With the market’s level of volatility similar to that of a six-year-old at a candy store, it’s no real surprise that the reverse mortgage market is booming. Okay, maybe ‘booming’ is generous, but let’s say relative to the reverse mortgage market’s performance pre-market-downturn… a few more nodding heads are certainly evident. Retirees (or should-be retirees) [...]
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IndyMac Bought for $13.9 Billion – A Fishy Deal If You Ask Me!
by Rob K. Blake | January 3, 2009The FDIC announced late today the sale of the remaining assets of the failed thrift, IndyMac, to a private consortium for $13.9 Billion. Dune Capital Management, J.C. Flowers & Co., and Paulson & Co. spear headed the buy in search of a rehabilitated servicing portfolio Sheila Blair reworked with her aggressive loan modification strategy. This [...]