Posted by Graccie (mgmiller33) on July 14, 2008, 6:54 am, in reply to "Mixed messages.... late reporting??? Who knows"
209.195.172.69
Can you tell me what "forward mortgage business" is? Thanks.
--Previous Message--
: Since IndyMac is right here in my
: backyard, they have been front page
: news nearly daily for over a week.
:
: While obviously the statement released
: by the bank you kindly attached is
: indisputable, I was going on the
: following statement quoted in the
: local paper Tuesday.
:
: "IndyMac's absence from the
: fixed-rate loan market will be felt by
: families looking to buy a home"
:
: Last weeks papers are gone now... but
: other quotes from the CEO stated they
: were leaving the fixed rate business,
: and the Alt-A business but would
: continue to offer Adjustable, and 5/1,
: 7/1 products, FHA & other
: government backed products.
:
: Could be.... that those Adj & 5/1
: ect products are the retention
: products to be offered, but no fixed
: rates....
: and 1.) the reporter failed to include
: that detail or 2.) things are changing
: so fast, that announcements previously
: made have changed before the can go to
: print.
:
: Or vice/versa... they have found
: backing to reverse the press release
: you quoted.
:
: Either way... I suspect we have not
: heard the last of the changes coming
: down the pipeline, like todays
: announcement that they closed a deal
: selling 60 branches of their mortgage
: division to another company (pending
: government review).
:
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