Financial Freedom Enhances The Cash Account Jumbo Reverse Mortgage To Offer Seniors Improved Access to Their Home Equity

"The Cash Account Advantage provides seniors, especially youngerseniors with higher value homes, greater access to their home equity,and more choices on how to take advantage of the benefits of a reversemortgage," said James Mahoney, CEO of Financial Freedom. "With CashAccount Advantage, a 65-year-old senior can access 75 percent morehome equity while a 75-year-old can access 47 percent more home equitythan with our previous offering."

Due to the lending limits on the HECM, the most popular of thethree reverse mortgage products available, seniors with higher valuehomes between $450,000 and $750,000 in particular are disadvantaged.With Cash Account Advantage, these seniors have the option to access agreater percentage of their home equity. In addition, seniors who optto receive 100% of their loan proceeds in a lump sum at time ofclosing, incur no closing costs or origination fees.

The Cash Account Advantage reverse mortgage retains all of thebenefits and important consumer safeguards of the previous CashAccount including:

-- Borrower retains title to home.

-- Loan is non-recourse; borrower can never owe more than the home is worth.

-- Unless a material default occurs, the loan does not have to be repaid until borrower permanently leaves or sells the home.

-- Eligible home types: single-family detached, manufactured, condo, PUD, 1-4 rental unit if one unit is owner occupied.

-- Cash benefit can be taken as a line of credit, a lump sum or a combination.

-- Mandatory counseling by an independent counselor to ensure borrower understands the terms.

-- Financial Freedom also developed a proprietary process that performs a side-by-side comparison of products to help the borrower choose a product that fits his/her circumstances.

Reverse Mortgages Explained

Reverse mortgages enable senior homeowners 62 or older to convertpart of the equity in their home into tax-free income without havingto sell the home, give up title, or take on a new monthly mortgagepayment. Borrowers will never, under any circumstances resulting fromthe reverse mortgage, be forced to leave their homes providing theyretain their ownership interest, make their real estate property taxand insurance payments and pay other obligations that may become apriority lien against their home.

Borrowers can choose to receive the reverse mortgage funds as alump sum, monthly income (for up to life), or line of credit, or anycombination. Borrowers can use the funds anyway they wish and theymake no monthly payments on a reverse mortgage during the life of theloan. Unless a material default occurs, the loan becomes repayablewhen the borrower sells the home or permanently moves out. Inaddition, the repayment amount can't exceed the value of the home.

About Financial Freedom

Financial Freedom Senior Funding Corporation, a subsidiary ofIndyMac Bank, F.S.B., headquartered in Irvine, California, is thelargest originator of reverse mortgages in the United States.Financial Freedom originated over $2.9 billion in loan fundings on$9.1 billion in home value in reverse mortgages in 2005 and is now thelargest servicer of reverse mortgages with a servicing portfolio ofapproximately 77,000 loans.

Financial Freedom is a founding member of the National ReverseMortgage Lenders Association. NRMLA is a nonprofit trade association,based in Washington, DC, whose mission is to support the continuedevolution of reverse mortgages as an important financial option forsenior homeowners while educating both its members and consumers aboutthe varied applications of this unique loan. For more information,visit the Financial Freedom Web site at www.financialfreedom.com.

Members sign a Code of Conduct pledging to abide by guidelinesthat assure fair, ethical, and respectful practices in offering andmaking reverse mortgages to seniors. For more information, visit theNRMLA Web site at www.reversemortgage.org.

(R)2006 Registered trade/service marks are property of FinancialFreedom Senior Funding Corporation, A Subsidiary of IndyMac Bank,F.S.B.

(C)2006 Financial Freedom Senior Funding Corporation

About IndyMac Bancorp, Inc.

IndyMac Bancorp, Inc. (NYSE: NDE) (Indymac(R)) is the holdingcompany for IndyMac Bank, F.S.B. (Indymac Bank(R)), the largestsavings and loan in Los Angeles and the seventh largest mortgageoriginator in the nation. Indymac Bank, operating as a hybridthrift/mortgage banker, provides cost-efficient financing for theacquisition, development, and improvement of single-family homes.Indymac also provides financing secured by single-family homes andother banking products to facilitate consumers' personal financialgoals.

With an increased focus on building customer relationships and avaluable consumer franchise, Indymac is committed to becoming a topsix mortgage lender in the U.S. by 2010, while maintaining annualizedearnings per share growth in excess of 15 percent. The company isdedicated to constantly raising expectations and conducting itselfwith the highest level of ethics.

For more information about Indymac and its affiliates, or tosubscribe to the company's Email Alert feature for notification ofcompany news and events, please visithttp://about.indymacbank.com/investors.