Manulife Made Offer To Buy Financial Freedom

The New York Post is reporting that Toronto based Manulife made an offer to buy IndyMac’s reverse mortgage business just days before the bank was taken over by the FDIC.  Sources close to the deal told the NY Post that eight days ago, Michael Perry, former CEO of InyMac deemed the offer insufficient.

While the Post is reporting that if Perry would’ve taken the deal the bank failure wouldn’t have had to happen, I’m not sure I believe this.  To read a copy of the NY Post article click the link below.

Inymacs Defiance (NY Post)

Advertisement

Join the Conversation (0)

see all

This is a professional community. Please use discretion when posting a comment.

  • Why the self-serving plug from Celink, when borrowers, or RMPs for that matter, have no say in who services their loans? Seniors who presently have reverse mortgages and those who need reverse mortgages, are terrified right now, and a concise and definitive answer would have been more helpful.

string(115) "https://reversemortgagedaily.com/2008/07/16/manulife-made-offer-to-buy-financial-freedom-before-ots-closed-indymac/"

Share your opinion