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Mortgage Lender Faces Rush to Withdraw (New York Times)
Time is running out for IndyMac Bancorp , one of the faded darlings of the subprime era. On Tuesday, IndyMac, one of the nation’s largest independent mortgage lenders, faced what amounted to a run on the bank.
IndyMac depositors pull cash as mortgage woes grow (Reuters via Yahoo! News)
Mortgage lender IndyMac Bancorp Inc said on Tuesday depositors had been withdrawing cash at an "elevated" pace since a key U.S. senator questioned its ability to survive the housing crisis.
Ahead of the Bell: Mortgage Applications (AP via Yahoo! Finance)
Industry data to be released Wednesday will show whether home loan applications continued to inch upward from nearly seven-year lows as mortgage rates dipped slightly last week.
U.K. Mortgage Rates Surge, Consumer Confidence Slumps (Update1) (Bloomberg.com)
July 9 (Bloomberg) -- U.K. mortgage rates surged to the highest in eight years and consumer confidence dropped, adding to signs that the economic downturn is deepening.
U.S. MBA's Mortgage Applications Index Increased 7.5% Last Week (Bloomberg.com)
July 9 (Bloomberg) -- Mortgage applications in the U.S. rose for a second straight week, a sign that falling home prices are attracting some buyers. The Mortgage Bankers Association's index of applications to purchase a home or refinance a loan gained 7.5 percent to 513.4 in the week ended July 4, from 477.7 the prior week.
Mortgage Lender Faces Rush to Withdraw (NYTimes.com via Yahoo! Finance)
Depositors of IndyMac were rushing to withdraw cash on Tuesday after a prominent senator questioned the mortgage lender’s ability to survive the housing crisis.
U.K. Mortgage Rates Increase to Eight-Year High (Correct) (Bloomberg.com)
(Corrects size of deposit in second paragraph.) July 9 (Bloomberg) -- U.K. mortgage rates surged in June to the highest in eight years as banks reined in lending, Bank of England data show.
Mortgage application volume rises 7.5 percent (AP via Yahoo! Finance)
Mortgage application volume rose 7.5 percent during the week ending July 4, according to the trade group Mortgage Bankers Association's weekly application survey.
IndyMac depositors pull cash as mortgage woe soars (Reuters via Yahoo! News)
IndyMac Bancorp Inc said on Tuesday depositors were withdrawing cash at an "elevated" pace after a key U.S. senator questioned the big mortgage lender's ability to survive the U.S. housing crisis.
Former mortgage lending giant faces its grim future (CNN Money)
IndyMac has become the latest mortgage lender to announce what is by now a familiar routine to battered investors: Shuttered business lines, failed attempts at capital raising and massive layoffs. A look at how it got here shows the risks of dominating a lending niche it had long argued was minimally risky: low documentation loans to residential mortgage borrowers with middling (at best) credit ...
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