June 30 (Bloomberg) -- IndyMac Bancorp Inc., the Pasadena, California-based mortgage company that's lost 90 percent of its market value this year, may soon close some operations, Chief Executive Officer Michael Perry said.

``We're certainly going to whittle back some of our business activities,'' Perry said in a telephone interview today. ``We don't have anything finalized, or even the plans developed right at this moment.''

Tumbling home prices and record foreclosures have led customers to withdraw deposits and contributed to $900 million of losses at IndyMac in the past three quarters. Senator Charles Schumer called on regulators last week to scrutinize the financial health of the company, which he said was in danger of failure if protective measures weren't taken.

Perry said that speculation the company has decided to exit home lending completely ``is just a rumor. There's no basis in fact for it today.''

IndyMac tumbled 19 cents, or 23 percent, to 62 cents at 4 p.m. today on the New York Stock Exchange. The stock has fallen 57 percent in the past week.

In a blog posting today responding to Schumer's letters, IndyMac said it's working with regulators to improve the ``safety and soundness'' of the company. The company said the New York Democrat was wrong in suggesting it is too dependent on brokered deposits. IndyMac said it has a diversified funding model and that brokered deposits will become a smaller percentage of overall funding in the coming quarters.

Since Schumer's letter on June 26, customers have withdrawn about $100 million from the bank's branches, or about 0.5 percent of total deposits, IndyMac said.

``We are hopeful that this issue appropriately abates soon, so that we can focus, with our regulators' involvement, on the important issue of continuing to keep IndyMac Bank safe and sound through this unprecedented crisis,'' the company said on the blog.

To contact the reporters on this story: Jody Shenn in New York at jshenn@bloomberg.net; Ari Levy in San Francisco at alevy5@bloomberg.net

Last Updated: June 30, 2008 18:46 EDT