July 14, 2008 / 8:56 PM / 9 years ago

FDIC's Bair halts foreclosure on IndyMac mortgages

WASHINGTON, July 14 (Reuters) - The Federal Deposit Insurance Corp has temporarily halted any foreclosures on the $15 billion of bank-owned mortgage loans found in IndyMac's portfolio, FDIC Chairman Sheila Bair said on Monday.

Bair said in an interview on CNBC television that IndyMac, which the FDIC took over after it failed on Friday, had a $200 billion mortgage servicing portfolio.

She also said the "overwhelming majority" of U.S. banks are "safe and sound." (Reporting by Karey Wutkowski; Editing by Tim Dobbyn)

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