NYMT Sells Lending Platform On Back Of Alt-A Defaults

New York Mortgage Trust has sold its mortgage lending platform to IndyMac for $13.5 million, a decision made on the back of increasing Alt-A defaults and challenges within mortgage lending.

  • 03 Apr 2007

--Cathy Cunningham

New York Mortgage Trust has sold its mortgage lending platform to IndyMac for $13.5 million, a decision made on the back of increasing Alt-A defaults and challenges within mortgage lending. Indymac’s purchase includes the right to use the New York Mortgage Company name. “The sale is something ...

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