IndyMac Bank was a financial institution based in the United States, primarily known for its focus on mortgage lending. Founded in 1985, it grew rapidly during the housing boom of the early 2000s, offering various home loan products and services to consumers. However, the bank faced significant challenges during the 2007-2008 financial crisis, largely due to its exposure to subprime mortgages. In July 2008, IndyMac Bank was placed under the control of the FDIC (Federal Deposit Insurance Corporation) after it became insolvent, marking one of the largest bank failures in U.S. history.