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POPSFederal Regulators Assumed Control Of IndyMac Bancorp. Inc. In 2007, IndyMac was the nation's seventh-largest loan originator. But it ran into trouble that same year after getting caught up in the mortgage crisis. On Monday, the bank announced it was laying off about half of its 7,200 employees and would no longer make traditional home loans. IndyMac for years specialized in lending to people with credit not quite good enough to be considered prime, which is categorized as alt-A. In 2006, the company made $343 million in profits. But, starting in 2007, many of the bank's borrowers could not make payments. IndyMac lost $614.8 million in 2007, according to the bank's earnings statement, and was not able to find buyers for its loans, bank officials reported.
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