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Discussion Starter · #1 ·
If so, that's a big uh-oh, they're the nations 9th largest mortgage lender. :))eek:))

We'll find out shortly...
 

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havent heard anything but should get interesting if is true.
 

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....like warm apple pie
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I've been looking online....I can't find anything. I'm curious because they are the lender on my Havi house.
 

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If so, that's a big uh-oh, they're the nations 9th largest mortgage lender. :))eek:))

We'll find out shortly...
I put a call in to Mike Perry's (president/CEO) father in law. I will find out what is going on today and let everyone know a little later. I met him while I was doing construction inspections for IMB
 

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Discussion Starter · #10 ·
Much appreciated. Let's get from rumor to facts!! LOL :D
Yes, that's a hardcore rumor and Implode usually calls them correct, so I'm pretty curious too.
 

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Monrovia in the House
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One of my brokers just called me to tell me their Indymac rep called them after their meeting today and confirmed they are closing and will not be able to honor any of their loans.
 

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What about a construction loan that has had docs signed for some months now but has yet to have the first draw on it? What happens with that?
 

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Discussion Starter · #17 ·
"The letter" is floating around, doesn't look like the FDIC took over...just cut their nuts off.
 

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Monrovia in the House
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What about a construction loan that has had docs signed for some months now but has yet to have the first draw on it? What happens with that?
They quite doing Construction sometime ago. Send it to Provident Bank :)

Update - 1:30pm (PDT): To quote a 1:00 pm email distributed by Grove Nichols, signed by M. Perry, Indymac is getting out of the mortgage business.

...will necessitate the reduction in our present workforce from approximately 7,200 to roughly 3.400 or so over the next couple of months."
Indymac has announced they will no longer accept any new loan submissions or rate locks in either retail or wholesale, and are closing their "forward" mortgage business.
 

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Discussion Starter · #20 ·
I'm curious to find out where their servicing portfolio will wind up - or is it staying with them?
 
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