Many people are highly concerned about the state of banks and lending today. This is due in no small part to the troubles being faced by IndyMac. However, not all banks are suffering despite the problems they're dealing with in the industry.
One example of a bank that has managed to turn great profits despite these troubled times is EverBank. The bank has chosen to focus on low-risk investments and lending in order to continue making a profit in spite of the fact that there are many banks that are nearing bankruptcy. The efforts have been successful as EverBank reports ongoing profits.
One of the things that drove profits in recent months was the fact that EverBank opted to sell of its share of a Reverse Mortgage business. Reverse mortgage lending is considered to be less risky than other mortgage lending and has even been cited as one area of business that IndyMac hoped could keep it strong. However, EverBank's sale of the business may have helped secure profits that couldn't otherwise have been obtained.
Question of the Day: Are mortgage lenders facing serious problems or simply riding out rough waters?
