Industry News

IndyMac earnings fall 57%

Alt-A lender forced to repurchase $443 million in loans this year
Published on Jul 31, 2007

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by CareyBot

Alt-A lender IndyMac Bancorp Inc. saw second-quarter earnings fall 57 percent from a year ago, to $44.6 million, thanks to higher credit costs and lower profit margins. Single-family mortgage production for the second quarter actually grew by 12 percent over ...