Indymac reported today that it is out of the mortgage lending business, and - reading between the lines - out of business. The sad part of the story are the thousands of very capable people, many of whom are ex-colleagues and friends of mine from American Home Mortgage, whose jobs are being cut - again. Word on the street has it that the many retail folks will be teaming up with a new suitor.
Bankrate is finally showing that it is not invulnerable, downgrading its 2008 profit outlook.
1 comment:
Hi
I think that is amazing news for buyers because now the low rate is hit to buyer.
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