Posts tagged as:

Indymac

OneWest Bank accused of not helping homeowners

by Moe Bedard

Nineteen months after the catastrophic failure of one of Sacramento’s top lenders, Pasadena-based IndyMac Bank, a flurry of local lawsuits alleges that the bank’s successor – OneWest Bank – is systematically working to push home loan borrowers into foreclosure.

2 comments Read the full article →

One West Banks new billionaire owners make $1.6 billion profit

by Moe Bedard

The billionaires’ club of private financiers who took over the remains of IndyMac Bank from the Federal Deposit Insurance Corp. turned a profit of $1.57 billion last year on the failed mortgage lender — more than they invested less than a year ago.

Yet under the sale agreement, the federal deposit insurance fund still could lose [...]

1 comment Read the full article →

IndyMac Begins Dismantling Business As It Struggles to Keep Investors’ Faith

by Moe Bedard

First, Countrywide Financial Corp. went down, as the nation’s biggest mortgage lender was acquired in a rescue operation July 1 by Bank of America Corp. Now Countrywide’s offspring, IndyMac Bancorp Inc., is on the ropes.

0 comments Read the full article →