Prospect Mortgage acquires IndyMac mortgage retail branchesMortgagePress.comOffice of Thrift Supervision, Federal Deposit Insurance Corporation
Prospect Mortgage has
announced that it is moving forward with its acquisition of the
majority of IndyMac Federal Bank's retail mortgage branches by
purchasing up to 80 of IndyMac's loan offices nationwide. Through
this transaction, Prospect will hire at least 750 employees from
The branches Prospect buys will remain in operation during the
transition, funding loans and accepting new business. The Office of
Thrift Supervision's seizure and the Federal Deposit Insurance
Corporation's conservatorship of IndyMac Bank will not terminate
the acquisition or the branches' operation.
According to IndyMac Federal Bank, loans continue to be funded
under original terms, conditions and timelines. IndyMac loan
officers and personnel who are moving to Prospect will continue to
work directly with their borrowers. John Johnston and Ron Bergum of
IndyMac will remain leaders of the retail branch group following
the closing and will report to Mark Filler, CEO of Prospect.
Based in Northbrook, Ill., Prospect Mortgage is a mortgage
lender focused on high-quality residential loans. For more
information, visit www.prospect.mtg.com.