IndyMac Bank Reclaims Top Position as #1 Overall Mortgage Web Site by Gomez

Business Wire, April 24, 2003

Business Editors

PASADENA, Calif.--(BUSINESS WIRE)--April 24, 2003

IndyMac Bancorp, Inc. (NYSE:NDE) ("IndyMac"), the holding company for IndyMac Bank(R), announced today that Gomez(TM), the Internet quality measurement firm, has once again named IndyMac Bank's Home Lending Web site (www.indymacmortgage.com) the number one overall Internet mortgage Web site for a sixth time since 2000. It also received the number one ranking for "Ease of Use" and "Relationship Services." IndyMac Bank held the overall position consecutively during five measurement periods from 2000 though 2002.

Gomez Scorecards(TM) measure the quality of online financial services offerings with a predominant focus on ease of use, customer confidence, onsite resources, relationship services and overall cost. IndyMac Bank's top ranking in the Mortgage Scorecard was due, in part, to its enhanced Web site features, which include "Should I Pay Points Calculator," "Mortgage Payoff Options," and "Free Home Evaluation Tool" that allows customers to obtain a free estimated value of a specific property.

"Our reclaimed number-one position reflects IndyMac Bank's commitment to provide the best online mortgage experience for our customer," commented Roger Molvar, Chief Executive Officer of IndyMac's Consumer Bank. "Our goal is to be the best in our industry, and Gomez helps us stay on top of it."

IndyMac Bank is one of the few mortgage lenders that combines online approvals for applicants with A to D credit, with online banking and bill payment. In addition, IndyMac rewards consumers who apply online with a $200 savings. Other key benefits and features of the Web site include the following:

-- An "e-Mortgage" demo on the homepage that takes potential

homebuyers through its simple process from online application

through loan status tracking, funding and account servicing

-- Guaranteed response time by IndyMac Bank within three hours or

the applicant receives $300 at closing

-- Custom-fit, risk-based pricing for online applicants across a

wide array of mortgage products

-- An application process that allows the customer to submit

online 24/7 and receive a verification letter within minutes

-- Rate alerts and a daily survey of rates and lender fees that

provide a comparison of other top online mortgage originators

-- The ability to lock a rate online for up to 60 days

-- An application process that responds to customer input (which

helps limit the number of required application questions) and

integrated help to every question

-- Spanish version with Spanish speaking loan consultants

-- Loan balance and payment history information post closing

-- A broad selection of loan products, including loans for new

home construction, credit-challenged borrowers and loans with

reduced documentation requirements

-- Live chat, messaging functionality and a home valuation

estimate tool

-- Timely and accurate telephone and Internet customer service.

Also, a "no voice mail" customer service hotline that connects

consumers with a customer service manager

With $9.6 billion in assets and a market cap of $1 billion, IndyMac Bank is an FDIC-insured 24/7 online consumer bank and one of the leading mortgage bankers in the country due to its award-winning asset generation franchise predominantly over the Web. Through its technology-based infrastructure and branch network in Southern California's San Gabriel Valley, IndyMac Bank is among the 25 largest mortgage lenders nationwide. It's a recipient of Mortgage Technology's 10X Award and Inman News Features' Most Innovative Use of Technology in Lending Award. Gomez Report ranked it as the number one overall online mortgage lender in the country for 6 measurement periods (5 of which were consecutive from 2000 - 2002), and it's been part of several listings which include Standard and Poor's Corporation (S&P) "Power-Picks 2002 and 2003 Portfolio," Fortune's 100 Fastest Growing Companies (September, 2002), and Business Week's Real World Internet Index (September, 2002). For more information about IndyMac and its affiliates, or to subscribe to IndyMac's e-mail alerts for prompt notification of company news and events, please visit IndyMac on the Web at www.indymacbank.com.

Gomez, Scorecard, and Gomez Internet Mortgage Sites Scorecard are trademarks of Gomez, Inc. All other trademarks, service marks and brand names are the property of their respective owners.

Forward-looking Statements

Certain statements contained in this press release may be deemed to be forward-looking statements within the meaning of the federal securities laws. The words "believe," "expect," "forecast," "anticipate," "estimate," "project," "plan," and similar expressions identify forward-looking statements that are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors, including the effect of economic and market conditions; the level and volatility of interest rates; the accuracy of subjective estimates used in determining the fair value of certain financial assets of IndyMac; the impact of recently issued financial accounting standards; the actions undertaken by both current and potential new competitors; the availability of funds from IndyMac's lenders to fund future mortgage loan originations or portfolio investments; the execution of IndyMac's growth plans related to the consumer banking operation; the impact of current, pending or future legislation and regulations; and other risk factors outlined in the reports that IndyMac files with the Securities and Exchange Commission, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and its reports on Form 8-K.