IndyMac No. 8 by 2008?

IndyMac Bancorp, Pasadena, Calif., says it hopes to be one of the 10 largest mortgage lenders by market share within four years.More specifically, IndyMac chairman and chief executive officer Michael Perry told attendees at a JMP Securities investors conference that he believes IndyMac will be among the top eight by 2008. Last year, IndyMac expanded its sales and marketing force to 848 positions, from 477 in 2002. Mr. Perry said IndyMac plans to leverage its mortgage banking infrastructure by expanding its sales force, adding geographical presence, and creating niche mortgage lending units. He also said the company can gain market share in a contracting mortgage origination environment because of its "all-weather product mix," which includes strength in alternative-A lending, adaptability to adjustable-rate lending, and home purchase orientation. IndyMac can be found online at http://www.indymacbank.com.