Calculated Risk Tue 2009-09-22 09:30 EDT
Inspector General: FDIC saw risks at IndyMac in 2002
From the Inspector General Report: Between 2001 and 2003, [Division of Insurance and Research] DIR risk assessments and quarterly banking profiles identified concerns about a number of issues, including:*** consumers' ever-increasing debt load, the expansion of adjustable rate mortgages, and a potential housing bubble; *** subprime and high loan-to-value (HLTV) lending as a risk in the event that the United States economy suffered a significant recession; and *** pricing and modeling charge-off risk with respect to the originate-to-sell model of the mortgage business.
2002; Calculated Risk; FDIC saw risks; IndyMac; Inspector generally.