IndyMac Bancorp Inc. will be making “very major changes” to its lending requirements and may raise interest rates it offers on home loans because of a slump in mortgage securities, according to an e-mail to employees.

The Pasadena-based lender, which reported better-than-expected earnings Tuesday, said in the e-mail that the market for mortgage bonds has become “very panicked and illiquid,” adding that the mortgage market “might take longer to correct” than initially thought. No other specifics were mentioned in the e-mail, which was sent by Chief Executive Michael Perry Thursday morning.

Shares in IndyMac were down 16 cents to $20 in afternoon trading Thursday on the New York Stock Exchange. Shares are down 56 percent for the year.