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Turn your contacts into transfers! Make sure you take advantage of our referral program. For every new client you refer who orders 50 transfers, you'll get 5 free transfers — a value of up to $500!

 


I never thought this day would come. I'm sure you have heard by now, Indymac Bank has basically shut down their retail mortgage division and is laying off almost 4,000 employees. It also plans to close approximately 150 retail offices that originated loans directly to borrowers. Chief Executive of Indymac, Michael W. Perry, said "While the managers and employees in these units have worked incredibly hard, these units are not currently profitable due to the continuing erosion of the housing and mortgage markets," Indymac was one of the largest mortgage lead buyers in the industry so this news really is a sign of how much this market is struggling right now.

That being said, we are re-evaluating our own business model, here at DoublePositive, in order to adjust to current market conditions. We are constantly looking for more ways to work together and we have created two new viable options for you.

We will be introducing two new products:
  • ARM transfers
  • "All you Can Filter" transfers

I'd be happy to share the details of these new products, just give me a call to discuss. My direct line is 443-278-8566.





Los Angeles Times
IndyMac to exit most home lending, slash 3800 jobs
IndyMac's woes are a reflection of the financial industry's persistent troubles from the mortgage meltdown and the resulting credit crisis. ... Full Story


Bloomberg
US Economy: Pending US Home Resales Drop More Than Forecast
Continued declines in home prices and increases in mortgage rates will probably extend the slump in sales. The average rate on a 30-year fixed mortgage ... Full Story


Wall Street Journal
Mortgage Giants Take Beating On Fears Over Loan Defaults
Home buyers are having a tougher time getting mortgages as lenders feel the squeeze from defaults. IndyMac Bancorp Inc., a big mortgage lender during the ... Full Story


TIME
Fed to Curb Shady Home-Lending Practices
To prevent a repeat of the current mortgage mess, Bernanke said the Fed will adopt rules cracking down on a range of shady lending practices that has burned ... Full Story


Washington Post
Housing rescue advances in Senate
A mortgage rescue plan to save hundreds of thousands of homeowners from foreclosure drew overwhelming Senate ... Full Story


MSNBC
Buy or sell your home despite the shaky economy
According to mortgage research firm HSH Associates' latest survey, mortgage rates have risen about half a percentage point over the past ... Full Story






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888-376-7484