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July 11, 2008
IndyMac to Exit Most Home Lending, Slash 3,800 Jobs
IndyMac Bancorp has announced that it will reduce its payroll by more than 50 percent in the wake of growing defaults by borrowers. The savings and loan is the latest in a series of major California-based lenders that have either been absorbed by other firms or forced to stop making home loans altogether.
Posted by S. Germain at July 11, 2008 08:05 AM