IndyMac Bancorp is the holding company for IndyMac Bank, F.S.B., and operates through two main segments. The Mortgage Banking segment's core activities are loan production,...
By Jonathan Stempel NEW YORK (Reuters) - IndyMac Bancorp Inc IDMC, once one of the largest U.S. mortgage lenders, has filed for bankruptcy protection, less than three weeks after being seized by federal regulators following a bank run by depositors. The Pasadena, California-based...
By John Poirier WASHINGTON (Reuters) - U.S. regulators took over two banks on Friday and sold them to Mutual of Omaha Bank, the sixth and seventh bank failures this year as financial institutions struggle with a housing bust and credit crunch. Two weeks...
By John Poirier WASHINGTON (Reuters) - California's attorney general is reviewing a request by former employees of IndyMac Bancorp Inc IDMC to investigate whether a New York senator triggered the bank's collapse by releasing confidential information. At issue is a much-publicized letter that...
Michael Steinberg submits: The New York Times “As Program Moves Poor to Suburbs, Tensions Follow” and the New York Post “LOST SOVEREIGNITY,” tell stories of how sanguine homogeneous neighborhoods could be facing abrupt changes. Although each article takes a different angle, both articles point to increased renters in neighborhoods thought...
Michael Panzner submits: It has long been known that cognitive biases can engender a distorted sense of reality. Even though people may be presented with facts and figures that clearly point in one direction, behavioral mechanisms can prevent them from acknowledging or even seeing the data - data that...
NEW YORK -- Fitch Ratings has downgraded and removed from Rating Watch Negative the ratings of Indymac Bancorp, Inc. Indymac as follows: Indymac Bancorp Inc. --Long-term Issuer Default Rating IDR to 'D' from 'C'; --Short-term IDR to 'D' from 'C' --Individual to...
Since the failure of mortgage lender Indymac Bancorp Inc., people are worried about their money. But don't bother withdrawing money from your bank or credit union to stash in a coffee can -- it's safer where it is. Despite the hoopla, only five banks nationwide have failed...
WASHINGTON AFP — July is usually a quieter month for busy Wall Street bankers, spent lounging poolside at the Hamptons or on a Caribbean beach, but a nagging credit crunch has cast a dark cloud over such vacations. Major US banks, including Citigroup, Bank of America,...
NEW YORK -- Fitch Ratings has downgraded the long-term Issuer Default Ratings IDRs of Indymac Bancorp Inc. IMB and its wholly owned bank subsidiary, Indymac Bank FSB the bank as follows: Indymac Bancorp Inc. --Long-term IDR to 'CC' from 'B-'. Indymac...
PASADENA, Calif. -- Indymac today issued the following letter to its stakeholders: Dear Indymac Stakeholders: In this very difficult and challenging environment, any of the actions that we take to keep Indymac safe and sound unfortunately have negative consequences to some important constituency....
DALLAS, July 1 /PRNewswire/ -- BeaconEquity.com announces the availability of TraderNotes on stocks making news today. Investors can view all of the daily trading notes for free by visiting: http://www.beaconequity.com/m Today's TraderNotes include: XsunX Inc. (BULLETIN BOARD: XSNX) , Aastrom Biosciences...
Brower Piven, A Professional Corporationannounces that a class action lawsuit has been commenced in the UnitedStates District Court for the Central District of California on behalf ofpurchasers of the common stock of IndyMac Bancorp, Inc. ("IndyMac" or the"Company") (NYSE: IMB) between August 16, 2007 and May 12, 2008,...
Attorney Advertising. Notice is hereby giventhat a class action has been commenced in the United States District Courtfor the Central District of California on behalf of purchasers of thecommon stock of IndyMac Bancorp, Inc. ("IndyMac" or the "Company") (NYSE: IMB) between August 16, 2007 and...
On June 11, 2008, a class action lawsuitwas filed in the United States District Court for the Central District ofCalifornia against IndyMac Bancorp, Inc. (NYSE: IMB). The complaintalleges violations of federal securities laws, Sections 10b and 20a ofthe Securities Exchange Act of 1934 and Rule 10b-5, including...
SAN DIEGO -- Coughlin Stoia Geller Rudman & Robbins LLP ("Coughlin Stoia") (http://www.csgrr.com/cases/indymac/) today announced that a class action has been commenced in the United States District Court for the Central District of California on behalf of purchasers of IndyMac Bancorp, Inc. ("IndyMac") (NYSE:IMB) common stock during...
Alesco Financial Inc. is taking a financial hit from a large mortgage lender's decision to defer interest payments on a type of complicated security at the core of the credit crisis. The Philadelphia specialty-finance company said the five securities most affected by the IndyMac Bancorp Inc. decision contributed 44 percent...
PHILADELPHIA, May 15 /PRNewswire-FirstCall/ -- Alesco Financial Inc. , a specialty finance real estate investment trust, updates its previous announcement concerning the expected impact to AFN of the deferral by IndyMac Bancorp of the interest payments due on IMB's trust preferred securities held in AFN's portfolio. ...
NEW YORK -- Fitch Ratings has downgraded the long-term Issuer Default Ratings IDRs of Indymac Bancorp Inc. IMB and its wholly owned bank subsidiary Indymac Bank FSB bank. In addition, Fitch has placed the affected ratings on Rating Watch Negative. Fitch's action reflects the company's challenges in returning to profitability...
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