Tag Archives: office of thrift supervision

Fixing The Foreclosure Mess

Bankers can live with the new regulations and recommendations for how they handle foreclosures. It is not nearly as bad as initially expected. For a few weeks, it looked like the Obama administration was going to use this to shake … Continue reading

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Banks Must Be Tiring Of Modifying Mortgages

If somebody has lost his job, what is the point of modifying his mortgage? If he doesn’t have solid income every month, then how is he going to make a mortgage payment. Unemployment is around 10% and there is little … Continue reading

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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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Risky Lending In CA

From the New York Times: Today the Downey Financial Corporation, the big California savings and loan that Mr. McAlister went on to help found, has effectively put up the same sign. The Office of Thrift Supervision, which oversees the $13 … 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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Why Did IndyMac Have To Die?

From The New York Times: PASADENA, Calif. — After his mortgage company nearly crashed a decade ago, Michael W. Perry set a new course. He bought a bank so the company, soon rechristened IndyMac Bank, would never run short of … Continue reading

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IndyMac Reopens Monday With A New Name

From CNN: IndyMac Bank, closed Friday by federal regulators, will reopen Monday with a new charter and a new name — IndyMac Federal Bank. Indymac’s failure, which the FDIC chairman said could add up to be the most expensive U.S. … Continue reading

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Should Charles Schumer Get The Blame For The Run On IndyMac?

Peter Viles writes for the LA Times: Feds cite Schumer in collapse of IndyMac An important angle in the IndyMac failure that may get lost in ominous headlines tonight and tomorrow: federal regulators pointedly cited U.S. Sen. Charles Schumer, D-N.Y., … 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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IndyMac Shut Down

If I had money in First Federal or Downey Savings, I’d pull it out. I predict those banks will be gone in a few months. I believe U.S. Senator Charles Schumer said to the regulators, what is going on over … Continue reading

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