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IndyMac, a contraction of Independent National Mortgage Corporation, was an American bank based in California that failed in 2008 and was seized by the United States Federal Deposit Insurance Corporation (FDIC). Before its failure, IndyMac Bank was the largest savings and loan association in the Los Angeles area and the seventh largest mortgage ...
OneWest Bank, a division of First Citizens BancShares, was a regional bank with over 60 retail branches in Southern California. OneWest Bank specialized in consumer deposit and lending including personal checking and savings accounts, Money Market accounts, CDs, and home loan products. OneWest offered small business checking, savings, CD, and ...
The $1 billion investment ideally caps a rough period for NYCB. The bank on Jan. 31 reported a fourth-quarter loss of 36 cents a share that missed Wall Street expectations. It also slashed its ...
The 2007–2008 financial crisis, or the global financial crisis ( GFC ), was the most severe worldwide economic crisis since the Great Depression. Predatory lending in the form of subprime mortgages targeting low-income homebuyers, [1] excessive risk-taking by global financial institutions, [2] a continuous buildup of toxic assets within banks ...
In 2009, OneWest Bank Group, where Mnuchin was chairman and CEO, bought the troubled IndyMac after federal regulators took over the bank. Other big-name backers included funds tied to George Soros ...
In 2009, he was part of an investor group that acquired California mortgage lender IndyMac Bank for roughly $1.5 billion after it had been seized by the federal government during the 2008 ...
The Office of Thrift Supervision ( OTS) was a United States federal agency under the Department of the Treasury that chartered, supervised, and regulated all federally chartered and state-chartered savings banks and savings and loans associations. It was created in 1989 as a renamed version of the Federal Home Loan Bank Board, another federal ...
American Home Mortgage Investment Corporation. American Home Mortgage Investment Corporation was the 10th largest retail mortgage lender in the United States and was structured as a real estate investment trust (REIT). In 2007, it filed for bankruptcy and was liquidated. [2] [3] The company was focused on earning net interest income from self ...