IndyMac INDX Mortgage Loan Trust 2007-FLX1

Mortgage Pass-Through Certificates

May 25, 2007 Distribution

External Parties

Table of Contents

Page

Seller

1. Certificate Payment Report

IndyMac Bank, F.S.B.

2. Collection Account Report

3. Credit Enhancement Report

Servicer(s)

4. Collateral Report

IndyMac Bank, F.S.B.

5. Delinquency Report

6. REO Report

Underwriter(s)

7. Foreclosure Report

Goldman Sachs & Co.

8. Prepayment Report

9. Prepayment Detail Report

Swap Counterparty

10. Realized Loss Report

Barclays Bank PLC

11. Realized Loss Detail Report

12. Triggers and Adj. Cert. Report

13. Additional Certificate Report

14. Other Related Information

Total Number of Pages

Dates

Contacts

Cut-Off Date:

January 01, 2007

Jennifer Hermansader

Close Date:

January 31, 2007

Administrator

First Distribution Date:

February 26, 2007

(714) 247-6258

Jennifer.Vandyne@db.com

Address:

Distribution Date:

May 25, 2007

1761 East St. Andrew Place, Santa Ana, CA 92705

Record Date:

April 30, 2007

Factor Information:

(800) 735-7777

May 24, 2007

Main Phone Number:

(714) 247-6000

Determination Date:

May 18, 2007

https://www.tss.db.com/invr

Page 1 of 26

IndyMac INDX Mortgage Loan Trust 2007-FLX1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
May 25, 2007 Distribution

Certificate Payment Report
Current Period Distribution - REMIC III
			Prior						Current
			Prior

	Class	Original	Principal			Total	Realized	Deferred	Principal

Class	Type	Face Value	Balance	Interest	Principal	Distribution	Loss	Interest	Balance
			(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)
A-1	SR	155,024,000.00	147,119,233.80	664,488.54	3,384,287.66	4,048,776.20	0.00	0.00	143,734,946.14
A-1	SR	155,024,000.00	147,119,233.80	664,488.54	3,384,287.66	4,048,776.20	0.00	0.00	143,734,946.14
A-2	SR	76,199,000.00	76,199,000.00	349,245.42	0.00	349,245.42	0.00	0.00	76,199,000.00
A-3	SR	96,890,000.00	96,890,000.00	449,731.08	0.00	449,731.08	0.00	0.00	96,890,000.00
A-4	SR	10,766,000.00	10,766,000.00	50,151.62	0.00	50,151.62	0.00	0.00	10,766,000.00
A-5	SR	37,654,000.00	36,775,674.50	171,006.89	376,039.74	547,046.63	0.00	0.00	36,399,634.76
M-1	MEZ	4,812,000.00	4,811,999.99	22,776.80	0.00	22,776.80	0.00	0.00	4,811,999.99
M-2	MEZ	4,812,000.00	4,812,000.00	22,857.00	0.00	22,857.00	0.00	0.00	4,812,000.00
M-3	MEZ	2,005,000.00	2,005,000.00	9,557.17	0.00	9,557.17	0.00	0.00	2,005,000.00
M-4	MEZ	2,005,000.00	2,005,000.00	9,657.42	0.00	9,657.42	0.00	0.00	2,005,000.00
M-5	MEZ	2,005,000.00	2,005,000.00	9,841.21	0.00	9,841.21	0.00	0.00	2,005,000.00
M-6	MEZ	2,005,000.00	2,005,000.00	10,726.75	0.00	10,726.75	0.00	0.00	2,005,000.00
M-7	MEZ	2,005,000.00	2,005,000.00	10,977.38	0.00	10,977.38	0.00	0.00	2,005,000.00
M-8	MEZ	2,807,000.00	2,807,000.00	15,368.32	0.00	15,368.32	0.00	0.00	2,807,000.00
R	RES/SR	100.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RC	RES/SR	100.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RX	RES/SR	100.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
C	NOF	2,005,105.03	2,004,972.03	477,930.78	0.00	477,930.78	0.00	0.00	2,004,972.03

Total		400,994,405.03	392,210,880.32	2,274,316.38	3,760,327.40	6,034,643.78	0.00	0.00	388,450,552.92
Total




Interest Accrual Detail Current Period Factor Information per $1,000 of Original Face Value
					Orig. Principal	Prior				Current
					Orig. Principal	Prior				Current
	Period	Period			(with Notional)	Principal			Total	Principal
Class	Starting	Ending	Method	Cusip	Balance	Balance	Interest	Principal	Distribution	Balance
			Method
					(1)	(1)	(2)	(3)	(4)=(2)+(3)	(5)

A-1	04/25/07	05/24/07	A-Act/360	45668WAA5	155,024,000.00	949.009404	4.286359	21.830734	26.117093	927.178670
A-1	04/25/07	05/24/07	A-Act/360	45668WAA5	155,024,000.00	949.009404	4.286359	21.830734	26.117093	927.178670
A-2	04/25/07	05/24/07	A-Act/360	45668WAB3	76,199,000.00	1,000.000000	4.583333	0.000000	4.583333	1,000.000000
A-3	04/25/07	05/24/07	A-Act/360	45668WAC1	96,890,000.00	1,000.000000	4.641667	0.000000	4.641667	1,000.000000
A-4	04/25/07	05/24/07	A-Act/360	45668WAD9	10,766,000.00	1,000.000000	4.658334	0.000000	4.658334	1,000.000000
A-5	04/25/07	05/24/07	A-Act/360	45668WAE7	37,654,000.00	976.673780	4.541533	9.986714	14.528247	966.687065
M-1	04/25/07	05/24/07	A-Act/360	45668WAJ6	4,812,000.00	999.999998	4.733333	0.000000	4.733333	999.999998
M-2	04/25/07	05/24/07	A-Act/360	45668WAK3	4,812,000.00	1,000.000000	4.750000	0.000000	4.750000	1,000.000000
M-3	04/25/07	05/24/07	A-Act/360	45668WAL1	2,005,000.00	1,000.000000	4.766668	0.000000	4.766668	1,000.000000
M-4	04/25/07	05/24/07	A-Act/360	45668WAM9	2,005,000.00	1,000.000000	4.816668	0.000000	4.816668	1,000.000000
M-5	04/25/07	05/24/07	A-Act/360	45668WAN7	2,005,000.00	1,000.000000	4.908334	0.000000	4.908334	1,000.000000
M-6	04/25/07	05/24/07	A-Act/360	45668WAP2	2,005,000.00	1,000.000000	5.350000	0.000000	5.350000	1,000.000000
M-7	04/25/07	05/24/07	A-Act/360	45668WAQ0	2,005,000.00	1,000.000000	5.475002	0.000000	5.475002	1,000.000000
M-8	04/25/07	05/24/07	A-Act/360	45668WAR8	2,807,000.00	1,000.000000	5.474998	0.000000	5.474998	1,000.000000
R		45668WAF4	100.00	0.000000	0.000000	0.000000	0.000000	0.000000
RC		45668WAG2	100.00	0.000000	0.000000	0.000000	0.000000	0.000000
RX		45668WAH0	100.00	0.000000	0.000000	0.000000	0.000000	0.000000
C		45668WAS6	2,005,105.03	999.933669	238.356980	0.000000	238.356980	999.933669



Page 2 of 26

IndyMac INDX Mortgage Loan Trust 2007-FLX1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
May 25, 2007 Distribution


Distribution to Date - REMIC III
									Current


	Original		Unscheduled	Scheduled	Total	Total	Realized	Deferred	Principal

Class	Face Value	Interest	Principal	Principal	Principal	Distribution	Loss	Interest	Balance
(1)	(2)	(3)	(4)	(5)=(3)+(4)	(6)=(2)+(5)	(7)	(8)	(9)=(1)-(5)-(7)+(8)
A-1	155,024,000.00	2,603,146.30	11,289,053.86	0.00	11,289,053.86	13,892,200.16	0.00	0.00	143,734,946.14
A-2	76,199,000.00	1,327,132.59	0.00	0.00	0.00	1,327,132.59	0.00	0.00	76,199,000.00
A-3	96,890,000.00	1,708,978.11	0.00	0.00	0.00	1,708,978.11	0.00	0.00	96,890,000.00
A-4	10,766,000.00	190,576.15	0.00	0.00	0.00	190,576.15	0.00	0.00	10,766,000.00
A-5	37,654,000.00	658,759.15	1,254,365.23	0.00	1,254,365.23	1,913,124.38	0.00	0.00	36,399,634.76
M-1	4,812,000.00	86,551.84	0.02	0.00	0.02	86,551.86	0.00	0.00	4,811,999.99
M-2	4,812,000.00	86,856.60	0.00	0.00	0.00	86,856.60	0.00	0.00	4,812,000.00
M-3	2,005,000.00	36,317.24	0.00	0.00	0.00	36,317.24	0.00	0.00	2,005,000.00
M-4	2,005,000.00	36,698.19	0.00	0.00	0.00	36,698.19	0.00	0.00	2,005,000.00
M-5	2,005,000.00	37,396.60	0.00	0.00	0.00	37,396.60	0.00	0.00	2,005,000.00
M-6	2,005,000.00	40,761.65	0.00	0.00	0.00	40,761.65	0.00	0.00	2,005,000.00
M-7	2,005,000.00	41,714.04	0.00	0.00	0.00	41,714.04	0.00	0.00	2,005,000.00
M-8	2,807,000.00	58,399.64	0.00	0.00	0.00	58,399.64	0.00	0.00	2,807,000.00
R	100.00	0.00	0.00	0.00	100.00	100.00	0.00	0.00	0.00
RC	100.00	0.00	0.00	0.00	100.00	100.00	0.00	0.00	0.00
RX	100.00	0.00	0.00	0.00	100.00	100.00	0.00	0.00	0.00
C	2,005,105.03	2,055,520.59	0.00	0.00	133.00	2,055,653.59	0.00	0.00	2,004,972.03


Total	400,994,405.03	8,968,808.69	12,543,419.11	0.00	12,543,852.11	21,512,660.80	0.00	0.00	388,450,552.92


Interest Detail - REMIC III
	Pass	Prior Principal		Non-	Prior	Unscheduled		Paid or	Current
	Pass	Prior Principal		Non-	Prior	Unscheduled		Paid or

	Through	(with Notional)	Accrued	Supported	Unpaid	Interest	Optimal	Deferred	Unpaid

Class	Rate	Balance	Interest	Interest SF	Interest	Adjustment	Interest	Interest	Interest
			(1)	(2)	(3)	(4)	(5)=(1)-(2)+(3)+(4)	(6)	(7)=(5)-(6)
A-1	5.42000%	147,119,233.80	664,488.54	0.00	0.00	0.00	664,488.54	664,488.54	0.00
A-2	5.50000%	76,199,000.00	349,245.42	0.00	0.00	0.00	349,245.42	349,245.42	0.00
A-3	5.57000%	96,890,000.00	449,731.08	0.00	0.00	0.00	449,731.08	449,731.08	0.00
A-4	5.59000%	10,766,000.00	50,151.62	0.00	0.00	0.00	50,151.62	50,151.62	0.00
A-5	5.58000%	36,775,674.50	171,006.89	0.00	0.00	0.00	171,006.89	171,006.89	0.00
M-1	5.68000%	4,811,999.99	22,776.80	0.00	0.00	0.00	22,776.80	22,776.80	0.00
M-2	5.70000%	4,812,000.00	22,857.00	0.00	0.00	0.00	22,857.00	22,857.00	0.00
M-3	5.72000%	2,005,000.00	9,557.17	0.00	0.00	0.00	9,557.17	9,557.17	0.00
M-4	5.78000%	2,005,000.00	9,657.42	0.00	0.00	0.00	9,657.42	9,657.42	0.00
M-5	5.89000%	2,005,000.00	9,841.21	0.00	0.00	0.00	9,841.21	9,841.21	0.00
M-6	6.42000%	2,005,000.00	10,726.75	0.00	0.00	0.00	10,726.75	10,726.75	0.00
M-7	6.56980%	2,005,000.00	10,977.05	0.00	0.00	0.00	10,977.05	10,977.38	0.00
M-8	6.56980%	2,807,000.00	15,367.86	0.00	0.00	0.00	15,367.86	15,368.32	0.00
R	0.00000%	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RC	0.00000%	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RX	0.00000%	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
C	286.04735%	2,004,972.03	0.00	0.00	0.00	0.00	0.00	477,930.78	0.00

Total		392,210,880.32	1,796,384.81	0.00	0.00	0.00	1,796,384.81	2,274,316.38	0.00



Page 3 of 26

IndyMac INDX Mortgage Loan Trust 2007-FLX1

Mortgage Pass-Through Certificates

May 25, 2007 Distribution

Collection Account Report

SUMMARY

Total

Principal Collections

3,760,327.40

Principal Withdrawals

0.00

Principal Other Accounts

0.00

TOTAL NET PRINCIPAL

3,760,327.40

Interest Collections

2,171,301.99

Interest Withdrawals

-0.00

Interest Fees

-24,011.91

Interest Other Accounts

127,026.30

TOTAL NET INTEREST

2,274,316.38

TOTAL AVAILABLE FUNDS FOR DISTRIBUTION

6,034,643.78

PRINCIPAL - COLLECTIONS

Total

Scheduled Principal Received

0.00

Curtailments

(598,708.85)

Prepayments In Full

4,359,036.25

Repurchased/Substitutions

0.00

Liquidations

0.00

Insurance Principal

0.00

Other Additional Principal

0.00

Delinquent Principal

-0.00

Realized Losses

-0.00

Advanced Principal

0.00

TOTAL PRINCIPAL COLLECTED

3,760,327.40

PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK

PRINCIPAL - OTHER ACCOUNTS

Total

Closing Deposit

0.00

Page 4 of 26

IndyMac INDX Mortgage Loan Trust 2007-FLX1

Mortgage Pass-Through Certificates

May 25, 2007 Distribution

INTEREST - COLLECTIONS

Total

Scheduled Interest

2,272,307.30

Repurchased/Substitution Interest

0.00

Liquidation Interest

0.00

Insurance Interest

0.00

Other Additional Interest

127,026.30

Prepayment Interest Shortfalls

-2,662.00

Delinquent Interest

-1,871,900.84

Compensating Interest

2,662.00

Civil Relief Act Shortfalls

-0.00

Interest Realized Loss

0.00

Interest Advanced

1,770,895.53

TOTAL INTEREST COLLECTED

2,171,301.99

INTEREST - WITHDRAWALS

Total

Non Recoverable Advances

0.00

Extraordinary Trust Fund Expenses

0.00

TOTAL INTEREST WITHDRAWALS

0.00

INTEREST - OTHER ACCOUNTS

Total

Prepayment Charges

61,616.15

Payments to and from the Certificate Swap Account

Swap Receipt

1,581,736.28

Swap Payment

(1,516,326.14)

Swap Termination Payment

0.00

Net Swap Receipt / ( Payment )

65,410.15

TOTAL INTEREST OTHER ACCOUNTS

127,026.30

INTEREST FEES

Total

Current Servicing Fees

21,560.59

Trustee Fees

2,451.32

TOTAL INTEREST FEES

24,011.91

Page 5 of 26

IndyMac INDX Mortgage Loan Trust 2007-FLX1

Mortgage Pass-Through Certificates

May 25, 2007 Distribution

Credit Enhancement Report

ACCOUNTS

Carryover Reserve Fund

Beginning Balance

1,000.00

Amount Deposited

0.79

Amount Withdrawn

0.79

Interest Earnings

0.00

Ending Balance

1,000.00

Swap Account

Beginning Balance

0.00

Amount Deposited

65,410.15

Amount Withdrawn

65,410.15

Interest Earnings

0.00

Ending Balance

0.00

INSURANCE

SPACE INTENTIONALLY LEFT BLANK

STRUCTURAL FEATURES

Total

Overcollateralized Amount - Prior Period

2,004,972.03

Current Period Principal Realized Losses

0.00

Overcollateralized Amount - After Current Losses

2,004,972.03

Net Monthly Excess Cashflow

350,905.27

Overcollateralization Increase Amount

0.00

Overcollateralization Release Amount

0.00

Overcollateralized Amount - Ending

2,004,972.03

Overcollateralization Deficiency Amount

0.00

Overcollateralization Excess Amount

0.00

Overcollateralization Target Amount

2,004,972.03

Page 6 of 26

IndyMac INDX Mortgage Loan Trust 2007-FLX1

Mortgage Pass-Through Certificates

May 25, 2007 Distribution

Collateral Report

COLLATERAL

Total

Loan Count:

Original

999

Prior

973

Prefunding

Scheduled Paid Offs

-0

Full Voluntary Prepayments

-10

Repurchases

-0

Liquidations

-0

Current

963

Principal Balance:

Original

400,994,405.03

Prior

392,210,880.32

Prefunding

0.00

Scheduled Principal

-0.00

Partial Prepayments

(598,708.85)

Full Voluntary Prepayments

-4,359,036.25

Repurchases

-0.00

Liquidations

-0.00

Current

388,450,552.92

PREFUNDING

SPACE INTENTIONALLY LEFT BLANK

Page 7 of 26

IndyMac INDX Mortgage Loan Trust 2007-FLX1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
May 25, 2007 Distribution


CHARACTERISTICS
CHARACTERISTICS

							Total
Weighted Average Coupon Original							6.95748%
Weighted Average Coupon Prior							6.95493%
Weighted Average Coupon Current							6.95230%
Weighted Average Months to Maturity Original							357
Weighted Average Months to Maturity Prior							355
Weighted Average Months to Maturity Current							354
Weighted Avg Remaining Amortization Term Original							357
Weighted Avg Remaining Amortization Term Prior							355
Weighted Avg Remaining Amortization Term Current							354
Weighted Average Seasoning Original							2.77
Weighted Average Seasoning Prior							4.77
Weighted Average Seasoning Current							5.76

Page 8 of 26

IndyMac INDX Mortgage Loan Trust 2007-FLX1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
May 25, 2007 Distribution


ARM CHARACTERISTICS
ARM CHARACTERISTICS

							Total
Weighted Average Margin Original							2.75652%
Weighted Average Margin Prior							2.75363%
Weighted Average Margin Current							2.75368%
Weighted Average Max Rate Original							12.04917%
Weighted Average Max Rate Prior							12.04278%
Weighted Average Max Rate Current							12.03697%
Weighted Average Min Rate Original							2.75652%
Weighted Average Min Rate Prior							2.75363%
Weighted Average Min Rate Current							2.75368%
Weighted Average Cap Up Original							2.00000%
Weighted Average Cap Up Prior							2.00000%
Weighted Average Cap Up Current							2.00000%
Weighted Average Cap Down Original							2.00000%
Weighted Average Cap Down Prior							2.00000%
Weighted Average Cap Down Current							2.00000%




SERVICING FEES & ADVANCES
SERVICING FEES & ADVANCES

							Total




Current Servicing Fees							21,560.59
Delinquent Servicing Fees							101,005.31
TOTAL SERVICING FEES							122,565.90


Total Servicing Fees							122,565.90
Compensating Interest							-2,662.00
Delinquent Servicing Fees							-101,005.31
COLLECTED SERVICING FEES							18,898.59


Total Advanced Interest							1,770,895.53
Total Advanced Principal							0.00
Aggregate Advances with respect to this Distribution							1,770,895.53
Unrecovered Advances							0.00
Non Recoverable Advance							0.00
Servicer Escrow Advances							0.00




ADDITIONAL COLLATERAL INFORMATION
ADDITIONAL COLLATERAL INFORMATION
							Total
Prepayment Interest Shortfall (PPIS)							2,662.00
Compensating Interest							(2,662.00)
Net Prepayment Interest Shortfall (PPIS)							0.00


Ending Pool Stated Principal Balance							388,450,552.92
Weighted Average Net Mortgage Rate							6.569803%





Page 9 of 26

IndyMac INDX Mortgage Loan Trust 2007-FLX1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
May 25, 2007 Distribution

Delinquency Report

TOTAL
		< 1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT	Balance		2,495,003.34	1,118,815.61	1,394,020.35	5,007,839.30
	% Balance		0.64%	0.29%	0.36%	1.29%
	# Loans		8	2	3	13
	% # Loans		0.83%	0.21%	0.31%	1.35%
FORECLOSURE	Balance	0.00	0.00	0.00	0.00	0.00
	% Balance	0.00%	0.00%	0.00%	0.00%	0.00%
	# Loans	0	0	0	0	0
	% # Loans	0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY	Balance	248,715.86	0.00	0.00	0.00	248,715.86
	% Balance	0.06%	0.00%	0.00%	0.00%	0.06%
	# Loans	1	0	0	0	1
	% # Loans	0.10%	0.00%	0.00%	0.00%	0.10%
REO	Balance	0.00	0.00	0.00	0.00	0.00
	% Balance	0.00%	0.00%	0.00%	0.00%	0.00%
	# Loans	0	0	0	0	0
	% # Loans	0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL	Balance	248,715.86	2,495,003.34	1,118,815.61	1,394,020.35	5,256,555.16
	% Balance	0.06%	0.64%	0.29%	0.36%	1.35%
	# Loans	1	8	2	3	14
	% # Loans	0.10%	0.83%	0.21%	0.31%	1.45%

Page 10 of 26

IndyMac INDX Mortgage Loan Trust 2007-FLX1

Mortgage Pass-Through Certificates

May 25, 2007 Distribution

REO Report

Loan Number

Original

Stated

Current

State &

First

Principal

Paid to

Note

LTV at

Original

Payment

Loan Group

Balance

Date

Rate

Origination

Term

Date

Page 11 of 26

IndyMac INDX Mortgage Loan Trust 2007-FLX1

Mortgage Pass-Through Certificates

May 25, 2007 Distribution

Foreclosure Report

Loan Number

Original

Stated

Current

State &

First

Principal

Paid to

Note

LTV at

Original

Payment

Loan Group

Balance

Date

Rate

Origination

Term

Date

Page 12 of 26

IndyMac INDX Mortgage Loan Trust 2007-FLX1

Mortgage Pass-Through Certificates

May 25, 2007 Distribution

Prepayment Report

VOLUNTARY PREPAYMENTS

Total

Current

Number of Paid in Full Loans

Number of Repurchased Loans

Total Number of Loans Prepaid in Full

Curtailments Amount

(598,708.85)

Paid in Full Balance

4,359,036.25

Repurchased Loans Balance

0.00

Total Prepayment Amount

3,760,327.40

Cumulative

Number of Paid in Full Loans

Number of Repurchased Loans

Total Number of Loans Prepaid in Full

Paid in Full Balance

14,064,118.91

Repurchased Loans Balance

649,587.40

Curtailments Amount

(2,169,854.20)

Total Prepayment Amount

12,543,852.11

Page 13 of 26

IndyMac INDX Mortgage Loan Trust 2007-FLX1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
May 25, 2007 Distribution


VOLUNTARY PREPAYMENTS RATES - Including Liquidated Balances



		Total





SMM	0.96%
3 Months Avg SMM	0.92%
12 Months Avg SMM	0.79%
Avg SMM Since Cut-off	0.79%



CPR	10.92%
3 Months Avg CPR	10.46%
12 Months Avg CPR	9.09%
Avg CPR Since Cut-off	9.09%



PSA	947.12%
3 Months Avg PSA Approximation	1,097.22%
12 Months Avg PSA Approximation	1,065.22%
Avg PSA Since Cut-off Approximation	1,065.22%


(*) SMM, CPR, PSA Figures Include Liquidated Balances

Page 14 of 26

IndyMac INDX Mortgage Loan Trust 2007-FLX1

Mortgage Pass-Through Certificates

May 25, 2007 Distribution

PREPAYMENT CALCULATION METHODOLOGY - Including Liquidated Balances

Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases + Liquidated Balances)/(Beg Principal Balance - Sched Principal)

Conditional Prepayment Rate (CPR): 1-((1-SMM)^12)

PSA Standard Prepayment Model: CPR/(0.20%*min(30,WAS))

Average SMM over period between nth month and mth month (AvgSMMn,m): 1 - [(1-SMMn)*(1-SMMn+1)*...*(1-SMMm)]^(1/months in period n,m)

Average CPR over period between the nth month and mth month (AvgCPRn,m): 1-((1-AvgSMMn,m)^12)

Average PSA Approximation over period between the nth month and mth month: AvgCPRn,m/(0.20%*Avg WASn,m))

Average WASn,m: (min(30,WASn)+min(30,WASn+1)+...+min(30,WASm)/(number of months in the period n,m)

Weighted Average Seasoning (WAS)

Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments and repurchases.

Dates correspond to distribution dates.

Page 15 of 26

IndyMac INDX Mortgage Loan Trust 2007-FLX1

Mortgage Pass-Through Certificates

May 25, 2007 Distribution

VOLUNTARY PREPAYMENTS RATES - Excluding Liquidated Balances

Total

SMM

0.96%

3 Months Avg SMM

0.92%

12 Months Avg SMM

0.79%

Avg SMM Since Cut-off

0.79%

CPR

10.92%

3 Months Avg CPR

10.46%

12 Months Avg CPR

9.09%

Avg CPR Since Cut-off

9.09%

PSA

947.12%

3 Months Avg PSA Approximation

1,097.22%

12 Months Avg PSA Approximation

1,065.22%

Avg PSA Since Cut-off Approximation

1,065.22%

(*) SMM, CPR, PSA Figures Exclude Liquidated Balances

Page 16 of 26

IndyMac INDX Mortgage Loan Trust 2007-FLX1

Mortgage Pass-Through Certificates

May 25, 2007 Distribution

PREPAYMENT CALCULATION METHODOLOGY - Excluding Liquidated Balances

Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases)/(Beg Principal Balance - Sched Principal)

Conditional Prepayment Rate (CPR): 1-((1-SMM)^12)

PSA Standard Prepayment Model: CPR/(0.20%*min(30,WAS))

Average SMM over period between nth month and mth month (AvgSMMn,m): 1 - [(1-SMMn)*(1-SMMn+1)*...*(1-SMMm)]^(1/months in period n,m)

Average CPR over period between the nth month and mth month (AvgCPRn,m): 1-((1-AvgSMMn,m)^12)

Average PSA Approximation over period between the nth month and mth month: AvgCPRn,m/(0.20%*Avg WASn,m))

Average WASn,m: (min(30,WASn)+min(30,WASn+1)+...+min(30,WASm)/(number of months in the period n,m)

Weighted Average Seasoning (WAS)

Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments and repurchases.

Dates correspond to distribution dates.

Page 17 of 26

IndyMac INDX Mortgage Loan Trust 2007-FLX1

Mortgage Pass-Through Certificates

May 25, 2007 Distribution

Prepayment Detail Report

Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution

Loan Number

Original

Current

State &

Type Prepayment

First

Loan

Principal

Prepayment

Note

LTV at

Payment

Loan Group

Status

Balance

Amount

Date

Rate

Origination

Original Term

Date

124278201 1

472,000.00

475,901.66

17-Apr-2007

6.625%

CA - 80.00%

Paid Off - 360

01-Nov-2006

124359618 1

1,000,000.00

1,014,161.82

02-May-2007

7.750%

CO - 76.34%

Paid Off - 360

01-Dec-2006

124377100 1

315,403.00

318,821.04

11-May-2007

7.375%

WA - 80.00%

Paid Off - 360

01-Dec-2006

124396724 1

950,000.00

960,020.44

07-May-2007

6.750%

CA - 63.33%

Paid Off - 360

01-Nov-2006

124434326 1

425,000.00

429,168.03

20-Apr-2007

6.500%

CA - 35.71%

Paid Off - 360

01-Dec-2006

124585692 1

160,000.00

161,511.38

23-Apr-2007

7.750%

NM - 80.00%

Paid Off - 360

01-Dec-2006

124612190 1

192,000.00

194,100.41

08-May-2007

7.750%

IL - 80.00%

Paid Off - 360

01-Dec-2006

124703576 1

162,000.00

163,597.55

17-Apr-2007

7.250%

CA - 39.51%

Paid Off - 360

01-Dec-2006

124840115 1

389,000.00

389,644.36

10-May-2007

7.375%

NJ - 74.81%

Paid Off - 360

01-Jan-2007

124892995 1

250,000.00

252,109.56

09-May-2007

7.000%

CA - 64.94%

Paid Off - 360

01-Jan-2007

TOTAL

4,315,403.00

4,359,036.25

Page 18 of 26

IndyMac INDX Mortgage Loan Trust 2007-FLX1

Mortgage Pass-Through Certificates

May 25, 2007 Distribution

Realized Loss Report

COLLATERAL REALIZED LOSSES

Total

Current

Number of Loans Liquidated

Collateral Principal Realized Loss/(Gain) Amount

0.00

Collateral Interest Realized Loss/(Gain) Amount

0.00

Net Liquidation Proceeds

0.00

Cumulative

Number of Loans Liquidated

Collateral Realized Loss/(Gain) Amount

0.00

Net Liquidation Proceeds

0.00

Page 19 of 26

IndyMac INDX Mortgage Loan Trust 2007-FLX1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
May 25, 2007 Distribution


DEFAULT SPEEDS
DEFAULT SPEEDS
								Total




MDR								0.00%
3 Months Avg MDR								0.00%
12 Months Avg MDR								0.00%
Avg MDR Since Cut-off								0.00%


CDR								0.00%
3 Months Avg CDR								0.00%
12 Months Avg CDR								0.00%
Avg CDR Since Cut-off								0.00%


SDA								0.00%
3 Months Avg SDA Approximation								0.00%
12 Months Avg SDA Approximation								0.00%
Avg SDA Since Cut-off Approximation								0.00%


Principal Only Loss Severity Approx for Current Period								0.00%
3 Months Avg Loss Severity Approximation								0.00%
12 Months Avg Loss Severity Approximation								0.00%
Avg Loss Severity Approximation Since Cut-Off								0.00%


Principal & Interest Loss Severity Approx for Current Period								0.00%
3 Months Avg Loss Severity Approximation								0.00%
12 Months Avg Loss Severity Approximation								0.00%
Avg Loss Severity Approximation Since Cut-Off								0.00%

Page 20 of 26

IndyMac INDX Mortgage Loan Trust 2007-FLX1

Mortgage Pass-Through Certificates

May 25, 2007 Distribution

COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY

Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated Loans)/(Total Beg Principal Balance)

Conditional Default Rate (CDR): 1-((1-MDR)^12)

SDA Standard Default Assumption: CDR/IF(WAS<61,MIN(30,WAS)*0.02%,MAX(0.03%,MIN(30,WAS)*0.02%-0.0095%*(WAS-60)))

Average MDR over period between nth month and mth month (AvgMDRn,m): [(1-MDRn)*(1-MDRn+1)*...*(1-MDRm)]^(1/months in period n,m)

Average CDR over period between the nth month and mth month (AvgCDRn,m): 1-((1-AvgMDRn,m)^12)

Average SDA Approximation over period between the nth month and mth month:

AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)*0.02%,MAX(0.03%,MIN(30,Avg WASn,m)*0.02%-0.0095%*(Avg WASn,m-60)))

Average WASn,m: (WASn + WASn+1 +...+ WASm )/(number of months in the period n,m)

Principal Only Loss Severity Approximation for current period:

Sum(Principal Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)

Principal & Interest Loss Severity Approximation for current period:

Sum(Principal & Interest Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)

Average Loss Severity Approximation over period between nth month and mth month:

Sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans for months in the period n,m

Note: Default rates are calculated since deal issue date and include realized gains and additional realized losses and gains from prior periods.

Dates correspond to distribution dates.

All Realized Losses in excess of Principal Balance are treated as Interest Realized Losses.

Page 21 of 26

IndyMac INDX Mortgage Loan Trust 2007-FLX1

Mortgage Pass-Through Certificates

May 25, 2007 Distribution

Realized Loss Detail Report

Loan Number

Current

State &

Prior

Realized

Cumulative

Loan

Note

LTV at

Original

Principal

Loss/(Gain)

Realized

Loan Group

Status

Rate

Origination

Term

Balance

Revision

Loss/(Gain)

TOTAL

Page 22 of 26

IndyMac INDX Mortgage Loan Trust 2007-FLX1

Mortgage Pass-Through Certificates

May 25, 2007 Distribution

Triggers and Adj. Cert. Report

TRIGGER EVENTS

Total

Stepdown Date has occurred

Optional Termination Date

Does an Event of Default Exist

Does a Sequential Trigger Event Exist

Does a Swap Trigger Event Exist

Trigger Event Exist (Delq Trig= Y or Loss Trig= Y)

Delinquency Trigger

Does Delinquency Trigger Event Exist (a > b)

(a) Rolling Three Month 60+ Delq Rate

0.5415%

(i) Current Month 60+ Delq Rate

0.7109%

(ii) One Month Prior 60+ Delq Rate

0.4588%

(iii) Two Month Prior 60+ Delq Rate

0.4549%

(b) 40% of Senior Enhancement Percentage Threshold

2.0039%

Senior Enhancement Percentage

5.0098%

Cumulative Loss Trigger

Does a Loss Trigger Event Exist (a > b)

(a) Cumulative Loss Percentage (i / ii)

0.0000%

(b) Cumulative Loss Trigger Percentage Threshold

100.0000%

(i) Cumulative Realized Loss

0.00

(ii) Cutoff Date Principal Balance

400,994,405.03

ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK

ADDITIONAL INFORMATION

Total

Current LIBOR Rate

5.320000%

Libor Rate Determination Date

04/23/2007

Next LIBOR Rate

5.320000%

Next Libor Rate Determination Date

05/23/2007

Swap Libor For Current Period

5.320000%

Swap Rate Determination Date

04/23/2007

Page 23 of 26

IndyMac INDX Mortgage Loan Trust 2007-FLX1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
May 25, 2007 Distribution

Additional Certificate Report

ADDITIONAL CERTIFICATE REPORT

		Int on Prior SF (2)	Curr NET WAC SF (3)	Total NET WAC SF (1+2+3)	NET WAC Shortfall Paid	NET WAC Shortfall UnPaid	Next Pass Through Rate


CLASS
	A-1	$0.00	$0.00	$0.00	$0.00	$0.00	5.42000%
	A-2	$0.00	$0.00	$0.00	$0.00	$0.00	5.50000%
	A-3	$0.00	$0.00	$0.00	$0.00	$0.00	5.57000%
	A-4	$0.00	$0.00	$0.00	$0.00	$0.00	5.59000%
	A-5	$0.00	$0.00	$0.00	$0.00	$0.00	5.58000%
	M-1	$0.00	$0.00	$0.00	$0.00	$0.00	5.68000%
	M-2	$0.00	$0.00	$0.00	$0.00	$0.00	5.70000%
	M-3	$0.00	$0.00	$0.00	$0.00	$0.00	5.72000%
	M-4	$0.00	$0.00	$0.00	$0.00	$0.00	5.78000%
	M-5	$0.00	$0.00	$0.00	$0.00	$0.00	5.89000%
	M-6	$0.00	$0.00	$0.00	$0.00	$0.00	6.42000%
	M-7	$0.00	$0.33	$0.33	$0.33	$0.00	6.57000%
	M-8	$0.00	$0.46	$0.46	$0.46	$0.00	6.57000%
	R	$0.00	$0.00	$0.00	$0.00	$0.00	0.00000%
	RC	$0.00	$0.00	$0.00	$0.00	$0.00	0.00000%
	RX	$0.00	$0.00	$0.00	$0.00	$0.00	0.00000%
	C	$0.00	$0.00	$0.00	$0.00	$0.00	0.00000%




Page 24 of 26

IndyMac INDX Mortgage Loan Trust 2007-FLX1

Mortgage Pass-Through Certificates

May 25, 2007 Distribution

ADDITIONAL CERTIFICATE REPORT

NET WAC Shortfall Prior (1)

CLASS

A-1

$0.00

A-2

$0.00

A-3

$0.00

A-4

$0.00

A-5

$0.00

M-1

$0.00

M-2

$0.00

M-3

$0.00

M-4

$0.00

M-5

$0.00

M-6

$0.00

M-7

$0.00

M-8

$0.00

Page 25 of 26

IndyMac INDX Mortgage Loan Trust 2007-FLX1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
May 25, 2007 Distribution

Other Related Information
ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
							Total
Current Scheduled Payments							2,272,307.30
Current Scheduled Payments 1 Month Prior							2,298,012.44
Current Scheduled Payments 2 Month Prior							2,315,068.51
Current Scheduled Payments 3 Month Prior							2,324,925.53
Current Scheduled Payments 4 Month Prior							0.00
Current Scheduled Payments 5 Month Prior							0.00
Current Scheduled Payments 6 Month Prior							0.00
Current Scheduled Payments 7 Month Prior							0.00
Current Scheduled Payments 8 Month Prior							0.00
Current Scheduled Payments 9 Month Prior							0.00
Current Scheduled Payments 10 Month Prior							0.00
Current Scheduled Payments 11 Month Prior							0.00





Sched. Payments for 60+Day Delinquent Loans							16,828.18
Sched. Pmts - 60+Day Delinquent Loans, 1 Month Prior							11,293.29
Sched. Pmts - 60+Day Delinquent Loans, 2 Month Prior							11,523.55
Sched. Pmts - 60+Day Delinquent Loans, 3 Month Prior							3,834.21
Sched. Pmts - 60+Day Delinquent Loans, 4 Month Prior							0.00
Sched. Pmts - 60+Day Delinquent Loans, 5 Month Prior							0.00
Sched. Pmts - 60+Day Delinquent Loans, 6 Month Prior							0.00
Sched. Pmts - 60+Day Delinquent Loans, 7 Month Prior							0.00
Sched. Pmts - 60+Day Delinquent Loans, 8 Month Prior							0.00
Sched. Pmts - 60+Day Delinquent Loans, 9 Month Prior							0.00
Sched. Pmts - 60+Day Delinquent Loans, 10 Month Prior							0.00
Sched. Pmts - 60+Day Delinquent Loans, 11 Month Prior							0.00





Page 26 of 26

IndyMac INDX Mortgage Loan Trust 2007-FLX1 10-D