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IndyMac’s Demise May Reveal Little About the Outlook for Non-Conforming Mortgage Strategy
The federal regulators who shut down IndyMac Bank late last week say the institution’s failure had little to do with a mortgage lending strategy that leaned heavily on non-conforming products. IndyMac burst into the ranks of top 10 mortgage lenders back in 2005 largely because of its booming Alt A lending program. From 2004 through 2007, the company originated some $173.4... [Includes one chart]
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