*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.