July 1 (Bloomberg) -- IndyMac Bancorp Inc., the Pasadena, California-based mortgage company that lost 89 percent of its market value this year, said Chief Financial Officer A. Scott Keys resigned after going on medical leave two months ago.

Keys stepped down as of yesterday, IndyMac said today in a Securities and Exchange Commission filing. S. Blair Abernathy was named CFO when Keys began his leave on April 24.

``Mr. Key's resignation was not related to any concerns, issues or disagreements regarding the company's accounting policies or practices or financial disclosures,'' the company said in the filing.

Tumbling home prices and record foreclosures have contributed to $900 million of losses at IndyMac in the past three quarters. Senator Charles Schumer, a New York Democrat, 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.

IndyMac didn't provide details of Key's medical condition. The company agreed to pay him about $220,000 and forgive a $50,000 loan as part of his separation agreement.

To contact the reporter on this story: Dan Reichl in San Francisco at dreichl@bloomberg.net.

Last Updated: July 1, 2008 17:45 EDT