Housing Wire is now reporting that Fannie Mae is trying to get $10 billion instead of the originally reported $1 billion from the FDIC. Fannie claims that IndyMac stuck them with this amount of fraudulent loans which the FDIC as the receiver is now liable for. You may recall that I previously cited this story […]
Posts Tagged ‘IndyMac’
Posted in 
Tags: 
FDIC Unloads IndyMac
Posted by Tom Lindmark on January 2nd, 2009
The FDIC sold IndyMac for $13.9 billion to a group of private investors. The FDIC has agreed to share in future loan losses so long as the new owners continue the loan modification program that the FDIC instituted at the bank. The new owners will also inject $1.3 billion in new capital and bring in […]
A Buyer For Indymac And A Grim Call From HSBC-Someone’s Wrong
Posted by Tom Lindmark on December 28th, 2008
Two interesting developments. One quite positive and the other more than a little disconcerting. The NYTis reporting that a deal has been struck to buy IndyMac Bank. What makes it interesting is that the buyers are all either private equity or hedge funds. Even more interesting is the fact that they have all been sniffing […]
IndyMac May Be Bought From The FDIC
Posted by Tom Lindmark on December 23rd, 2008
Housing Wire is reporting that the FDIC has found a buyer for IndyMac Bank. No details at this time but, apparently, they have agreed to continue Sheila Bair’s crusade for modifying the bank’s loans. If you don’t know how I feel about this particular regulator, just input her name into the search box and you will […]
