Summary
PASADENA - The meltdown of the subprime loan market prompted IndyMac Bancorp Inc. to issue a statement this week clarifying its position in the industry.
The Pasadena-based holding company for IndyMac Bank says it has been "inappropriately categorized by many media sources as a subprime lender, and we wish to clarify our position as predominantly a prime/Alt-A lender," the statement said.See the full content of this document
Extract
Indymac Clarifies Role in Lending
In fact, only 3 percent of Indymac's $90 billion in mortgage loan production in 2006 was subprime, the bank sai...
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