IndyMac is one of the country’s largest mortgage lenders and has a sizable book of poorly performing loans. See the WSJ article for more info.
Our mortgage lenders continue to say there is lots of money out there. But it seems to me that many are having a hard time managing it. They go along fine and suddenly the short sales and foreclosures catch up to them. It always sounds like it happens quickly but IndyMac has been on steady decline since mid-2007.