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IndyMac Hiring AHM Employees

Former employees of 2 WA branches hired

August 8, 2007

By JERRY DeMUTH


IndyMac Bancorp is hiring some former employees of American Home Mortgage, which filed for bankruptcy Monday but had begun closing offices last week.

"We have made offers of employment to a number of people who were formerly with American Home Mortgage and we are hiring some of their former people around the country," Grove Nichols, IndyMac's corporate communications director, told MortgageDaily.com.

"There's a lot of cities, mainly in the western United States at this point," where the offers are being made, he said. "A lot are in California."

The number of former American Home employees IndyMac is hoping to hire is, he said, "in the hundreds."

Those agreeing to IndyMac's employment offers include the staff of both of American Home's two offices in Bellingham, Wash.

"IndyMac has made an offer of employment for us and this particular branch is going to accept the offers made by IndyMac and will move forward as IndyMac Bank," Christy Austin, manager of one of the Bellingham offices told MortgageDaily.com. "We'll be one of IndyMac's first retail offices here in the northwest [of Washington State]. But a lot of things are still in negotiations."

She said her office has six staff members.

All the former American Home employees at that company's other Bellingham office have also accepted IndyMac's employment offers, she added.

IndyMac, which is headquartered in Pasadena, Calif., currently has three Washington State offices in Spokane, Vancouver and Bellevue, a suburb of Seattle that is about 85 miles south of Bellingham.

IndyMac currently has no arrangement or agreement to take over American Home's actual offices, Nichols said.

"We did not negotiate anything with American Home at all in terms of taking over their offices or buying any of their equipment or buying any piece of the company," he explained. "But there may be discussions going on between us and the bankruptcy trustee and maybe we will work something out."

Everything involving American Home property would be under the control of the bankruptcy trustee, Nichols pointed out.

The employment offers to former American Home employees come just a month after IndyMac laid off 400 of its own employees.


Jerry DeMuth is an award winning journalist who has been reporting for four decades.

e-mail Jerry at [email protected]
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