Posted by BrendaTx on 7/7/08 4:15pm
Msg #254361

IndyMac (Think: Financial Freedom) Woes

http://www.labusinessjournal.com/article.asp?aID=22808278.5869412.1650142.1433934.2371593.103&aID2=126925

Reply by MikeC/NY on 7/7/08 6:54pm
Msg #254375

It gets worse - they're pulling out of the mortgage market..

http://tinyurl.com/6yyy5k

Reply by ReneeK_MI on 7/8/08 4:27am
Msg #254399

*Not closing FF's R/M division, though n/m

Reply by Linda_H/FL on 7/8/08 4:53am
Msg #254400

No, but looking to sell off this part of their business

"Paul J. Miller Jr., an analyst with Friedman Billings Ramsey & Co., said the first step for the Pasadena-based mortgage lender will likely be to shop its reverse-mortgage business, known as Financial Freedom. But finding buyers in the current climate could be a hard sell"

IMO if they don't find a buyer, closing is probably next ...

Reply by BrendaTx on 7/8/08 5:50pm
Msg #254487

Who woulda thought...

that those HUD Deeds of Trust / Mortgages would ever be this close to being necessary?

Not saying they are, but who would have thought it?