According to Financial Week, Goldman Sachs is looking to assets of failed banks such as IndyMac to build its business as it converts to a bank holding company.  “We plan to build our banking business organically and by buying retail deposits and bank assets in the wholesale market, not through opening branches,” a Goldman Sachs […]

Mortgage Orb just published an article written by Financial Freedom’s Jeff Birdsell who heads up their secondary market and product development.  It’s the best article I’ve read that explains how Ginnie Mae’s Home Equity Conversion Mortgage-Backed Securities (HMBS) function.  Typically, articles written about HMBS are confusing due to the complexity of the product but […]

National Mortgage News is reporting that the The Federal Deposit Insurance Corp. has set a Sept. 15 deadline for the first round of bids to buy IndyMac Bancorp.  Investors have been told they can bid on the entire franchise or its individual assets, which have been segmented into five different pieces. 
According to an […]

National Mortgage News is reporting that the FDIC plans to start heavily marketing IndyMac Bank as a whole unit or in pieces starting in September.  "We will widely market it, and we hope to generate a lot of interest," FDIC Chairman Sheila Bair said.  This comes after the FDIC announced that it expects IndyMac’s […]

Today Financial Freedom announced  they are eliminating their HECM Monthly CMT 150 and adjusting pricing for their higher margin CMT products.  According to the announcement, these changes are due to an abrupt change in secondary market pricing levels for HECM CMT products. 
It looks like these price changes will be happening across the board […]