Prospect moving ahead with Indymac

NORTHBROOK - Prospect Mortgage announced it is moving forward with its acquisition of the majority of Indymac's retail mortgage branches by purchasing up to 80 of Indymac's loan offices nationwide. Through this transaction, Prospect will hire at least 750 employees from Indymac. The acquisition is scheduled to close on Aug. 7. The branches Prospect buys will remain in operation during the transition, funding loans and accepting new business. The Office of Thrift Supervision's seizure and the Federal Deposit Insurance Corporation's conservatorship of Indymac Bank will not terminate the acquisition or the branches' operation.