WASHINGTON — Approximately 40,000 delinquent mortgage loans serviced by failed thrift IndyMac Bancorp Inc. are eligible for a Federal Deposit Insurance Corp. loan modification program, Chairman Sheila Bair said Wednesday.

Bair, appearing before the U.S. House Financial Services Committee, said in her prepared remarks that nearly two-thirds of the 60,000 loans served by what is now IndyMac Federal Bank could be eligible for a systematic loan modification plan announced by the agency in August. These loans are eligible, she said, because they are either owned by the federally-controlled bank or serviced under securitization agreements that give the agency flexibility to modify the loans.

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