IndyMac Mortgage Holdings Inc., Pasadena, Calif., has projected a net loss for the fourth quarter.The real estate investment trust did not estimate the size of the projected loss, but said it expects 1998 as a whole to be profitable. "This turn of events was unexpected and was caused by sudden, dramatic, and unprecedented changes in the debt, equity, and securitization markets, which significantly affected many, if not all, financial companies," said IndyMac president Michael W. Perry. "The well-publicized 'flight to quality' created a simultaneous and severe disruption in IndyMac's access to borrowings in the repurchase market, liquidity and market valuations of mortgage securities, and availability of equity capital." The company said the recent market turmoil caused some of its repurchase lenders to restrict the amount and terms of certain borrowings and to impose margin calls on certain assets securing the borrowings.
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The incoming Trump administration is expected to prioritize an activities-based oversight approach to nonbank entities, just as the Biden administration has. It may also leave its designation power intact, but unused.
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Freedom Mortgage CEO Stan Middleman weighs in on the Fed, servicing policy, and broker-to-banker moves as he comments on challenging career experiences in his new biography.
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A Pennsylvania federal judge ruled that HUD's handbook allowed, but did not require servicers to offer partial claim workarounds in tandem with funds from HAF.
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New Mexico is the state least wanting to refinance, with 369.38 keyword searches per 100,000 people.
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The study found nonbank lenders charging the highest interest rates and most points, and fintech pricing more in-line with depositories.
November 13 -
The real estate investment trust reported a GAAP loss and thin earnings available for distribution as a result of market shifts that also affected some peers.
November 13