Items Tagged with 'IndyMac Bancorp Inc.'

ARTICLES

  • California AG May Probe IndyMac Failure: Report

    The nation's mortgage mess and growing string of bank failures just got very political, as if it wasn't already. A PR group that reps for the Republican National Committee and other GOP political interests circulated a copy of a letter to the press yesterday from more than 50 former IndyMac Bancorp Inc. employees, alleging that a press leak by Sen. Chuck Schumer (D-NY) caused the bank to fail. HW obtained a copy, as well.
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  • IndyMac Fails; OTS, Schumer Point Fingers

    It's over for the Pasadena-based thrift that once ruled the Alt-A mortgage roost. On Friday evening, the Federal Deposit Insurance Corp. closed Indymac Bancorp Inc. [stock IMB][/stock] and its $32.01 billion in total assets, and total deposits of $19.06 billion.
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  • New Service Touts Mortgage Payments by Credit Card

    If borrowers can pay their mortgage via credit card, will they? One company, San Francisco-based ChargeSmart LLC, is betting that the answer is "yes." The company, whose service also targets auto and student loans as well as utility bills, said Wednesday morning that it will allow borrowers to pay their mortgage via a Visa or MasterCard through a network of more than 4,000 billers across the United States.
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  • Indymac Inks Deal to Sell Retail Residential Mortgage Business

    A company many in the industry probably haven't heard of is set to become one of the nation's largest independent retail mortgage operations -- almost overnight. How? By snapping up all of the retail mortgage branches of troubled Indymac Bancorp Inc. [stock IMB][/stock], which disclosed only only day earlier that it would exit substantially all of its mortgage origination activity.
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  • Schumer: IndyMac's Troubles Don't Extend to Regional Banks

    In the wake of the troubles now facing Indymac Bancorp Inc. [stock IMB][/stock], Senator Charles Schumer (D-NY) came out Tuesday suggesting that the bank's troubles "were not replicated by other regional banks." "Neither depositors nor investors should read IndyMac’s unique troubles as an omen for other institutions," he said in a statement released by his office early Tuesday afternoon, clearly looking to assuage investor concern and perhaps looking to take a conciliatory tack with frustrated banking regulators.
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  • Indymac Hits a Wall, Quits Most Mortgage Origination

    The nation's largest independent mortgage operation in the wake of Countrywide Financial's acquisition by Bank of America Corp. [stock BAC][/stock] lasted less than a week. It may never had a chance, either, given the headwinds that coalesced against it in recent weeks.
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  • Consumer Group Targets IndyMac Over Alt-A Mortgages

    As if IndyMac Bancorp Inc. [stock IMB][/stock] didn't have enough problems of the real variety right now -- trying to find sources of capital among them, as bank losses tied to Alt-A mortgages mount -- the Center for Responsible Lending on Monday took aim at what many expect to be the next target for consumer groups' ire, now that Countrywide Financial is no more.
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  • IndyMac: Mini Bank Run, Thanks to Schumer

    IndyMac Bancorp, Inc. [stock IMB][/stock] felt the pain of a mini bank run this past week, thanks to a leaked letter from New York Senator Charles Schumer that questioned the bank's solvency and led to widespread press coverage last week, the Pasadena-based thrift said in a filing with the Securities and Exchange Commission late Monday.
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  • IndyMac Shares Tumble on Solvency Concerns

    With competitor Countrywide Financial Corp. [stock CFC][/stock] set to disappear into the hallways of North Carolina-based Bank of America Corp. [stock BAC][/stock] in the next week, the mantle of "largest independent mortgage company" is set to fall to Pasadena, Calif.-based IndyMac Bancorp Inc. [stock IMB][/stock].
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