Reverse Mortgage Daily

  • Home
  • About
  • Wholesale Lenders
  • Jobs
  • Awards
  • Advertise
  • Contact
  • Data
  • Content
  • Categories
    • Alternatives
      • EquityKey
      • REX
    • American Advisors Group
    • Chart of the Day
    • Commentary
    • Counseling
    • Data
    • Events
    • FHA
    • GNMA
    • Gov. Updates
    • International
    • Interview Series
    • Jumbo Products
    • Leads
    • Legislation
    • Lenders
    • Live Well
    • Marketing
    • MBA Reverse
    • News
    • NRMLA
    • Podcast
    • Products
      • 1st Reverse
      • Bank of America
      • Countrywide
      • Financial Freedom
      • FNMA Homekeeper
      • Generation Mortgage
      • Gold Reverse
      • Golden Gateway
      • Guardian First
      • HECM
      • JB Nutter
      • Liberty Reverse
      • Live Well Financial
      • LLS
      • MetLife
      • Quicken
      • Reverseit
      • Seattle Mortgage
      • Security One
      • Sun West
      • Virtual Bank
      • Wells Fargo
    • Rates
    • Retirement
    • Reverse Mortgage
    • Reverse Mortgage Jobs
    • Senior Housing
    • Servicers
      • Celink
      • RMS
    • Technology
      • Bay Docs
      • Mortgage Cadence
      • Reverse Vision
    • Top HECM Lenders
    • Training
    • Video
    • Warehouse Lines
  • RSS



« National Association of Realtors Blog Features Reverse Mortgages
New Reverse Mortgage Jobs For 2009 »

IndyMac Sale Hits Snag Due To Defaulted Loans Sold To Fannie Mae

December 30th, 2008  |  by John Yedinak Published in Financial Freedom, News, Reverse Mortgage  |  1 Comment

image Housing Wire journalist Teri Buhl writes that the sale of IndyMac to the private equity consortium known as HoldCo has run into problems due to repurchase requests from Fannie Mae.  According to the article:

Fannie Mae is now holding the deal hostage and threatening to jeopardize the potential sale, according to sources close to the sale negotiations on Tuesday evening.

After IndyMac was seized by regulators this summer, Fannie quickly — and quietly — handed the bank a bill for $1 billion, one source said under condition of anonymity, claiming the failed Pasadena, Calif.-based thrift had violated representations and warranties on various loans sold to the GSE. The IndyMac-originated loans had early payment defaults or were made under fraudulent conditions, according to the source. IndyMac, now under the control of FDIC officials, responded with an offer in kind to settle the repurchase claims for only $100 million, an offer that the GSE did not accept.

To read the rest of the story click the link below.

Fannie Mae Holding IndyMac Deal ‘Hostage,’ Sources Say

Technorati Tags: Reverse Mortgage,News,Indymac,Fannie Mae,Financial Freedom,FHA,HUD,FDIC

Sign up to receive free updates like this by email or subscribe by RSS feed. Thanks for reading!

  • Share this:

Email This Post Email This Post Print This Post Print This Post
    Related Posts
  • FDIC Hopes To Sell IndyMac By December
  • FDIC Takes Charge of IndyMac?
  • Private Equity Firm Purchasing IndyMac, FDIC Wants More For Financial Freedom



  • James A. Nelson

    Holy Economic Cow!!!! Good for Fannie Mae–I wish I could settle my debts for 10 cents on the dollar.

.


Wholesale Lender Sponsors





Sponsors






Exclusive Training Provider







RSS Reverse Mortgage Jobs

  • Retail Sales Manager
  • Reverse Mortgage Consultant
  • Reverse Mortgage Consultant
  • Reverse Mortgage Consultant
  • Reverse Mortgage Consultant
  • Reverse Mortgage Branch Manager
  • Reverse Mortgage Consultant
  • Fed Charter Now Hiring Reverse LO's Nationally

Recent Articles

  • When Home Values Stop Falling, So Will Reverse Mortgage Volume
  • Generation Introduces New CFO, Targets Growth in 2012
  • Defendant Found Guilty in New York Reverse Mortgage Ponzi Scheme
  • Friday Round-Up: CFPB Comes Knocking, Bill to Save FHA Insurance Fund?
  • CFPB On Reverse Mortgage Deadline, Calling on Lenders
  • Bank of America to Pay $1 Billion More in Mortgage Fraud Claims
  • New Mexico Servicing Bill Could Have Reverse Mortgage Implications

Popular Posts

  • Wendover Hires Former B of A, Financial Freedom Reverse Mortgage Execs
  • Google Shuts Down Mortgage Rate Comparison Tool
  • Ron Paul: The CFPB Will Harm Consumers
  • Social Media Marketing for Reverse Mortgages: Worth The Risks?
  • CFPB On Reverse Mortgage Deadline, Calling on Lenders


Our Sites

Long Term Care Daily

Senior Housing News

Senior Home Care News


©2012 Reverse Mortgage Daily
Powered by WordPress using the Gridline Lite theme by Graph Paper Press.