The winner, according to the Web site Mortgage Lender Implode-o-Meter, is a private equity firm founded by two former partners from Goldman Sachs. The firm, Dune Capital Management, was initially funded by billionaire George Soros. The deal reportedly is for all of IndyMac; if true, it would run counter to speculation that the feds, now in control of IndyMac, would be forced to sell off the company in bits and pieces (they much prefer selling n institution in one piece). Assets included in the sale are $6 billion in retail deposits, 33 California branches, a $200 billion loan servicing portfolio, $16 billion in mortgage loans, and the reverse mortgage company Financial Freedom. Implode-o-Meter, which has scored several banking-related scoops, cited sources inside IndyMac.
More by Mark Lacter:American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent stories:Letter from Down Under: Welcome to the Homogenocene
One last Florida photo
Signs of Saturday: No refund
'I Am Woman,' hear them roar
New at LA Observed
On the Media Page
Go to Media
On the Politics Page
Go to Politics
Sign up for daily email from LA Observed