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Non-Tech : NDE: IndyMac Bancorp, Inc.

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From: D.Austin10/18/2001 10:36:45 AM
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If 25 is broken---shes heading for -22
One item of note, given the strong refinance environment, is that IndyMac's servicing portfolio is approximately equal to its annual loan production run rate. This compares to the top mortgage originators whose servicing portfolios generally approximate 2 to 3 times their annual loan production. These servicers tend to benefit more and are able to increase loan production at a faster rate due to streamlined refinancing of loans in their portfolios and gain market share in this environment, but are subject to greater interest rate risk due to servicing impairment. Conversely, IndyMac tends to lose market share in the current environment and gain market share in a non-refinance environment as it focuses on its sales and marketing metrics to drive production.
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