Tag Archives: downey savings

Downey Savings Update

From the Los Angeles Times: The Downey Savings & Loan branch in Burbank seemed to be doing business as usual today under its new ownership: Minneapolis-based U.S. Bank. Federal regulators seized Newport Beach-based Downey and PFF Bank & Trust late … Continue reading

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Steps To Prevent Foreclosures

California has a new law to slow down foreclosures. Whether it will do the housing economy any good is an open question. In testimony to Congress Thursday, FDIC head Sheila Bare gave the example of IndyMac. Taken over by the … Continue reading

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Refinance Crisis Forces Southern California Savings & Loans To Struggle

The Los Angeles Times reports: Investors are increasingly throwing in the towel on Southern California-based savings-and-loan mortgage lenders IndyMac Bancorp, FirstFed Financial Corp. and Downey Financial Corp. Defaults keep climbing on the nontraditional mortgages made by the companies, and bond … 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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