1 Dead, 1 Acquired & Several Hurting - Mortgage Forums for Mortgage Brokers

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1 Dead, 1 Acquired & Several Hurting

#1 (permalink)

05-14-2008, 05:49 PM

Veronica Corningstone Veronica Corningstone is offline

Corner Window Office

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1 Dead, 1 Acquired & Several Hurting

E*TRADE Financial Corp. reported in a Securities and Exchange Commission filing that it closed its retail mortgage origination business during April. Emerson Lending Co. was acquired by Greenpark Mortgage Corp., according to an announcement. The long-term issuer default ratings of IndyMac Bancorp Inc. and IndyMac Bank were downgraded by Fitch Ratings because of challenges in returning to profitability and its decision to defer dividend payments on preferred stock.

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