Recent Updates-
IndyMac Federal Bank, FSB (Federal Savings Bank) is a bridge bank created to manage assets and liabilities of IndyMac Bank, FSB until they can be disposed of. IndyMac Federal Bank is the largest savings and loan in the Los Angeles area and the seventh largest mortgage originator in the United States. The failure of IndyMac Bank on July 11, 2008, was the second or third largest bank failure in United States history, and the largest failure of a regulated thrift.
According to the Office of Thrift Supervision (OTS), in the nine months before it went into receivership, IndyMac incurred significant losses, severely depleting capital and jeopardizing the institution’s continued viability. IndyMac’s mortgage banking operations focused on Alt-A single family mortgages, which the bank could not securitize and sell in late 2007 due to the decline in the secondary market for non-agency mortgage loans. IndyMac moved $10.7 billion of loans intended for sale to the category of “held for investment” in the fourth quarter of 2007.
IndyMac Bank is a publicly held company, a wholly owned subsidiary of IndyMac Bancorp, Inc. The tagline of the company is: "Raise your expectations." The corporate headquarters of the bank are in Pasadena, California. IndyMac Bank is the seventh largest savings and loan institution in the United States. The bank provides a complete line of financing products and services. Primary funding of the bank composes of bank deposits, Federal Home Loan Bank advances, long term debt and home equity loans. Please try to contact INDYMAC BANK Customer Service directly prior to posting any complaints on this site.