The Epic American Credit and Bond Bubble Laboratory Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: ldo79	11/6/2007 10:26:24 AM
	of 110194

IndyMac mortgage loss dwarfs its own forecast By Jonathan Stempel 39 minutes ago IndyMac Bancorp Inc (IMB.N), one of the largest independent U.S. mortgage lenders, on Tuesday posted a quarterly loss more than five times larger than it had projected, hurt by mounting delinquencies and a collapse in investor demand to buy its home loans. The third-quarter net loss totaled $202.7 million, or $2.77 per share. It was IndyMac's first quarterly loss since the fourth quarter of 1998. Profit a year earlier was $86.2 million, or $1.19 per share. IndyMac also halved its dividend and said another cut is possible, after a 72 percent decline in its shares this year. Pasadena, California-based IndyMac, which is also one of the largest U.S. savings and loans, had on September 7 forecast a loss of nil to 50 cents per share. tinyurl.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next