IndyMac expects to revisit the asset-backed securities market as soon as this quarter under a new strategy that will ramp up its subprime home-equity loan business and establish a pattern of regular issuance for the company.

"I'm 50-50 about doing it in '99 at this point," said Jim Banks, executive vice president at IndyMac, referring to issuing a deal before year-end. "It's getting too tight to do something at the end of November, although I'm still considering that. December would not be a good time, unless we did it early in December."

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