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Money & CompanyTargeting executives of the housing boom's biggest stated-income lender, the Securities and Exchange Commission has accused former IndyMac Bancorp Chief Executive Michael W. Perry and two former chief financial officers of defrauding investors at the...
Dow Jones News ServiceIt takes more than good credit to get a mortgage these days. Lenders across the country, stuck with piles of loans investors wouldn't buy, are jacking up rates and imposing stricter requirements on even the most creditworthy borrowers. And once again, to...
The federal government has taken over 17 failing banks and thrifts this year, seizing them at a rate three times faster than last year. At that pace, it will "nationalize" 85 banks by year's end, compared with three -- yes, three three -- in 2007. Yet...
Los Angeles Times Staff WriterThe federal government took control of Pasadena-based IndyMac Bank today, in what regulators called the second-largest bank failure in U.S. history. The Office of Thrift Supervision in Washington, the chief regulator of IndyMac, said it transferred...
Los Angeles Times Staff WriterThe no-worries lending that inflated the housing bubble is resulting in a flood of soured option-ARM loans, adjustable-rate mortgages that allow borrowers to pay so little every month that their loan balances rise rather than fall, sometimes sharply....
Los Angeles Times Staff WritersIndyMac Bancorp Inc., a major nationwide home lender based in Pasadena, said Tuesday that it would eliminate 2,400 jobs, or 24% of its remaining workforce, in reaction to "gut-wrenching" changes in the mortgage business. The cuts are in addition to 1,...
Feb 11, 2011 | Los Angeles Times
Aug 24, 2007 |Story| Chicago Tribune
Mar 15, 2009 |Story| Los Angeles Times
Jul 12, 2008 |Story| Los Angeles Times
Jan 14, 2008 |Story| Los Angeles Times
Jan 16, 2008 |Story| Los Angeles Times
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