In the wake of a federal takeover of IndyMac Bancorp Inc., the Federal Bureau of Investigation is investigating 21 mortgage companies for possible mortgage lending fraud.
The Pasadena, Calif.-based lender was shut down Friday by the Office of Thrift Supervision and its assets seized by the Federal Deposit Insurance Corp. when the regulators doubted the bank could meet its depositors’ withdrawal demands.
IndyMac is one of the banks being investigated, according to law enforcement sources cited in published reports, though the FBI declined to name the companies.
“Given the volatility of today's subprime market, we have seen an increase in subprime-related complaints,” FBI Special Agent Richard Kolko. “To protect the integrity of our cases, we do not confirm or comment about specific companies that may or may not be a part of our investigations," he said.
A call to IndyMac's press office was referred to the FDIC who declined to comment.
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