IndyMac Federal Bank, FDIC Program
What is the program that IndyMac Federal Bank and FDIC offer?	IndyMac Federal Bank has implemented this program to modify troubled mortgages. The program is designed to achieve affordable and sustainable mortgage payments for borrowers and increase the value of distressed mortgages by rehabilitating them into performing loans.
When does the program begin?	The program begins in Aug. 2008 and has no specified end date.
Who is eligible?	The eligibility requirements for this program are as follows: l      Must be a first mortgage and must be a loan owned, or securitized and serviced, by IndyMac Federal or other lenders participating in the FDIC Program. l      Primary residence and owner occupied. l      Loan is at least 60 days delinquent (where the loan is considered one day delinquent on the day following the next payment deadline). l      Borrower of a participating lender already seriously delinquent or in default. l      Borrower of a participating lender at risk of default due to payment resets or changes in the borrowers’ repayment capacities. l      Modifications would be designed to achieve sustainable payments at a 38 percent debt-to-income (DTI) ratio of principal, interest, taxes and insurance.
Who should I contact?	Call (800) 781-7399 or (877) 908-4357 to talk with an IndyMac Federal customer service specialist and find out if you qualify for a loan modification under this program.
What costs do I have to pay?	There are no fees or other charges for this modification. Additionally, all unpaid late charges will be waived.
How can I learn more about the program and start the application process?	To learn more about this program, visit either the FIDC Web site at http://www.fdic.gov or IndyMac at http://indymac.com/default.aspx?id=1178
Which lenders have adopted the FDIC Program?	The participating lenders include Downey Savings and Loan, PFF Bank and Trust, and Citigroup.