Class-action lawsuit is latest woe for IndyMac

IndyMac Bancorp Inc.'s troubles have gone from bad to worse. The Pasadena-based bank - already battered by fallout from the subprime meltdown, mounting home foreclosures and tightened credit standards - is now ... Full Story
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JLS

AOL

#1 Jun 17, 2008
Maybe if Indymac would work with it's customers in foreclosure they wouldn't be in such bad shape right now.
Joe

United States

#2 Jun 24, 2008
They deserve what they are getting now, they are bunch of thugs. I hope that they will also face some serious jail time
David

United States

#3 Jul 15, 2008
Where's the class action for the depositors, particularly those who had more than 100K on deposit and are now going to take it in the shorts, thanks to the mismanagement of the fools running this outfit?

“ No Moe Mr Nice Guy”

Since: Jul 08

Bellflower, CA

#4 Jul 15, 2008
Where's Moe ?
indymacdepositor s

Redondo Beach, CA

#5 Jan 9, 2009
David wrote:
Where's the class action for the depositors, particularly those who had more than 100K on deposit and are now going to take it in the shorts, thanks to the mismanagement of the fools running this outfit?
David, I don't know about the a law suit, but contact indymacdepositors.com .
indymacdepositor s

Redondo Beach, CA

#6 Jan 9, 2009
David, I don't know about the a law suit, but contact indymacdepositors.com .
Cheryl Hodgson

United States

#7 Feb 28, 2009
IndyMac, the FDIC and the Office of Thrift Supervision are all a bunch of crooks. They committed fraud, plain and simple. The depositors shouldn't have to pay for their crimes. The depositors ask for their money back and justice needs to be served! contact Indymacdepositors.com
Frank S

United States

#8 Mar 20, 2009
Cheryl Hodgson wrote:
IndyMac, the FDIC and the Office of Thrift Supervision are all a bunch of crooks. They committed fraud, plain and simple. The depositors shouldn't have to pay for their crimes. The depositors ask for their money back and justice needs to be served! contact Indymacdepositors.com
Dude, you dont know the half of it. These guys paid out huge bonuses and retention pay to their top guys all approved by the FDIC. All the while loosing over 10 billion of tax payer money while they tried to run that business. FDIC chair must be removed immediately.
Cheryl McHale

Arroyo Grande, CA

#9 Apr 3, 2009
Indymac sold our note and when we tried to find out why our payment was going up they would not answer any questions our even work with us requiring us to hire first a mitigation co, and when they could make no progress we hired an attorney who also could make no progress with Indymac. We have tried for 5 1/2 months to work with them and they continued to stall us while proceeding to forclose on our home which we built ourselves and desperetly want to keep! Today we find out that they have sold our home and our family of 7 will have lost everything we have worked our whole lives for. All because of a GREEDY Bank that would never work with us.
Worth

Virginia Beach, VA

#10 Apr 9, 2009
David wrote:
Where's the class action for the depositors, particularly those who had more than 100K on deposit and are now going to take it in the shorts, thanks to the mismanagement of the fools running this outfit?
Did you ever get an answer to this question? Is there a suit involving depositors? If so, I'd like to join it.

Worth
Fred

Los Angeles, CA

#11 May 4, 2009
Is there any active class action lawsuit for the depositors with funds that are uninsured by the fdic over $100,000?
della

United States

#12 May 18, 2009
David wrote:
Where's the class action for the depositors, particularly those who had more than 100K on deposit and are now going to take it in the shorts, thanks to the mismanagement of the fools running this outfit?
have you found any law firms that have filed a class action suit for the depositors, who were not protected by the fdic, against indy mac
della

United States

#13 May 18, 2009
Worth wrote:
<quoted text>
Did you ever get an answer to this question? Is there a suit involving depositors? If so, I'd like to join it.
Worth
if there is such a class action lawsuit please advise me so i can join. thanks
MJN

Los Angeles, CA

#15 Sep 29, 2009
Did you get denied modification and have your home sold?
JLS wrote:
Maybe if Indymac would work with it's customers in foreclosure they wouldn't be in such bad shape right now.
tdevlin

Rancho Cordova, CA

#16 Oct 2, 2009
I HAD GOOD CREDIT MADE MY PAYMENTS ON TIME THEY WOULD NOT DO A LOAN MODIFICATION.THEY ARE NOTHING BUT GREEDY CROOKS.I AM A SINGLE WIDOWED MOTHER .THEY FORECLOSED ON OUR HOME .I THINK THEY SHOULD BE PUNISHED FOR BAD LOANS.
Kay Mint

Hialeah, FL

#17 Nov 15, 2009
IndyMac Bank is forcing foreclosure. They returned my loan payment saying it was not paid by cashier check even though it was paid through my bill pay system and is in effect cash. They are foreclosing without proper notices. I guess the government will continue to reward them for their evil deeds!
Lisa R

Marysville, WA

#18 Nov 23, 2009
In November 2007, we began calling IMB to negotiate our ARM that was scheduled to adjust in March 2008. After getting no where with IMB, we dedcided we could not keep our home with an increased 1000k per month. In April we were contacted by IMB to refinance our loan. We were thrilled! Finally some assistance, so we thought. We began a forebearance program in May and continued into June and July. Each month, I called each week to check the status of our loan. Each time, I was told "it was being processed". I would ask questions like where is it or with whom, etc. Basically the answer was always. "Its being reviewed". At the end of July I was told that the program we were being considered for had changed and that we would have to start a different plan that should be much easier and offer better terms! Throughout that negotiation, I continued to call on our loan application...then the FDIC takeover occurred. I contacted IMB and was told that now we needed to do yet a third plan that was a federal plan and all other plans we were in before no longer applied. So we continued making "forbearance" payments (by the way the payments were for the same amount as we wee paying prior to the adjusted rate...clearly, we were proving we could pay). At the end of December 2008, we finally recieved a packet in the mail. Of course, nothing in this packet contained terms or payments that were agreed upon throughout this process. The same day, I called IMB to discuss my packet and my confusion about the terms. At that time, I was told that my mod was denied...with no explanation except that they had the right to deny a loan at any time for any reason. They told us the only option we had was to reinstate the loan and pay all penalties, etc. This was unrealistic and we could not comply. In April 2009, we received yet another package. We filled it out, sent it in and began working with people all over again. I asked about forbearance and they said they were not taking payments any longer but that we qualified for a new mod and would process. In July I received a request for "additional" paperwork. I sent in a new package again and then in September my husband had to take a new job that paid much less money. I contacted IMB to ask if I could submit proof of new employment. They told me to wait until her received his new paystub. I explained that it would be a month out and they said it would take that long anyway. In Sept I sent the new stub with a letter to the person who told me to fax it in. In the beginning of November, I received another letter asking us to submit our most recent pay stubs so they could complete our modification. This was done. Ten days later, I received a Deed of Trustee sale on my front door. My house is scheduled for sale on December 8, 2009. We called IMB to get some explanation. They said our packet as incomplete (Im thinking which one of the 5?) and that we broked forebearance payments (which we did not and can prove it). Now just before Christmas, I have no where to go and a short time to relocate my family. I have hired a brokder to try to negotitate a stop sale, but am fearing that they do not actualy want to help. I really hope this stops. It should be illegal, what these crooks are doing!
Elizabeth

Santa Ana, CA

#19 Nov 30, 2009
MJN wrote:
Did you get denied modification and have your home sold?
<quoted text>
My house was foreclusure I would like to file a lawsuit against Indymac Bank some body has to stop these people.
GED

Santa Monica, CA

#20 Dec 2, 2009
I have been trying to modify my loan myself since last May. I have also been given delayed tactics at their call center and the runaround bull shit like they lost my paperwork. I even interviewed with a HUD counselor. I have printed the "new packet" that's 19 pages and mailed them that with all the required evidence of my eminent financial problems with an unemployed husband and vacant rentals at back of property. First, I didn't have "enough income"...duh!! Recently,(even though my husband is not on title, nor a burrower,) when he was earning again, they said I had a surplus. This pressure is messing up my marriage! My toxic Fannie Mae loan was given to me by another bank agent when it was clear I had never earned more than $18,000-/year and immediately sold to IndyMac. Anyway, I'm going to US Loan Auditors to have a forensic audit and then sue the bastards...they definitely deserve to fail!! I've played by the rules and they definitely don't care about their customers.
Lori in California

Manteca, CA

#21 Dec 3, 2009
The same thing happened to us!! However I'm hear to tell you our sale date was 10/6/2009 and we are still in our house and being told as long as we don't move out we have a a fighting chance!! So as hard as it is ( I know, I have 2 small children too) enjoy your holiday and follow up after. I'm looking to sue after they were judged againest in NV. I kinda feel for once I might have a chance to keep my house?!?!
Lisa R wrote:
In November 2007, we began calling IMB to negotiate our ARM that was scheduled to adjust in March 2008. After getting no where with IMB, we dedcided we could not keep our home with an increased 1000k per month. In April we were contacted by IMB to refinance our loan. We were thrilled! Finally some assistance, so we thought. We began a forebearance program in May and continued into June and July. Each month, I called each week to check the status of our loan. Each time, I was told "it was being processed". I would ask questions like where is it or with whom, etc. Basically the answer was always. "Its being reviewed". At the end of July I was told that the program we were being considered for had changed and that we would have to start a different plan that should be much easier and offer better terms! Throughout that negotiation, I continued to call on our loan application...then the FDIC takeover occurred. I contacted IMB and was told that now we needed to do yet a third plan that was a federal plan and all other plans we were in before no longer applied. So we continued making "forbearance" payments (by the way the payments were for the same amount as we wee paying prior to the adjusted rate...clearly, we were proving we could pay). At the end of December 2008, we finally recieved a packet in the mail. Of course, nothing in this packet contained terms or payments that were agreed upon throughout this process. The same day, I called IMB to discuss my packet and my confusion about the terms. At that time, I was told that my mod was denied...with no explanation except that they had the right to deny a loan at any time for any reason. They told us the only option we had was to reinstate the loan and pay all penalties, etc. This was unrealistic and we could not comply. In April 2009, we received yet another package. We filled it out, sent it in and began working with people all over again. I asked about forbearance and they said they were not taking payments any longer but that we qualified for a new mod and would process. In July I received a request for "additional" paperwork. I sent in a new package again and then in September my husband had to take a new job that paid much less money. I contacted IMB to ask if I could submit proof of new employment. They told me to wait until her received his new paystub. I explained that it would be a month out and they said it would take that long anyway. In Sept I sent the new stub with a letter to the person who told me to fax it in. In the beginning of November, I received another letter asking us to submit our most recent pay stubs so they could complete our modification. This was done. Ten days later, I received a Deed of Trustee sale on my front door. My house is scheduled for sale on December 8, 2009. We called IMB to get some explanation. They said our packet as incomplete (Im thinking which one of the 5?) and that we broked forebearance payments (which we did not and can prove it). Now just before Christmas, I have no where to go and a short time to relocate my family. I have hired a brokder to try to negotitate a stop sale, but am fearing that they do not actualy want to help. I really hope this stops. It should be illegal, what these crooks are doing!

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