All Entries Tagged With: "IndyMac"
Paulson & Co, Dune Capital, JC Flowers & Co to acquire IndyMac
According to reports out on Monday, IndyMac Federal Bank (OTC:IDMCQ) is being sold to a hedge fund and a group of private-equity firms in a deal that the US Federal government are partly funding.
Hedge fund Paulson & Co along with private-equity firms Dune Capital Management and J.C. Flowers & Co will buy IndyMac that was [...]
Citigroup Federal bailout: FDIC to implement procedures similar to IndyMac
Citigroup is set to receive a huge rescue bailout from the US Federal Government in a bid to shore up the banking giant after shares tumbled further last week. The plan was announced by the Feds on Sunday.
The Citigroup Federal bailout has two main features, First, the Federal Deposit Insurance Corporation (FDIC) and the US [...]
Fannie and Freddie takeover: not all homeowners benefit
Half of the nations’ home mortgages are now owned or guaranteed by the federal government after the Fannie Mae and Freddie Mac take over, and now we will all be after a mortgage break
Homeowners with original IndyMac loans are helped by the FDIC
On August 20 The Federal Deposit Insurance Corporation said it would help thousands of distressed homeowners with their loans through the former IndyMac Bank to
IndyMac collapses, do you know if your bank is safe?
Is it time for us all to run to our bank, withdraw our money and stash it under the mattress? Some people are doing exactly that, the IndyMac’s failure caused chaos with customer queuing outside the
FBI investigate IndyMac for fraud: home loans for risky borrowers
IndyMac is under investigation by the FBI, due to the bank being involved in fraud for home loans that were made to risky borrowers. The report from the Associated Press is not that clear on how long the FBI have been probing the bank, but we do know that the investigation is for IndyMac as [...]
FDIC troubled bank list still lower than 1980s and early 1990s
Back in May there was just 90 institutions that were on the FDIC troubled bank list, this number could grow when the latest readings are read in August, but they will still be lower than they were back in the 1980’s and early 1990’s.
Despite the recent collapse of IndyMac, analysts still maintain that the
Senator Chuck Schumer blamed for IndyMac Bank Failure
John Reich, the director of the Office of Thrift Supervision, blames the IndyMac Bank Failure on comments that were made by Senator Chuck Schumer. However; Senator Schumer has denied any such blame.
This all started back on June 27, when Senator Chuck Schumer’s office had released a
IndyMac biggest casualty of the subprime mortgage crisis
The news that federal regulators have shut down troubled bank IndyMac Bancorp Inc., means that they have now become the largest casualty of the whole subprime mortgage crisis. IndyMac savings bank has now become one of the largest bank failures ever in the U.S.
IndyMac Federal Bank: new name for mortgage lender
The Federal Government has now taking control of IndyMac; the trouble bank has been called the second-largest bank failure in the U.S. history. It has been reported that IndyMac have transferred control of the bank that is worth $32 billion over to the Federal Deposit Insurance Corp.
IndyMac firing half its employees: Prospect Mortgage gets retail branches
Following the news that IndyMac is firing half of their employees, we have also learned that the lender is to sell most of their retail mortgage branches to Prospect Mortgage. According to an e-mailed statement from Prospect, the new deal will give them more than 60 branch offices along with 750 employees.
Fannie Mae and Freddie Mac shares fall more than 15%
Fannie Mae and Freddie Mac have seen a 15% fall in their shares and it looks as though IndyMac are also in trouble. The drop in shares is a sign that confidence in these two government-sponsored mortgage companies is at an all time low.
Shares on Monday for Fannie and Freddie hit a 14 year low, [...]
IndyMac cutting 3,800 jobs & stopping most mortgage loans
One of the Largest mortgage lenders in the U.S., IndyMac Bancorp Inc are to cut 3,800 jobs as well as stopping most home loans. Currently IndyMac employ 7,200, so they will be losing 53 percent of their workforce.