Tag Archives: indymac bancorp

Sheila Bair Getting Mad Props

Will Sheila Bair become the Treasury Secretary? Bair was the FDIC to play a bigger role in this mortgage mess. Politicians want bold and dramatic action and Bair has a plan to give it to them. Bair has had an … Continue reading

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John McCain’s Mortgage Plan Popular

Report: (Angus Reid Global Monitor) – Many adults in the United States support an idea proposed by Republican presidential nominee John McCain to deal with the mortgage crisis, according to a poll by Rasmussen Reports. 52 per cent of respondents … Continue reading

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Helping People Stay In Their Homes

Ruth Simon writes: The bailout package includes more aggressive steps to help troubled borrowers keep their homes by requiring the government to do more to reduce loan balances and interest rates. Until now, most government efforts, including its Hope Now … Continue reading

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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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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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