IndymacBank has announced the securitization of $335 million of prime jumbo and alternative-A credit hybrid adjustable-rate mortgages that it traded in a private-label deal slated to settle on April 15. The company said it is taking an approximately $2 million pretax loss on the transaction, which is part of its "capital reduction/capital generation strategy." Indymac sold about $235 million of triple-A rated mortgage-backed securities and retained $100 million in primarily investment-grade bonds. "Other investors have expressed similar interest in these types of bonds, so we will continue to pursue these transactions," the company said. The IMB Report, the bank's online news page, can be found at http://www.theimbreport.com.
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