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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934
                               (Amendment No. 1 )*

                         INDYMAC MORTGAGE HOLDINGS, INC.
                                (Name of Issuer)

                                     COMMON
                         (Title of Class of Securities)

                                                    44977L 100
                                 (CUSIP Number)

                                December 31, 1999
             (Date of Event Which Requires Filing of this Statement)


Check the  appropriate box to designate the rule pursuant to which this Schedule
is filed:

                                                     Rule 13d-1(b)
                                                     Rule 13d-1(c)
                                                     Rule 13d-1(d)

*The  remainder of this cover page shall be filled out for a reporting  person's
initial  filing on this form with respect to the subject class of securities and
for any  subsequent  amendment  containing  information  which  would  alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the  Securities  Exchange  Act of
1934 ("Act") or otherwise  subject to the liabilities of that section of the Act
but shall be subject to all  another  provisions  of the Act  (however,  see the
Notes).


                              CUSIP NO. 44977L 100

 -------------------------------------------------------------------------------

1.       NAMES OF REPORTING PERSONS
         S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS

         COUNTRYWIDE CREDIT INDUSTRIES, INC.
         I.R.S. No.  13-264-1992
- --------------------------------------------------------------------------------

2.       CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
           (a)
           (b)

         N/A
- --------------------------------------------------------------------------------

- --------------------------------------------------------------------------------

3.       SEC USE ONLY
- --------------------------------------------------------------------------------

4.       CITIZENSHIP OR PLACE OF ORGANIZATION

         DELAWARE
- --------------------------------------------------------------------------------

NUMBER OF                  5.       SOLE VOTING POWER

SHARES                     3,640,500 Shares

BENEFICIALLY               6.       SHARED VOTING POWER

OWNED BY                   0

EACH                       7.       SOLE DISPOSITIVE POWER

REPORTING                           3,640,500 Shares

PERSON            8.       SHARED DISPOSITIVE POWER

WITH                                0


9.       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         3,640,500 Shares


10.      CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
         (SEE INSTRUCTIONS)



11.      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         4.5%
- --------------------------------------------------------------------------------

12.      TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

         CO
- --------------------------------------------------------------------------------


                            (continued on next page)





Item 1(a).    Name of Issuer

              IndyMac Mortgage Holdings, Inc.

Item 1(b).    Address of Issuer's Principal Executive Office

              155 North Lake Avenue
              Pasadena, California 91101.

Item 2(a).    Name of Person Filing

              Countrywide Credit Industries, Inc.

Item 2(b).    Address of Principal Business Office or, if None, Residence

              4500 Park Granada
              Calabasas, California 91302

Item 2(c).    Citizenship

              Delaware

Item 2(d).    Title of Class of Securities

              Common

Item 2(e)     CUSIP No.

              44977L 100

Item          3 If this statement is filed pursuant to Section  240.13d-1(b)  or
              240.13d-2(b) or (c), check whether the person filing is a:

(a) Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o);
(b) Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c) Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d) Investment company registered under section 8 of the Investment Company Act
    of 1940 (15 U.S.C. 80a-8);
(e) An investment advisor in accordance with Section
240.13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment
fund in accordance with Section
240.13d-1(b)(1)(ii)(F);
(g) A parent holding company or control person in accordance with Section
240.13d-1(b)(1)(ii)(G);
(h) A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813);
(i) A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the
Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j) Group, in accordance with @240.13d-1(b)(1)(ii)(J).

If this statement is filed pursuant to @240.13d-1(c), check this
box.





Item 4.       Ownership

              (a) Amount beneficially owned:

                  3,640,500 Shares

              (b) Percent of class:

                  4.5%

              (c) Number of shares as to which the person has:

                  (i) Sole power to vote or to direct the vote:

                      3,640,500

                  (ii)Shared power to vote or to direct the vote:

                      0

                  (iii) Sole power to dispose or to direct the disposition of:

                      3,640,500

                  (iv)Shared power to dispose or to direct the disposition of:

                      0

Item 5.       Ownership of Five Percent or Less of a Class

              If this statement is being filed to report the fact that as of the
              date hereof the reporting  person has ceased to be the  beneficial
              owner of more than 5 percent of the class of securities, check the
              following .

Item 6.       Ownership of More than 5 Percent on Behalf of Another Person

              NOT APPLICABLE.

Item 7.       Identification and Classification of the Subsidiary Which Acquired
              the Security Being Reported on
              By the Parent Holding Company

              NOT APPLICABLE.

Item 8.       Identification and Classification of Members of the Group

              NOT APPLICABLE.

Item 9.       Notice of Dissolution of Group

              NOT APPLICABLE.





Item 10.      Certification

              By signing  below I certify  that, to the best of my knowledge and
              belief, the securities referred to above were not acquired and are
              not held for the  purpose  of or with the  effect of  changing  or
              influencing  the control of the issuer of the  securities and were
              not  acquired  and  are  not  held  in  connection  with  or  as a
              participant in any transaction having that purpose or effect.


After  reasonable  inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.


COUNTRYWIDE CREDIT INDUSTRIES, INC.


By: /s/ Sandor E. Samuels
Name: Sandor E. Samuels
Title: Managing Director, Legal and General Counsel
Dated: February 7, 2000