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About: IndyMac     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:WikicatDefunctBanksOfTheUnitedStates, within Data Space : dbpedia.demo.openlinksw.com associated with source document(s)

Type: Thingcompanyschema:BankOrCreditUnionschema:Organizationdul:Agentdul:SocialPersonagentwikidata:Q24229398OrganizationBusiness enterpriseyago:WikicatBanksDisestablishedIn2008yago:WikicatBanksEstablishedIn1997yago:Abstraction100002137yago:DepositoryFinancialInstitution108420278yago:FinancialInstitution108054721yago:Group100031264yago:Institution108053576yago:Organization108008335yago:YagoLegalActoryago:YagoLegalActorGeoyago:YagoPermanentlyLocatedEntitybankorganisationyago:SocialGroup107950920yago:WikicatDefunctBanksOfTheUnitedStates New Facet based on Instances of this Class

IndyMac, a contraction of Independent National Mortgage Corporation, was an American bank based in California that failed in 2008 and was seized by the United States Federal Deposit Insurance Corporation (FDIC). It was heavily involved in Alt-A mortgages and reverse mortgages which in part resulted in its dramatic rise and has been suggested as the cause for its demise, as a large number of these questionable loans failed during the U.S. subprime mortgage crisis of 2007–2009.