IndyMac is under investigation by the FBI for possible fraud involving home loans made to risky borrowers, The Associated Press reported on Wednesday, citing an unnamed law enforcement official.

The report said it was not immediately clear how long the FBI's probe of the bank has been ongoing but the probe is focused on the company and not individuals who ran the thrift institution.

U.S. banking regulators seized mortgage lender IndyMac on Friday after withdrawals by panicked depositors led to the third largest banking failure in U.S. history.

The FBI declined to comment on IndyMac, but a spokesman earlier on Wednesday said the FBI's probe of corporate fraud in the subprime lending industry had risen to 21, from 19 in April. He provided no details.

"The FBI currently has 21 investigations related to the subprime market industry. We receive information from a variety of sources on a daily basis, and we have an obligation to review each allegation on its merits," spokesman Jason Pack said when asked about IndyMac.

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