About the Author
Moe Bedard is a leading expert and trusted authority in regards to loan workouts and loan modifications. Moe is the founder and President of Loan Safe Solutions, LoanSafe.org and the main contributor to LoanWorkout.org. He has blogged on this subject more than any other person on earth and has personally been involved in over 300 loan workouts and mortgage audits.
IndyMac to reopen ’strong and safe,’ new boss says
PASADENA, California (CNN) — California bank IndyMac will reopen as a “strong and safe institution” under federal management and a new name Monday, days after regulators closed it, the firm’s new CEO said Sunday.
“Come Monday morning, it will be business as usual for all insured customers,” said John Bovenzi, who was placed in charge of IndyMac — now named IndyMac Federal Bank — after regulators seized the firm Friday.
The Federal Deposit Insurance Corp. guarantees traditional bank accounts up to $100,000 and individual retirement accounts up to $250,000. The bank’s 265,000 customers with insured accounts “should know that their insured money is safe,” Bovenzi told reporters Sunday afternoon.
Customers with deposits beyond the insured limits “are still covered for their insured amounts” and also will “have immediate access to 50 percent of their uninsured balances,” Bovenzi said.
Popularity: 3% [?]
I just got an ad from wamu for a new credit card. what the hell does that signify? 
WAMU failed and they still haven’t dealt with my application. My interest rate jumped and so did my mortgage by ... 
sincitykim - FDIC is handling the workouts for Indymac. You might talk to someone there, they've reported helping over ... 
Leave a Reply
You must be logged in to post a comment.