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IndyMac Probe Uncovers Backdated Cash Infusion

By KELLY CURRAN

The Office of Thrift Supervision just might need some supervision for itself. The Treasury Department’s independent investigator revealed Monday that OTS allowed IndyMac Bancorp, formerly one of the nation?s largest Alt-A mortgage lenders, to backdate an $18 million capital infusion to maintain its status as a “well-capitalized” institution — hence, escaping regulatory restrictions — just two [...]

Full post as published by Housing Wire on December 23, 2008 (boomark / email).