Indymac's Fall
Recently ready the blogs about the rate increase and get the news that one of the top 10 lender Indymac will shut off their lending business. Abrupt announcement from the bank that it will no longer accept new mortgage application. If you have submitted the application but did not lock your interest rate they will not honor your application..you need to go to another lender. If you have submitted an application and locked in your interest rate they will honor but the catch is it has be funded before August 15th for purchases and July 31st for refinances.
If we see more and more industry leaders droping out of the game while we are still in the mortgage crises who will resuce us.
Comment Notification
Subscribe to this post's comments using