November 6, 2007

IndyMac loss dwarfs own forecast (Reuters)

Construction work continues on new homes in Carlsbad, California September 18, 2007. IndyMac Bancorp Inc, 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. (Mike Blake/Reuters)Reuters – IndyMac Bancorp Inc , one of
the largest independent U.S. mortgage lenders, posted a
quarterly loss on Tuesday that was more than five times larger
than it had projected, hurt by mounting delinquencies and a
collapse in demand to buy its home loans.

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