Complex sentence: In 2009, a group led by Mnuchin bought California-based residential lender IndyMac, which had been in receivership by the FDIC and owned owned $23.5 billion in commercial loans, mortgages, and mortgage-backed securities.
Split into simpler sentences: In 2009, a group led by Mnuchin bought California-based residential lender IndyMac, which had been in receivership by the FDIC. IndyMac owned $23.5 billion in commercial loans, mortgages, and mortgage-backed securities.