Comments on: Sale of IndyMac Good For Financial Freedom? (Poll)

By: TR

TR — Sat, 10 Jan 2009 03:36:26 +0000

RC was right on except for his reference to the Pats.
Maybe the NY Giants!! Go Giants. Just figured we needed to lighten it up a little bit.

By: John K. Lunde

John K. Lunde — Fri, 09 Jan 2009 20:11:58 +0000

As a former employee of FF, and strictly speaking from an employee perspective, I tend to believe that ending the ‘limbo’ of a temporary transition home under FDIC is for the best. While the buyer may or may not prove to be the best fit for FF, which is too early to really tell anyway, my personal belief is that it’s simply less painful to be in limbo than it is to be on a path to resolving uncertainty.

Best of luck to the team that has hung in there this long and hope the new ownership is successful in their investment.

By: RC

RC — Fri, 09 Jan 2009 16:35:13 +0000

Admin. It doesn’t matter whether it’s Perry or Minier. Neither one truly understood the RM industry as exhibited by their performance. The only reason FF became strong was through the clear vision (extreme patience) and caring nature of Mahoney. Hopefully he has a part in FF’s future again.

By: admin

admin — Fri, 09 Jan 2009 16:00:52 +0000

RC – I see your point, I just wonder how much input (if any) Financial Freedom had in the sale. IndyMac is their owner so I don’t think the FDIC went to Michelle Minier and said, who would you like to be sold to?

James – As always, thanks for supporting RMD and passing along the information on to others. I see your point but I think private equity is going to play in big role in getting banks out of trouble in the next year. Yes, they may have been part of the problem, but having IndyMac and Financial Freedom sit in the hands of the FDIC isn’t helping anyone fix/grow a business.

By: James A. Nelson

James A. Nelson — Fri, 09 Jan 2009 15:51:51 +0000

Dear Admin: I’m strictly talking about the objectivity
of your poll. I read RMD and write comments because I have such a high respect for the knowledge contained
therein. I am proud to tell others in the RM Industry
that I daily read RMD to learn more about the Industry
in which I work and recommend they do as well. If
I begin to think RMD is at times a “tool” to get
slanted results for others, I shall stop reading
immediately. Honesty is a big issue for all Seniors.
Since I am not privy to what Investors have contacted the FDIC about buying FF, I have no answer. As I’ve stated before on RMD, my objection to hedge funds buying FF is based on the fact that hedge funds are not now regulated by the SEC. Lack of oversight of Wall Street by the SEC has put our Country’s financial situation in a very precarious condition. Not a few Seniors have been financially davastated by this mistake.

By: RC

RC — Fri, 09 Jan 2009 15:48:59 +0000

FF was once the New England Patriots of the RM industry. IndyMac single handedly destroyed it in an unbelievably short time. FF’s downslide began because Perry/IndyMac did not have the proper insight into how the reverse mortgage industry really runs. His disdain for RM Retail reps was the first of many signs that he did not “get it”. Eventually for FF to thrive, they need an owner the understands the intricasies of reverse mortgage industry. They should wait until the proper owner comes along.

By: admin

admin — Fri, 09 Jan 2009 14:57:19 +0000

Ashamed? James, maybe in your spare time your an investment banker too, who else is trying to buy FF? Please grace us with insight

By: James A. Nelson

James A. Nelson — Fri, 09 Jan 2009 14:49:48 +0000

Mr. RMD: Your poll choices are incomplete. You should have a third choice–Different Buyers. Very
poor selection, designed to slant results. You should be ashamed.