Prospect Mortgage acquires IndyMac mortgage retail branches – NMP Skip to main content

Prospect Mortgage acquires IndyMac mortgage retail branches

National Mortgage Professional
Aug 11, 2008

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 IndyMac. 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.
Published
Aug 11, 2008
Mortgage Industry Will Soon Be ARMed To The Teeth

ARM loans might be a saving grace to borrowers who recently purchased a home, but it comes with risks.

Industry News
May 20, 2022
Battle Between Loan Originators Gets Sparkly and Dirty

Flowers is suing both Durosko and Peevey for these pranks, demanding compensation for their harmful acts, but that doesn’t tell the whole story. 

Industry News
May 18, 2022
FirstClose Receives $35M Investment From Lateral

Fintech says it will use the investment to expand its growing financial services footprint.

Industry News
May 18, 2022
Mortgage News Network Launches Podcast On Helping Underserved Borrowers

'Gated Communities' looks at why homeownership gap is increasing, and what lenders are doing to reverse the trend.

Industry News
May 17, 2022
Class Valuation Appoints EVP Of Valuation Modernization

Cristy Conolly will focus on removing bias from the equation in appraisals.

Industry News
May 17, 2022
Open Mortgage Appoints New Chief Financial Officer

Anthony Nolte, Open Mortgage's CFO since 2019, will transition to chief legal officer.

Industry News
May 17, 2022