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Downey Savings and Loan Association F.A. Profile
Last Updated Wednesday, January 16, 2013 12:28 PM Texas Time


Downey Dead
The failure of two California-based thrifts will cost the government insurance funds more than $2 billion. Another institution will acquire the assets and deposits of both failed firms -- potentially creating a new No. 6 mortgage lender.


Company Name:

Downey Savings and Loan Association F.A.


Parent:

Downey Financial Corp.


Stock Symbol:


DSL

Headquarters Address:

3501 Jamboree Road
Newport Beach, CA 92660


Number of Employees:


1,974 full-time (as of Dec. 31, 2006)

651 part-time (as of Dec. 31, 2006)


Web site:

www.DowneySavings.com


Chairman of the Board:


Michael D. Bozarth


Vice Chairman of the Board:


Gary W. Brummett


President:

Charles R. Rinehart


CEO

Charles R. Rinehart


Residential Production:

2008 $2.3 billion (through Sept. 30)

2007 $3.782 billion

2006 $7.829 billion

2005 $14.8 billion


Residential Loans Held for Investment:


$11.0 billion as of Sept. 30, 2008


Commercial Mortgages Held for Investment:


$0.2 billion as of June 30, 2008


Loans Serviced for Others:


$5.3 billion as of Sept. 30, 2008

Latest news about Downey Savings and Loan Association F.A.:

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Mortgage Investor Lawsuits - Second-Quarter 2011 Mortgage Litigation Index | Sept....
FDIC as receiver for Downey Savings & Loan Association United States District ... 2.4 million in fraudulent loans to Downey S&L before Downey failed. The FDIC claims the losses
www.mortgagedaily.com/InvestorLawsuits092611.asp
 
Mortgage Investor Lawsuits - 3rd-Quarter Mortgage Litigation Report | MortgageDail...
com/InvestorLawsuits090309.asp Downey Financial Corp., Daniel D. Rosenthal, Maurice ... defendants misled investors. Stephen J Mihalacki v. Downey Financial Corp. et al. No. 8:2008cv00609
www.mortgagedaily.com/InvestorLawsuits111609.asp
 
Banks Cut Over 2,000 Jobs - Recent mortgage-related layoffs | MortgageDaily.com
Newport Beach-based Downey Savings and Loan Association, F.A., after ... 990 Newport Beach layoffs during the fourth quarter. Downey had just 2,260 employees when it failed.
www.mortgagedaily.com/Layoffs110909.asp
 
Bank Orders Fly - Recent regulatory orders issued against U.S. financial...
a. Downey, Robert; The First National Bank of Stratton Stratton, Colo. OCC Sep. 17 2009-143 n.a. Fjellman, Scott R.; Marshall Bank, N.A. Hallock, Ga. OCC Aug. 28 2009-147 n.a. Fox
www.mortgagedaily.com/Regulatory101909.asp
 
Investor Litigation Shifting to MBS - Recent mortgage-related investor lawsuits | ...
The plaintiffs' MBS investments were $26 million. A class action against Downey Financial Corp. in the U.S. District Court for the Central District of California has been
www.mortgagedaily.com/InvestorLawsuits090309.asp
 
Nearly 2,500 Layoffs - Recent mortgage-related layoffs | MortgageDaily.com
Beach, Calif.-based Downey Savings and Loan Association, F.A., after it failed, plans 514 Newport Beach layoffs this year, according to WARN filings with the California Employment
www.mortgagedaily.com/Layoffs081009.asp
 
OTS at Heart of Bank Crisis - Regulator oversaw failures of IndyMac, BankUnited...
IndyMac, WaMu and Downey Savings and Loan Association, F.A., failed. Through last month, the OTS -- which regulated only 810 thrifts as of Dec. 31, 2008 -- had already seized four
www.mortgagedaily.com/OtsRegulate060909.asp
 
Banks Keep Cutting Jobs - More than 2,300 layoffs planned at several banks...
Former employees of Downey Savings and Loan Association, F.A. -- which saw its operations seized by bank regulators in November 2008 and sold to U.S. Bank, N.A. -- are being laid
www.mortgagedaily.com/Employment051309.asp
 
The Secondary Scoop - Recent secondary marketing activity | MortgageDaily.com
Servicing LLC from Downey Savings. On the commercial side, Mission Capital Advisors LLC recently put a $21 million defaulted commercial mortgage up for bid. The recently renovated
www.mortgagedaily.com/Secondary040709.asp
 
Over 300 Mortgage-Related Failures - Mortgage Graveyard 2008 update | MortgageDail...
Downey Savings and Loan Association, F.A., IndyMac Bank F.S.B. and Washington Mutual Bank -- the biggest bank failure in U.S. history. Credit union failures totaled 14 last year,
www.mortgagedaily.com/PressRelease011209.asp
 
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