*Update* - It’s official… click here.

I’ll be honest, I’m getting tired of writing about Indymac but this one could be big…  Mortgage Lender Implode is reporting that a verbal announcement of  “The FDIC is in charge” rang through the halls today in Indymac’s Pasadena offices.

According to the ML Implode’s inside source, a formal announcement will be later today.  Since these guys are almost always right it will be interesting to see what happens to Financial Freedom.  IndyMac stock is trading at $0.31 as I’m writing this.

IndyMac under the control of FDIC

Technorati Tags: Reverse Mortgage,Financial Freedom,IndyMac,FDIC,OTS,Bank Failures

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