Sale of IndyMac’s Retail Branches Moves Forward as FDIC Shops Servicing and Reverse Mortgage Units
July 24, 2008
The Federal Deposit Insurance Corp. is looking to unload assets from IndyMac Bank by the beginning of October, including a mortgage servicing portfolio of $200.7 billion – the eighth largest servicing business in the industry. While the federal regulator grapples with troubled loans in the portfolio and continues to operate IndyMac’s reverse mortgage unit, a sale of many of the lender’s retail...