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OTS’s West Coast

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IndyMac Probe Uncovers Backdated Cash Infusion HW+

Dec 23, 2008By

The Office of Thrift Supervision just might need some supervision for itself. The Treasury Department’s independent investigator revealed Monday that OTS allowed IndyMac Bancorp, formerly one of the nation’s largest Alt-A mortgage lenders, to backdate an $18 million capital infusion to maintain its status as a “well-capitalized” institution — hence, escaping regulatory restrictions — just two months before the bank’s collapse in July.

3d rendering of a row of luxury townhouses along a street

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