By Martha Graybow Wed Aug 27, 11:48 AM ET NEW YORK (Reuters) - A federal judge has dismissed a lawsuit accusing the now-bankrupt mortgage lender IndyMac Bancorp Inc (IDMC.PK) of inflating the appraised values of homes and misleading borrowers into paying higher closing and financing costs.The ruling by U.S. District Judge John Koeltl in Manhattan was a victory for the Federal Deposit Insurance Corp., which seized IndyMac in July and asked for dismissal of the complaint, which had sought class-action status.
Plaintiff Virgen Cedeno had accused IndyMac of concealing the nature of its relationship with outside appraisers, saying she was misled about the equity in her home because of an inflated appraisal of her home's value.
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