On July 11, IndyMac, a spinoff of Countrywide, was seized by federal regulators-and called for a $32 billion bailout-as the mortgage lender succumbed to the pressures of tighter credit, tumbling home prices and rising foreclosures.
IndyMac was seized by federal regulators-as the mortgage lender. This was on July 11. IndyMac was called for a $32 billion bailout-as the mortgage lender. This was on July 11. This mortgage lender was succumbed to the pressures of tighter credit. Tighter credit was tumbling home prices. Tighter credit was tumbling rising foreclosures. IndyMac was a spinoff of Countrywide.