NYMT Sells Lending Platform On Back Of Alt-A Defaults

03 Apr 2007

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.

--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 ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial