IndyMac Co-Founder, President Mozilo Resigns

* Mortgage banker IndyMac Mortgage Holdings Inc. said its co-founder, Angelo Mozilo, has resigned as president and vice chairman to devote full attention to his role as chairman and chief executive of Calabasas-based Countrywide Credit Industries Inc.

In a related announcement, IndyMac said Countrywide’s president and founding chairman, David Loeb, is retiring. Loeb will remain IndyMac’s chairman, the company said. IndyMac’s chief executive, Michael Perry, will now also serve as vice chairman to replace Mozilo.

Pasadena-based IndyMac, which is moving to become a consumer depository institution, added that its purchase of SGV Bancorp Inc., a West Covina-based savings and loan, will be delayed up to two months due to a backlog at the federal office of Thrift Supervision. The transaction had been scheduled to close in April.

As part of IndyMac’s organizational changes, Richard Wohl was named president and chief operating officer of IndyMac Mortgage Bank.

Separately, IndyMac said its management will recommend authorizing an additional $100 million to its share buyback program at its April board meeting. IndyMac shares fell 25 cents to close at $14.69 on the New York Stock Exchange.