Indymac Wholesale

[jillayne]

ML Implode is reporting that an announcement regarding the fate of Indymac is forthcoming tomorrow morning.

http://ml-implode.com/staticnews/2008-0 ... nally.html

Surely no one who reads this blog will be surprised.

The list of wholesale lenders is starting to get pretty small for the brokers.

[jillayne]

Here's an article with more info:

http://mrmortgage.ml-implode.com/2008/0 ... d-finally/

[TJ_98370]

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......Automated risk-based models, on which the entire market relied, replaced portions of traditional underwriting and credit evaluation, and only in retrospect is it now clear that these models did not perform as predicted........


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