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SEC files fraud lawsuit against three former IndyMac executives [Updated]
Money & CompanyTargeting executives of the housing boom's biggest stated-income lender, the Securities and Exchange Commission has accused former IndyMac Bancorp Chief Executive Michael W. Perry and two former chief financial officers of defrauding investors at the... -
Banking clarity
The federal government has taken over 17 failing banks and thrifts this year, seizing them at a rate three times faster than last year. At that pace, it will "nationalize" 85 banks by year's end, compared with three -- yes, three three -- in 2007. Yet...Tags: Consumers, Business, Finance, Consumer Confidence, Seizures
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IndyMac Bank seized by federal regulators
Los Angeles Times Staff WriterThe federal government took control of Pasadena-based IndyMac Bank today, in what regulators called the second-largest bank failure in U.S. history. The Office of Thrift Supervision in Washington, the chief regulator of IndyMac, said it transferred...Tags: Banking, Politics
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Adjustable loans spur new worries
Los Angeles Times Staff WriterThe no-worries lending that inflated the housing bubble is resulting in a flood of soured option-ARM loans, adjustable-rate mortgages that allow borrowers to pay so little every month that their loan balances rise rather than fall, sometimes sharply....Tags: Golden West Financial Corporation, Housing Industry, Metal and Mineral, Crimes, Finance
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IndyMac to cut 2,400 jobs
Los Angeles Times Staff WritersIndyMac Bancorp Inc., a major nationwide home lender based in Pasadena, said Tuesday that it would eliminate 2,400 jobs, or 24% of its remaining workforce, in reaction to "gut-wrenching" changes in the mortgage business. The cuts are in addition to 1,...Tags: Fannie Mae, Layoffs and Downsizing, Banking, Countrywide Financial Corp., Employees
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Lenders tighten mortgage rules
Dow Jones News ServiceIt takes more than good credit to get a mortgage these days. Lenders across the country, stuck with piles of loans investors wouldn't buy, are jacking up rates and imposing stricter requirements on even the most creditworthy borrowers. And once again, to...Tags: Wachovia Corp., Homes, Real Estate Buyers, Wells Fargo & Co., Credit Ratings
Feb 11, 2011
| Los Angeles Times
Mar 15, 2009
|Story| Los Angeles Times
Jul 12, 2008
|Story| Los Angeles Times
Jan 14, 2008
|Story| Los Angeles Times
Jan 16, 2008
|Story| Los Angeles Times
Aug 24, 2007
|Story| Chicago Tribune
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