OneWest rises from IndyMac's ashes

It's been a year since a group of investors including billionaire George Soros and computer company founder Michael Dell agreed to buy IndyMac for what would be nearly $14 billion. Full Story
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uhhh

Compton, CA

#1 Dec 19, 2009
now that they have enough money to make such acquisitions, they should start paying back the people who lost money when IndyMac failed, no?
Frontals

Ontario, CA

#3 Dec 19, 2009
I seriously doubt there will be any significant increases in loans. The qualifications will still remain very high. The money will be as tight as ever. Additionally, the other thing that will remain high will be the CEO's salary, no doubt commensorate with the competitors who we all bailed-out with our tax money.
This news is about as exciting as the new Norelco razor.

Since: Apr 09

Location hidden

#5 Dec 20, 2009
One West is Feeding us a bunch of B.S.! One West isn't out there trying to help customer with there Loan Mods! There taking there home!
One West recieved Billions of dollars from the Feds to take over IndyMac with the promise from One West to help customers with there Home Loan Mods, and yet there are thousands of story on how One West lied to there customers and Forclosed on them!
One West is nothing more Lying B A S T A R D!
shooter

West Covina, CA

#6 Dec 20, 2009
All bankers are crooks and thieves. They will steal and take your money. Never trust and do business with them.
zzo

Corona, CA

#7 Dec 20, 2009
shooter wrote:
All bankers are crooks and thieves. They will steal and take your money. Never trust and do business with them.
I agree. Everybody needs to stop paying their mortgage. We need to kill this corrupt banking system once and for all.
Twitter 211Guy

Monrovia, CA

#8 Dec 20, 2009
shooter wrote:
All bankers are crooks and thieves. They will steal and take your money. Never trust and do business with them.
BUT,It's refreshing to see OneWest expand, it has always had a reputation for providing top-of-line pro-active security measures to protect customers and employees from bank robbers; Access Control Doors, armed professional security officers etc. and even flies the American Flag in front of all their banks. It's ironic that the Major bank south on 1st. Av. is downgrading pro-active security as cost saver and giving away a cookie and 6oz cup of coffee instead.
jay

United States

#9 Dec 20, 2009
They Still are unworthy of my banking services.
Jumping Jim

Altadena, CA

#10 Dec 20, 2009
Screw that new bank, they should be paying back depositors who lost money with the old IndyMac bank.

I would like to go there some night, and throw a couple of dozen eggs at that place.
low

Duarte, CA

#11 Dec 20, 2009
shooter wrote:
All bankers are crooks and thieves. They will steal and take your money. Never trust and do business with them.
That right that why we Chiness kept our money under the mattres it lot safer than keep in the bank.
Jumping Jim

Pleasanton, CA

#12 Dec 20, 2009
low wrote:
<quoted text>
That right that why we Chiness kept our money under the mattres it lot safer than keep in the bank.
Just be careful, other Chinese don't find out, come and take it.
mortgagebubble07

Homestead, FL

#15 Dec 21, 2009
Great mod guide at www.modifyingmadeeasy.com
Only 19.95, it really helped me understand the process. I recommend to all going through this process. Best of Luck!!
FYI

California City, CA

#16 Dec 21, 2009
mortgagebubble07 wrote:
Great mod guide at www.modifyingmadeeasy.com
Only 19.95, it really helped me understand the process. I recommend to all going through this process. Best of Luck!!
Spam..assistance is free http://portal.hud.gov/portal/page/portal/HUD/...
Russell777

Hialeah, FL

#19 Dec 24, 2009
I am bringing this to your attention to let you know what is happening at Indy Mac/One west Bank. On April 20, 2009 I submit documents for consideration for a loan modification and was advice that the process would take up to 60 days for review.
I started to call to follow up with Indy Mac/One west Bank on June 11, 2009 and spoke Michelle and the phone call drape. I tried again and I got Monica who transfers over to Cindy who advises me that the entire document was received and the file is being reviewed and I should try to make a payment. I call on June 30, 2009 and spoke with Elizabeth 96Q who also advise me that the file is still in review and they will get in touch once a decision has been made. I call back on July 13, 2009 and spoke with Yari CH6 who told that the file is still been reviewed. I call on July 28, 2009 and spoke with Sofia 73T also told me the file is still been reviewed. I call on August 18, 2009 and spoke with Patrice O95 who advise me that a letter was sent out in April asking for the financial which I told her that it was sent with the original documents and I have been following and the file and no one had ever told that document was needed, infect I was told that everything is in the file. She advises me to up date it and send it in again. I did so and call back on August 25, 2009 and spoke with Sara that I refax all the documents included the bank statement of pay check and tax returns, I was also advise that since you don’t have pay stud I should send a profit and loss statement which was done. I call back on the August 27, 2009 and spoke with Keisha 74P who told me that all the documents was received included the profit and loss statement, we went over the financial statement and was advise that because there is a rental income for it to be counted as income they will need to see copy of the lease, I told her I will have it by Monday. I call on August 31 after I fax the rental agreement and spoke with Alicia JI4087 and was told that the file will be reviewed and it would take 24 to 48 hours for the lease to be in their system. I call on September 1, 2009 to follow up if the lease is in the system and I spoke with a Todd 842 who advise me that the investor stop doing modification on these loan, I ask him when did this occur and I was told since April, I ask why didn’t any one told me this when I call on may occasion and he could give me an answer. I ask about what the FDIC stated and I was told it is up to the investor, I ask about the president program and I was told the investors is not doing any modification.
I loss my job on December 22, 2009 and I was bless to find a job in March and exhaust my saving paying property tax and property insurance and was trying to get caught up and was having it hard so I apply for a modification and was lead to believe that everything is fine only to find out it is not.
Please help me, I do not want to lost my home I am doing my best. I was told by Todd 842 at Indy Mac/One west I could to do a short sale that is one of my option. I have also spoke with a Mr. Michael Bekes and he told me because of the investors the loan is pool with the Onewest bank they are not doing any modification and the only thing they can offer is a short sale, which do not make any sense. I do not want to sell my home, please help I don’t know what to do next.

Since: Apr 09

Location hidden

#20 Dec 26, 2009
Russell777 wrote:
I am bringing this to your attention to let you know what is happening at Indy Mac/One west Bank. On April 20, 2009 I submit documents for consideration for a loan modification and was advice that the process would take up to 60 days for review.
I started to call to follow up with Indy Mac/One west Bank on June 11, 2009 and spoke Michelle and the phone call drape. I tried again and I got Monica who transfers over to Cindy who advises me that the entire document was received and the file is being reviewed and I should try to make a payment. I call on June 30, 2009 and spoke with Elizabeth 96Q who also advise me that the file is still in review and they will get in touch once a decision has been made. I call back on July 13, 2009 and spoke with Yari CH6 who told that the file is still been reviewed. I call on July 28, 2009 and spoke with Sofia 73T also told me the file is still been reviewed. I call on August 18, 2009 and spoke with Patrice O95 who advise me that a letter was sent out in April asking for the financial which I told her that it was sent with the original documents and I have been following and the file and no one had ever told that document was needed, infect I was told that everything is in the file. She advises me to up date it and send it in again. I did so and call back on August 25, 2009 and spoke with Sara that I refax all the documents included the bank statement of pay check and tax returns, I was also advise that since you don’t have pay stud I should send a profit and loss statement which was done. I call back on the August 27, 2009 and spoke with Keisha 74P who told me that all the documents was received included the profit and loss statement, we went over the financial statement and was advise that because there is a rental income for it to be counted as income they will need to see copy of the lease, I told her I will have it by Monday. I call on August 31 after I fax the rental agreement and spoke with Alicia JI4087 and was told that the file will be reviewed and it would take 24 to 48 hours for the lease to be in their system. I call on September 1, 2009 to follow up if the lease is in the system and I spoke with a Todd 842 who advise me that the investor stop doing modification on these loan, I ask him when did this occur and I was told since April, I ask why didn’t any one told me this when I call on may occasion and he could give me an answer. I ask about what the FDIC stated and I was told it is up to the investor, I ask about the president program and I was told the investors is not doing any modification.
I loss my job on December 22, 2009 and I was bless to find a job in March and exhaust my saving paying property tax and property insurance and was trying to get caught up and was having it hard so I apply for a modification and was lead to believe that everything is fine only to find out it is not.
Please help me, I do not want to lost my home I am doing my best. I was told by Todd 842 at Indy Mac/One west I could to do a short sale that is one of my option. I have also spoke with a Mr. Michael Bekes and he told me because of the investors the loan is pool with the Onewest bank they are not doing any modification and the only thing they can offer is a short sale, which do not make any sense. I do not want to sell my home, please help I don’t know what to do next.
Its time everyone involed with One West bank startes writing the President! One West took over Indymac, Tell the Federal Goverment they would do everything they could on Home Loan Modification!

Since: Jan 09

Location hidden

#22 Dec 26, 2009
Russell777 wrote:
I am bringing this to your attention to let you know what is happening at Indy Mac/One west Bank. On April 20, 2009 I submit documents for consideration for a loan modification and was advice that the process would take up to 60 days for review.
I started to call to follow up with Indy Mac/One west Bank on June 11, 2009 and spoke Michelle and the phone call drape. I tried again and I got Monica who transfers over to Cindy who advises me that the entire document was received and the file is being reviewed and I should try to make a payment. I call on June 30, 2009 and spoke with Elizabeth 96Q who also advise me that the file is still in review and they will get in touch once a decision has been made. I call back on July 13, 2009 and spoke with Yari CH6 who told that the file is still been reviewed. I call on July 28, 2009 and spoke with Sofia 73T also told me the file is still been reviewed. I call on August 18, 2009 and spoke with Patrice O95 who advise me that a letter was sent out in April asking for the financial which I told her that it was sent with the original documents and I have been following and the file and no one had ever told that document was needed, infect I was told that everything is in the file. She advises me to up date it and send it in again. I did so and call back on August 25, 2009 and spoke with Sara that I refax all the documents included the bank statement of pay check and tax returns, I was also advise that since you don’t have pay stud I should send a profit and loss statement which was done. I call back on the August 27, 2009 and spoke with Keisha 74P who told me that all the documents was received included the profit and loss statement, we went over the financial statement and was advise that because there is a rental income for it to be counted as income they will need to see copy of the lease, I told her I will have it by Monday. I call on August 31 after I fax the rental agreement and spoke with Alicia JI4087 and was told that the file will be reviewed and it would take 24 to 48 hours for the lease to be in their system. I call on September 1, 2009 to follow up if the lease is in the system and I spoke with a Todd 842 who advise me that the investor stop doing modification on these loan, I ask him when did this occur and I was told since April, I ask why didn’t any one told me this when I call on may occasion and he could give me an answer. I ask about what the FDIC stated and I was told it is up to the investor, I ask about the president program and I was told the investors is not doing any modification.
I loss my job on December 22, 2009 and I was bless to find a job in March and exhaust my saving paying property tax and property insurance and was trying to get caught up and was having it hard so I apply for a modification and was lead to believe that everything is fine only to find out it is not.
Please help me, I do not want to lost my home I am doing my best. I was told by Todd 842 at Indy Mac/One west I could to do a short sale that is one of my option. I have also spoke with a Mr. Michael Bekes and he told me because of the investors the loan is pool with the Onewest bank they are not doing any modification and the only thing they can offer is a short sale, which do not make any sense. I do not want to sell my home, please help I don’t know what to do next.
The loan modification process is very frustrating. Contact HUD direct, FYI posted the link above, they will assist you. Word of advice do not pay up front fees to any "loan modification" solicitors. Regardless of who they claim to be or credentials they may have. Good luck.
Lorax

Miami, FL

#24 Dec 26, 2009
Russell, I'm here in Miami as well, and I, too thought about going through this process last April without an attorney.

I hired one later in the year, and stopped paying the mortgage, though continue to pay the maintenance on the condo.

I was told many months ago that Indymac was NOT modifying ANY loans, which is the case, as you now know, but you had your hopes up that they would actually be a professional organization, mandated by the Obama Administration to modify loans, and they lied.

My attorney advises to stop paying, don't answer the mindless robocalls which amount to about 10 per day, six days a week, and hire an attorney.

They will think twice about messing with you if you have representation.

They have been allowed by the feds to complicate the so-called modification process, since there is NO federal oversight with this program. The details of what is required, how the process works is totally up to the bank. The fox in charge of the henhouse scenario.

I know you don't want to lose your home, no one here does, but the fact of the matter, is when One West was formed on the carcass of Indymac Bank, it was opened by a group of super-rich hedge fund guys, like Michael Dell, Michael Thane, and George Soros- all billionaires. These are the "investors" they are telling you about.

They have no interest in modifying loans, since they stand to make more by forcing you out.

Your loan, as mine, was bought last year for 50 cents on the dollar. Plus they have an insurance policy on your loan with the FDIC to the tune of 70 percent of the appraised value of your home.

They don't lose. They are hoping you default so they can take your property. Period.

They stand to gain more by selling your home. Chances are if it's sold for less than half of it's appraised value, they still make a tidy profit.

GET AN ATTORNEY!

It's worth hiring a capable real estate attorney to navigate this river of crap they have created for everyone. And don't consider a short sale either.

Short sales are designed to benefit the banks. They will sue you in Florida for the difference between what the property sells for and what you owe. Don't fall for it.

My attorney's advice is to save your money, don't fall for any backpayment schemes or "fees" associated with Indymac. They are crooks. They will, and are being sued in class action suits right now.

I would also suggest a forensic audit of your loan by a capable attorney/accountant to surmise whether or not your loan was predatory.

Indymac will have to prove they hold the paper, and haven't sold it off in pieces as a CDO (collateralized debt obligation) which is nothing more than turning your loan into coleslaw and serving it to dozens of other investors, making money for Indymac, and screwing you.

Russell, hang tight, and realize that trying to talk with anyone at Indymac is a futile effort. Hire an attorney, and let them take it from there.
Jayne Briseno

Palm Desert, CA

#26 Feb 8, 2010
E-mail (hundreds) to the following:
Felicia.washington@owb.com Default manager, escalation dept.
JK.Huey@owb.com Vice President consumer loans
(don't get me started on this one
John.Olinski@owb.com V.P. OneWest bank appointed
by the crooks(in my opinion) at the FDIC
Terry.Laughlin@owb.com
(may be Terrance.Laughlin@owb.com (the so called President)

Demand a "Stop" be placed on your loan(loans)
In otherwords, a suspended state of for investigation
of the violations on your loan i.e. Interest
yield spread, false documents'
verbal contractural promises by the employees
at(formerly IndyMac Bank) transitioning to
OneWest Bank.

Keep in mind that yes, you can sue the Officers
of any bank AND their emploees as any
promise(and all bank calls are recorded and can be supboened in court for testimony and declaration
in depositions of all of the crooks in the
banking entities committing fraud... as to the continued
"bait and switch of the demand for MORE documents as most of you distressed homeowners begging for Loan modification
or Loss Mitigation are experiencing, when employees from OneWest bank or ANY bank Mortgage
entity promises that they will modify your
loan and then reverses their earlier verbal agreement whether by phone or e-mail correspondence
THEY ARE IN VIOLATION AS A VERBAL COMMITTMENT
IS KNOWN AS A"CONTRACT IN MEMORANDUM" AND WILL
STAND IN A COURT OF LAW.
good luck and keep me posted
Lorax

Miami, FL

#27 Feb 8, 2010
Jayne Briseno wrote:
E-mail (hundreds) to the following:
Felicia.washington@owb.com Default manager, escalation dept.
JK.Huey@owb.com Vice President consumer loans
(don't get me started on this one
John.Olinski@owb.com V.P. OneWest bank appointed
by the crooks(in my opinion) at the FDIC
Terry.Laughlin@owb.com
(may be Terrance.Laughlin@owb.com (the so called President)
Demand a "Stop" be placed on your loan(loans)
In otherwords, a suspended state of for investigation
of the violations on your loan i.e. Interest
yield spread, false documents'
verbal contractural promises by the employees
at(formerly IndyMac Bank) transitioning to
OneWest Bank.
Keep in mind that yes, you can sue the Officers
of any bank AND their emploees as any
promise(and all bank calls are recorded and can be supboened in court for testimony and declaration
in depositions of all of the crooks in the
banking entities committing fraud... as to the continued
"bait and switch of the demand for MORE documents as most of you distressed homeowners begging for Loan modification
or Loss Mitigation are experiencing, when employees from OneWest bank or ANY bank Mortgage
entity promises that they will modify your
loan and then reverses their earlier verbal agreement whether by phone or e-mail correspondence
THEY ARE IN VIOLATION AS A VERBAL COMMITTMENT
IS KNOWN AS A"CONTRACT IN MEMORANDUM" AND WILL
STAND IN A COURT OF LAW.
good luck and keep me posted
Hi Jane, thanks for the advice- most who think they will get a modification probably won't, and most don't have the funds to hire an attorney to do so.

My attorney will ask for Indymac to produce the original loan docs to see if there are any discrepancies between mine and theirs.

A forensic audit of everyone's loan is also a good idea, since most were fradulent to begin with, whether on behalf of the bank's loan officer or mortgage broker, or both.

I haven't gone for a mod, since they aren't being done, and I don't want the frustration or the condo at this point- need to move on.

Those who are clinging to the hope that one will materialize are in for a surprise.

If people have access to an attorney, I say use it to your advantage to buy as much time in your property as possible before moving, and do it on your own terms.

These banks have insurance policies on your loans, courtesy of the FDIC, will cash them in when you default, and will get the property- so they win any way you cut it.

Madd Matt

Bethlehem, PA

#28 Apr 23, 2010
My attorney has advised me that, although dealing with IndyMac is basically fruitless, there is a growing success with getting IMB to delete the entire history of your loan from your credit report. The down side is for those that have a limited credit history, especially a limited mortgage history, as you can still loose points for not having the loan history. Chances are, the loss for not having IMB on your credit report is less than the loss for having it. I, for one, say good riddance, and I hope they go broke and loose their houses and billions in ill-gotten gains!
walid

Los Angeles, CA

#29 Apr 24, 2010
lest file a class action against Indymac bank and onewest bank

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