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Big IndyMac Loss, Lower Volume

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11-06-2007, 08:38 AM

Veronica Corningstone Veronica Corningstone is offline

Corner Window Office

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Big IndyMac Loss, Lower Volume

A third quarter loss of $203 million was reported IndyMac Bancorp. "While this loss is substantially higher than we had been forecasting, it was clearly not unexpected given the magnitude of the losses being reported by others in our industry and the recent decline in our stock price," the company's chairman and chief executive officer said in the report. Third quarter residential originations fell 2

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« Mortgage Guidelines, Demand Constricts | IndyMac mortgage loss dwarfs its own forecast (Reuters) »

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