In the second quarter, mortgage servicers recorded 121,341 notices of default, up 6.6 percent from the first quarter and 124.9 percent from the second quarter… Read More »California Foreclosure Activity Worsens During Second Quarter
Wachovia said today that it will discontinue wholesale loan origination beginning this Friday, leaving very few players in the broker-originated space. It’s unclear how many… Read More »Wachovia to Halt Wholesale Lending
The other day, a friend and I went down to Indymac to close out his savings account, as the massive bank run line had now… Read More »Bank Looks to Capitalize on Indymac Failure
Between 2000 and 2007, 5,306 people with criminal backgrounds became loan originators in Florida, according to an investigation conducted by the Miami Herald. Of that… Read More »Thousands of Mortgage Originators Had Criminal Background
A website popped up today selling “I Hate Mortgage Brokers” t-shirts and other various products such as baseball hats and teddy bears to foreclosure victims… Read More »Website Selling “I Hate Mortgage Brokers” T-Shirts
So apparently the FDIC has a secret list of nearly 100 troubled banks on the brink of failure, but for obvious reasons cannot share it… Read More »The FDIC’s Secret Bank Failure List
Washington Mutual took measures to ease investor and employee concerns by releasing two statements in two days regarding its financial health in light of the… Read More »CEO: WaMu Is Not Indymac
Our street team headed down to Encino, CA today to take a look at what we thought would be a fairly busy day at bank… Read More »In Pictures: Indymac Bank Run
Tomorrow morning, Indymac Federal Bank will open its doors, largely to panicked and upset customers inquiring about their mostly-insured deposits. On Friday, the FDIC announced… Read More »Introducing Indymac Federal Bank
Downey Savings informed wholesale clients today that it was dropping its infamous option arm loan program, presumably before it dropped them. The Newport Beach, CA-based… Read More »Downey Savings Dropping Option Arm
