Search results
Results from the WOW.Com Content Network
IndyMac changed its name to IndyMac Bank and became the ninth largest bank headquartered in California. IndyMac Bank, operating as a combined thrift and mortgage bank, provided lending for the purchase, development, and improvement of single-family housing. IndyMac Bank also issued secondary mortgages secured by such housing, and other forms of ...
IndyMac Bank, America's leading Alt-A originator in 2006 [5] with approximately $32 billion in deposits, was placed into conservatorship by the Federal Deposit Insurance Corporation (FDIC) on 11 July 2008, citing liquidity concerns. A bridge bank, IndyMac Federal Bank FSB, was established under the control of the FDIC. [6]
Over the past weekend it was announced that IndyMac was being taken over by the FDIC after customers began a run on the bank, which had denied any solvency issues. Many customers had their life ...
IndyMac Bancorp filed for Chapter 7 bankruptcy in July 2008. [417] IndyMac Bank was founded as Countrywide Mortgage Investment in 1985 by David S. Loeb and Angelo Mozilo [418] [419] as a means of collateralizing Countrywide Financial loans too big to be sold to Freddie Mac and Fannie Mae. In 1997, Countrywide spun off IndyMac as an independent ...
The failure of IndyMac Bank was the fourth largest bank failure in United States history. [21] Prior to IndyMac's failure on 11 July 2008, the bank had come to rely heavily on higher cost, less stable, brokered deposits, as well as secured borrowings, to fund its operations.
The failure of IndyMac Bank on July 11, 2008, was the fourth largest bank failure in United States history. [11] Prior to IndyMac's failure on July 11, 2008, the bank had come to rely heavily on higher cost, less stable, brokered deposits, as well as secured borrowings, to fund its operations.
July 11 Indymac Bank, a subsidiary of Independent National Mortgage Corporation (Indymac), is placed into the receivership of the Federal Deposit Insurance Corporation by the Office of Thrift Supervision. It was the fourth-largest bank failure in United States history, [207] and the second-largest failure of a regulated thrift.
IndyMac: IMB Management Holdings: Savings and loan association $ 1.39 × 10 ^ 10 [50] January 15, 2009: Anglo Irish Bank: Government of Ireland: Bank [51] February 3, 2009: BTA Bank: Government of Kazakhstan: Bank $ 2.1 × 10 ^ 9 [52] February 3, 2009: Alliance Bank Government of Kazakhstan: Bank [52] February 21, 2009: Bank of Antigua: Eastern ...