The New York Post is reporting that Toronto based Manulife made an offer to buy IndyMac’s reverse mortgage business just days before the bank was taken over by the FDIC. Sources close to the deal told the NY Post that eight days ago, Michael Perry, former CEO of InyMac deemed the offer insufficient.
While the Post is reporting that if Perry would’ve taken the deal the bank failure wouldn’t have had to happen, I’m not sure I believe this. To read a copy of the NY Post article click the link below.
