http://blownmortgage.disqus.com/Mortgage and finance with a sarcastic bentenTue, 29 Jul 2008 16:34:59 -0000http://www.blownmortgage.com/romanticizing-greed-the-new-york-times-and-indy-mac#comment-1040360<p>Let's not let two-buck-Chuck Schumer off the hook so quickly. Indymac was like a patient on life support in the ER. His injuries are a result of his own reckless driving. Chuck's actions were equivalent to yanking life support from the patient. Would the patient have survived? We'll never know now, will we?</p>HezekiahTue, 29 Jul 2008 16:34:59 -0000http://www.blownmortgage.com/romanticizing-greed-the-new-york-times-and-indy-mac#comment-1040305<p><i>I remember talking to friends who used to send all of their loans to IndyMac. They would get max value on a “pushed” appraisal, an exception on a credit score under 620 and a maximum rebate on their pay option ARM loans that yielded them tens of thousands of dollars per transaction.</i></p><p>I worked for just such a broker, as his processor. This is no heresy; it happened so much, to such a disgusting degree, that I resigned that loan officer. I had done 5 years at Countrywide, fighting pressure to alter incomes on Fast &amp; Easy, to demand certain values from appraisers, and on and on. But it was this guy, this IndyMac enthusiast, that really drove me to say, "Enough!"</p><p>He also just LOVED to work with AHM.</p><p>Go figure.</p>anajayTue, 29 Jul 2008 16:30:45 -0000