Monday, July 07, 2008

IndyMac Done; BankRate Down

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:

Anonymous said...


I think that is amazing news for buyers because now the low rate is hit to buyer.