Report: IndyMac has buyer

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.

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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