Hints and tips:
...In 2009, Mnuchin led a group of private equity investors that bought IndyMac, a mortgage lender that failed in the 2008 financial crisis, from the Federal Deposit Insurance Corporation....
...Mnuchin and Joseph Otting, the former regulator who has taken over as NYCB chief executive, have a history of rebuilding troubled lenders: they bought failed mortgage lender IndyMac from the FDIC in 2008...
...After rising through the ranks at Goldman Sachs, he made his fortune reviving IndyMac after it was one of the largest US bank failures during the 2008 crisis....
...The Pasadena-based bank, formerly known as IndyMac, was a specialist in so-called “low-doc” loans that fuelled the housing meltdown....
...M&T Bank’s deal to acquire Hudson City Bancorp has been on ice for almost two years as regulators criticised M&T’s anti-money laundering procedures....
...The SEC has sued the former chief executives of New Century, IndyMac and Countrywide. Some of the executives have settled while others are fighting the allegations....
...RBS bundled home loans from subprime lenders Fremont General, First Franklin Financial, Countrywide Financial, IndyMac and WMC Mortgage and packaged them into securities for sale to investors, Ms Coakley...
...Also under review are 575 foreclosures at OneWest, formerly known as IndyMac; 87 at HSBC; 80 at US Bancorp; 56 at Aurora, formerly known as Lehman Brothers Bank; 25 at MetLife; six at Sovereign; and three...
...The SEC on Friday accused Michael Perry, IndyMac’s one-time chief executive, and former finance chiefs Scott Keys and S....
...Mr Laughlin has drawn on his experiences running OneWest Bank, the entity that emerged from IndyMac Bancorp’ failure....
...And last year private equity consortiums bought the rumps of two troubled US banks – BankUnited and IndyMac. But those are small exceptions to the rule....
...The fallout, however, remains very costly: the estimated cost is $4.9bn, or 57 per cent of deposits, just pipping IndyMac as proportionately the most costly failure since 2007....
...Not everyone agrees where value lies, as in the case of US mortgage lender IndyMac Bancorp....
...Shares in Washington Mutual and IndyMac, two other bankrupt financial institutions, have also risen sharply in recent days....
...But it is not clear it needs to cover other creditors of a bank, as the failures of IndyMac and Washington Mutual attest....
...Mr Paulson was also part of the consortium of financiers who acquired IndyMac several months ago....
...The US Treasury Department’s inspector general is probing the Office of Thrift Supervision for permitting a backdated capital infusion into IndyMac Bancorp a few months before its collapse in July, reports...
...Advent has completed a $2.35bn deal with Fifth Third Bancorp to buy a 51 per cent stake in the Cincinnati-based lender’s payment processing arm....
...Under the original FDIC plan, pioneered at IndyMac, a bank that was taken over by regulators before it was sold to investors, loan modifications would only be offered to borrowers whose loans were in arrears...
...Ernst & Young, IndyMac’s auditors, also agreed to acknowledge the $18m infusion as first-quarter capital, according to Mr Thorson....
...Today IndyMac has $6.5bn in deposits, $16bn in loans and a $6.9bn securities portfolio. Prior to the bank’s failure in July, IndyMac had relied heavily on brokered deposits....
...IndyMac Bancorp, one of the largest commercial bank failures of the financial crisis, is close to being sold to a consortium of private equity and hedge fund investors, according to people close to the talks...
...also agreed, as part of a deal to acquire the deposits of two failed banks, to implement a loan modification programme similar to the one the Federal Deposit Insurance Corp is using for mortgages held by IndyMac...
...IndyMac, a large local lender, was recently taken over by federal regulators, and Countrywide Financial, one of the biggest mortgage lenders, was acquired by Bank of America to avert collapse....
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