Tag Archives: bancorp inc

Feds Take Over IndyMac

From the CBC: Bank regulators seized California-based mortgage lender IndyMac Bancorp Inc. on Friday afternoon after panicky depositors began withdrawing their money, leaving the institution short on cash. IndyMac customers with funds in the bank will be limited to taking … Continue reading

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Regulating America’s Mortgages

NEW YORK (Associated Press) – A regulator whose agency would disappear under a Bush administration plan to revamp financial oversight says his agency should instead be given expanded power over the U.S. home loan market. John Reich, director of the … Continue reading

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Cutting Rates On Jumbo Loans

From the WSJ: Executives of Fannie Mae and Freddie Mac told Congress they are finally bringing down interest rates on some "jumbo" mortgages. Jumbo mortgages are those larger than the normal limit — currently $417,000 — on loans that can … Continue reading

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Mortgage Companies Reveal Bad First Quarter Earnings

At least some people think the worst is over. Mortgage companies have lost billions. The US economy has lost over $200 billion from the subprime mess which has hurt credit markets around the world. Shares in mortgage lenders and insurers … Continue reading

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I Hope My Bank Doesn’t Have All Its ‘Capital’ In Junk Loans

Downey Savings, and then not far behind them, First Federal and Washington Mutual are going to have all the "capital" in junk loans.  No one should have any faith in the banking system and should move their money out of … Continue reading

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