IndyMac sells $590 million in Alt-A MBS

IndyMac Bank last week sold $590 million in bonds backed by prime jumbo loans, the company said Monday -- the first bonds the lender has traded since July 19, when "fear-induced illiquidity" froze the market.

In a statement posted on the official company blog, IndyMac communications director Grove Nichols said the bonds traded Friday sold at prices below "historical ranges" but at smaller discounts than "fire sale" trades conducted by other lenders in recent weeks.

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