2008-07-08 — ml-implode.com
"...in one last attempt to white wash the truth, IndyMac has been caught in another half truth that significantly impacts consumers and mortgage brokers, the two constituencies that I try my hardest to serve. CONTINUED…"
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Aristotle at 02:07 2008-07-09 said:
This is just the sort of risk I have been warning about for the past 10 days or so. See: http://www.fdic.gov/bank/historical/reshandbook/ch7recvr.pdf Pay the fee and pray that the loan closes. Kiss the money good bye if it doesn't close. There is absolutely no recourse for the loan applicant if IndyMac fails to close the loan or if FDIC seizes IndyMac prior to loan closing. It looks to me that IndyMac really does not want to close any more loans in the pipeline...which fits with Financial Times article today that their $4 Billion in cash is now down to $1.7 Billion. Permalinkadd a comment | go to forum thread
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