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  Home >> Bank Failures

Who Gets My Mortgage Payment?

Now that IndyMac has been taken over, do I make my mortgage payment directly to the FDIC?


Don't change a thing! The FDIC has already posted information for IndyMac borrowers. The short version is that you should continue making your payments exactly as you have in the past. Use the same payee and mail your checks to the same address, at least for now.

If and when there is a change, you'll get a notice from the new bank's management. That notice will probably come in a loan billing statement. If it arrives separately, you should be wary about the potential for a scam artist to take advantage of the situation by trying to intercept your payments. You can check the validity of a notice to change the payment name or address by contacting IndyMac Federal Bank (the new bank) by telephone or by checking its website at www.IndyMac.com. Summing up, there's no need to make a change for now, but things could change.

Published on BankingQuestions.com 7/18/08