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by CareyBot

Shares of alt-A lender IndyMac Bancorp Inc. were in freefall this week after the company reported a significant increase in delinquencies among prime, first-lien loans in November, and said new policies being implemented by mortgage repurchasers Fannie Mae and Freddie Mac could limit future growth. IndyMac said that about 75 percent of its $4 billion in November loan production was eligible for sale to the government-sponsored enterprises (GSEs), with production of prime jumbo loans exceeding the $417,000 conforming loan limit totaling just $600 million. The GSEs have increased surcharges for borrowers with credit scores below 680 sometimes classified as "alt-A," and will require down payments of at least 5 percent on all loans in "declining markets" (see Inman News story). Alth...