Blown Mortgage - Latest Comments in Official: IndyMac is Done

Re: Official: IndyMac is Done

mikew — Tue, 08 Jul 2008 10:16:29 -0000

My company never had a truly successful loan close with Indymac. My heart does go out to the empoyees however. It is a difficult time to be laid off with our resumes.

Re: Official: IndyMac is Done

Don — Tue, 08 Jul 2008 09:56:09 -0000

Mellish, HUH? Escrow is a great system, and the LAST thing you need is having attorneys involved in a "round table" closing. Nothing would get done. Nothing but manure there, dude. Yeah, I guess that works in places like ND where no one lives, but in a state of almost 40 million people, we need something more efficient. It's the GREED of humans that brought this on. People grow horns, even in North Dakota.

Please.

Re: Official: IndyMac is Done

Qatar Boy — Tue, 08 Jul 2008 01:28:04 -0000

How shortsighted - how short term was their strategy. A fine company starting from 0 fifteen years ago now is brought to its knees by the greed that fueled the bubble. Cheers, QB

Re: Official: IndyMac is Done

Fielding Mellish — Mon, 07 Jul 2008 23:16:55 -0000

Indy Mac was a lousy company for most of its history. It's too bad for the families of employees. When it comes to the mortgage business, anything coming out of California is always suspect. I can't tell if it's because the state is populated by the offspring of peple who fled their past problems in search of easy living - in other words, that all of the ethics has been bred out of Californians, or if it's because with their amorphous "close in escrow" system they are not used to there being an absolute date where a loan has close & fund, but whatever it is, there is no sense of urgency out there. If you want to start a mortgage operation, start it in North Dakota or some place where people are used to getting up in the dark at 4:30 AM at 35 degrees below zero to milk cows. Don't try to run a mortgage operation someplace where yelling "surf's up" will leave your office empty.

Re: Official: IndyMac is Done

morganb — Mon, 07 Jul 2008 20:38:06 -0000

so right don, so right. round two (or three, who's counting?!?!?) here we
go...

Re: Official: IndyMac is Done

Don — Mon, 07 Jul 2008 20:34:22 -0000

It's interesting, the rumors have been flying for DAYS on ml-implode.com for days. As I just said to Morgan in an e-mail, we're just starting Part Deux of this disaster.

Correct me if I'm wrong, but weren't people on CNBC just saying a few weeks ago that the worst is behind us.

Yeaaaaaaaaaahhhh, ABOUT THAT!!!!!!!!

Re: Official: IndyMac is Done

Employee — Mon, 07 Jul 2008 18:00:01 -0000

YIKES!!!!!!!!!!!!!!!!!!!!!!!!!!
INDYMAC GOING DOWN!!!!!!!!!!!!!!!!!!!!!!!!