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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A Colorado regulator earlier this year revoked the license of the appraiser responsible for the 2021 evaluation at the center of the government's suit.
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The average American must earn almost $117,000 a year in order to afford a median priced property as prices keep rising, a Bankrate analysis found.
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The Trump administration is leapfrogging the normal process by taking its fight over a district court injunction blocking efforts to shut down the Consumer Financial Protection Bureau to a federal appeals court, according to the CFPB workers' union.
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Baby boomers made up the largest share of home purchasers in 2024, as the percentage of millennial buyers declined, the National Association of Realtors found.
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Pacific Residential Mortgage discovered the ransomware incident just weeks after the successful completion of its merger with an Ohio-based lender.
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The deal is composed of 11,547 seasoned performing and reperforming loans that are first and second lien. Loan servicing includes a 180-day chargeoff feature.
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