Tag Archives: indymac bancorp inc

IndyMac Files Chapter 7

From the WSJ: IndyMac Bancorp Inc., the failed California mortgage lender that was seized by regulators last month, said Friday its plans to file for Chapter 7 protection in the U.S. Bankruptcy Court for the Central District of California. IndyMac, … Continue reading

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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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U.S. Regulators Seize IndyMac

July 11 (Bloomberg) — IndyMac Bancorp Inc. became the second-biggest federally insured financial company to be seized by U.S. regulators after a run by depositors left the California mortgage lender short on cash. The Federal Deposit Insurance Corp. will run … 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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