Indymac Bank, in a report posted on its corporate blog, reported that delinquencies and foreclosures continued to increase at the Alt-A powerhouse now trying to reinvent itself as a conforming lender. 30+ day delinquencies as a percentage of UPB (unpaid principal balance) for the total servicing portfolio rose from 6.62 percent in October to 7.12 percent in November, Indymac said, an increase of 50 basis points. Foreclosures also continued to shoot upward, reaching 2.21 percent in November -- a 14 percent increase in foreclosure volume in one month. The increase in foreclosures was driven across the credit spectrum, with prime first-lien loans in foreclosure increasing 28 basis points from October to November. Subprime first-lien delinquencies registered 9.12 percent. Loan production remains flat Total production in November was $4.0 billion, essentially flat compared to October, and down 53 percent from November 2006. Indymac's commitment to the broker channel was evident during November, with $2.4 billion of the thrift's origination volume coming from brokers -- by far the lion's share of production -- so not every bank has abandoned wholesale just yet. Interestingly, production via the Financial Freedom loan program -- Indymac's reverse mortgage platform -- was $367 million, down 5 percent compared with last month and down 19 percent compared with last year. The drop may portend increased competition in the space, as many brokers are turning to reverse mortgages amid continuing problems in more traditional origination channels. Also, Indymac said it did not fund homebuilder loan commitments in November , saying that it continues "to focus our efforts in this division on workouts, given the recent rapid increase in NPAs in this division." For more information, visit