IndyMac Today, Can BankUnited Be Far Behind?

Nitroglycerin Joined: 10 Sep 2007 Posts: 919

Rumor Mill Post: I got an email from a colleague of mine in Prescott, AZ last night stating he received an email from his Broker that said the BU is gone. Any insight? Wholesale only? Simply a Rumor. I have to say, the guy that sent me the email is not one that just starts rumors. He usaully watched what he passes on. I know that he likes to use BU, so maybe it is a little personal for him. I personally don't like to use them because they are like 129 days in U/W to get a counter offer approval. An insight, please post!

Posted: Thu Jan 31, 2008 3:46 pm

There were some earlier posts regarding this. It appears they have completly pulled out of certain states and I believe closed some regional offices.

Posted: Sun Feb 03, 2008 7:27 pm

Couldn't happen to a better bank... united...

Frankly, I shed no tears for them. I found the majority of them quite arrogant and pompus.

Typically 'I' like to be the arrogant and pompus one in the relationship!

Twisted Evil or Snarky

Dud? Joined: 04 Feb 2008 Posts: 12 Location: NV

jagster wrote:

There were some earlier posts regarding this. It appears they have completly pulled out of certain states and I believe closed some regional offices.

All offices west of the mississippi are gone. I was one of those people. There game plan is to stick to retail loans, auto,mortgage,installments ect... They will keep wholesale but only out of where there headquarters is based which is FL.

Dud? Joined: 08 Feb 2008 Posts: 11

Any guesses on the future of BankUnited? I think the shares are trading at under a $1.00. Poor devils, Dive...Dive...Dive! Shocked

C-4 Joined: 19 Jul 2007 Posts: 1468

Don't be surprised by anything that you see ---this coming week.

Bernanke has already said that there will be several bank failures.

I think Lehman Brothers may go, before Bank United.

C-4 Joined: 10 Jan 2008 Posts: 1137

It is one of those times to hold onto your seat. The ride this week is going to be wild to say the least. Bank United is certainly on the short list with WAMU and Downey.

Demolition Man Joined: 13 Dec 2007 Posts: 2388

I am concerned this is going to be a really bad week as well. Some of the folks that have just begun paying attention (and the ones that say we are all just being negative) may have a shocking week ahead.

C-4 Joined: 10 Jan 2008 Posts: 1137

title_gal wrote:

I am concerned this is going to be a really bad week as well. Some of the folks that have just begun paying attention (and the ones that say we are all just being negative) may have a shocking week ahead.

Negative? Us? What the..............?

That is so unfair as I am absolutley positive it will get worse before it gets better. See I have a positive outlook.

Here is how it works everytime every industry. The failures come hard and fast and the national news outlets feed the fear. Yes IndyMac failed but rates are still in the same range as they were mid week. House prices are lower to the same so now is a great time to buy. Once Matt & Meredith get handed some new material we will be able to get back to work rebuilding our industry and our careers. It will all come in small spurts and one day you will hit the couch at 10PM and think "oh my god I didn't stop today". Been here done this at least twice before, admittedly this is the longest valley yet but we also just came off the longest peak yet.

Posted: Sun Jul 13, 2008 3:41 pm

title_gal wrote:

I am concerned this is going to be a really bad week as well. Some of the folks that have just begun paying attention (and the ones that say we are all just being negative) may have a shocking week ahead.

Don't forget that Merrill and Chase AND Citi all come out with Earnings this week (Thursday and Friday). I wonder if they are willing to dump reality on the ol' Balance Sheet while we work thru the IndaMac failure and FRE/FNM struggle to stay out of Gov't. hands.

VERY interesting week ahead... Although the next Consumer Confidence figures aren't out 'til the end of the month, the cutoff date for input is also the end of this week... so the results of the Earnings will be amplified.

I say, " Oh poo poo!"