IndyMac to the rescue of the bankrupt American Home Mortgage Investment Corp.
IndyMac BancorpINc. is the biggest US independent home lender and is hiring over 850 fomer employees of American Home Mortgage. This is a result of a drive to issue more loans to people with good credit.
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IndyMac is anticipating the new hires to bring in around $1 billion in new loans per quater in 20 states. IndyMac will be assuming leases on 90 offices where the employees worked. About 600 of the employees already have been hired, and the company is in discussions with 150 to 250 more.