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The earnings report from IndyMac will shed light onto 2008 for the mortgage industry


The nations seventh largest mortgage company reported their 2007 Q-4 earnings today, what we have learned:

The mortgage industry continues to hammer mortgage lenders as Indymac affirmed today with their 2007 fourth quarter earnings. The company had actual charge offs for the 4th quarter of 179 million and issued another five hundred and nine million in loss provisions. This has been a common theme with mortgage lenders who are writing down the value of their assets in anticipation that borrowers will continue to skip making their mortgage payments or simply allow the property to go into foreclosure. Indymac did issue a statement that they expect to return to profitability in 2008 and this could be aided by the recent surge of refinance applicants in the market, continued easing of the fed funds rate, larger loan size limits for agency loans through Fannie Mae and Freddie Mac. The stock price has traded between $4 -$40 over the past 12 months.

2-12-2008 ? LoanNetwork.com





indymac earnings @ loannetwork.com

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