Indymac Hires 600+ Ex-AHM Employees

Indymac Bank FSB, Pasadena, Calif., has announced the hiring of more than 600 retail lending professionals recently laid off by American Home Mortgage Investment Corp.The new hires specialize in prime conforming, agency-eligible single-family mortgage products. Indymac Bank said it is still in discussions on hiring more ex-AHM employees and expects to wind up hiring a total of 750-850. "The addition of 750 to 850 former AHM retail lending professionals provides a strong complement to the acquisition of the retail lending division of New York Mortgage Co. on the East Coast, which we completed in the second quarter of 2007," said Frank Sillman, chief executive officer of Indymac's mortgage bank. "That acquisition added 440 retail lending professionals operating out of 29 branches. In addition, we are set to close on the purchase of certain assets of Barrington Capital in Newport Beach., Calif., at the end of August, which will add 90 more retail loan officers operating from six branches in California and Nevada." Indymac Bank can be found online at http://www.indymacbank.com.