IndyMac’s Reverse Loan Unit May Be Sold Before 2009
indy mac reverse mortgage unit on the move
In a recent article in Forbes a group of private investors are fast approaching a deal that could place IndyMac back into private hands before the New Year. While many of IndyMac’s assets were poor performing, the reverse mortgage unit is one of the crown jewels remaining of the now defunct bank.
IndyMac Bancorp assets may be back in private hands before the end of the year, as the Federal Deposit Insurance Corporation appears close to a deal with a group that includes a hedge fund and private-equity firms.
Over the weekend,TradeTheNews said a consortium including investment firms J.C. Flowers and Dune Capital Management and the hedge fund Paulson & Co. may buy IndyMac bank, its 33 branches, the reverse-mortgage unit and a $176.0 billion loan-servicing portfolio.
![[del.icio.us]](http://images.del.icio.us/static/img/delicious.small.gif){kind=small}
Related posts:
- Elderly Woman Scammed for $100K Reverse Loan
- How Much A Debt Consolidation Loan Would Cost You?
- Local Focus: Michigan Reverse Mortgage Stats
- Georgia Top HECM through Q3 2008
- New HUD Rule Allows Reverse Mortgages For Home Purchase
If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.
[...] IndyMac’s Reverse Loan Unit May Be Sold Before 2009 [...]