Indy Mac Bank service was good

First I want to offer my sincere condolences for those who lost money at Indy Mac Bank. I too in the past (not w/ IndyMac) lost cash ($40,000) and it does suck. Just want to rely a positive experience regarding retrieving a cd from IndyMac bank. I never failed to get a rep on the phone even the Monday following the shutdown. All reps were professional, had info about my account, and helped me. I got my cd wired to me in 9 business days. They are processing HUGE amounts of requests they did well. I am not affiliated with this bank.
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#129544 Review #129544 is a subjective opinion of poster.
Rock Hill, South Carolina
New Reviewer

Non disclosure act 18+ violations & Foreclosure

Indy Mac and QFMC Chicago,2908W. Peterson Did not disclose 18+ violations, IndyMac had a year to remove it from my credit report history. They Breeched contract, broke the laws and they are inforcing the Broken Laws with more for the dishonest MTG and Realtor Mascan, then for the victim of Preditory Lender, who has sold a false bill of goods KNOWINGLY, which caused too much damages to list, Do Not Do Buisness With Any Of the above listed, they are *** and they have never held accountible the proper parties involved, Only persued to do more damages with intent, Now a Bigger Criminal, the us government has control.
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#129483 Review #129483 is a subjective opinion of poster.
Chicago, Illinois
New Reviewer

Almost made me loose my home!!!!

IndyMac Bank is the worst bank known to man!It all started on oct,2006.They we're to put my mother and my fiance on the mortgage and didn't.They just put my mom on it. Then they told him that he can refinance in a year with them.Wrong!We have tried they said they don't know why someone in their company would tell us that.We have our loan escrowed.That means nothing! They don't pay my taxes!I had to fight them to pay my taxes with the money that they have of mine for my taxes.Then they tried to tell me thats its my responsablilaty to send them the tax info so they can pay it.Nope i called my tax collectors they send it to IndyMac to pay their self.So i don't have to! They tried to argue that with me,saying that i need to send it! lol!!! The tax people were sending me delinquit info on my property and house.They were having a lein put on it.Once again IndyMac's fault!! Now i am two months behind on my mortgage.Because they told me not to pay till after July 2. So i can get a mortgage adjustment.Ha!! Now i am stuck for getting a mortgage with someone else. By the way their mail room has brainless workers in it!!!!! They never get their mail that you send to them.They also have broken fax machines because they never can get a fax.No matter how many times you send it , they never get it!! So the point is the screwed me for now!!!!
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#129363 Review #129363 is a subjective opinion of poster.
Pittsburgh, Pennsylvania
New Reviewer

Re: IndyMac and Scottrade

I also have a CD with IndyMac through Scottrade. It came due 7/24/08, but I have not received my money. When I called my local Scottrade office, the mgr. told me it would take four to eight weeks to get my money. No other explanation. His only words of advice were that I should go on the Internet and read up on the situation. So...I'm reading...and I don't like what I see! Is this a scam of the highest order? What about the interest that is being lost here? Does anyone have any suggestions on how to get the money back quicker? anyone?
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Which is why I don't have money at Scottrade. I work there and see what happens every day I've also had the chance to see what kind of @$$hole the CEO, Roger Riney is.

My money and and hopefully my employment will be elsewhere soon. I've never been this ashamed of my employer in the many years within this industry.


Had Schumer and the FDIC kept their belatedly, bungling noses out of things, we'd have our money. No consolation but you're not alone.

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#129351 Review #129351 is a subjective opinion of poster.
Waukegan, Illinois

Indymac Bank refuses to wire out matured CD

These guys are liars. Each time I call, they put a different, i.e. longer, time frame on getting this wire done. They are very effective, however, in stonewalling all of the questions. The time spent on hold sets new records for being messed up. The so-called supervisor to whom I spoke was unaware that I was speaking of a wire. They use the word "flagged" to signify that the account has been earmarked for something - perhaps additional stonewalling. Must be the same crew that drove the bank into the ditch in the first place. These people are awful and need to be shown the door along with the top management.
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1 comment

I had 2 cds with Indy Mac Bank. I requested the money on 7/15. The money for the larger cd was in my account by COB 7/25. I am confident my other smaller cd will be transfered in a reasonable amount of time.

I was always able to get thru to someone on the phone who was able to give me what turned out to be an accurate update on the progress of teh wire. The reps were outstanding in my opinion. Keep in mind thie lives are also in a tailspin and the people you are speaking to you didn't cause this crisis.

I am not affiliated w/ the bank. I live in South Carolina.

#129294 Review #129294 is a subjective opinion of poster.
Austin, Texas

CD Through Brokerage Acc not funded yet

I bougt a CD through my scottrade account and was due on Friday, but my broker called me and informed me that the fdic was not releasing the money until further notice. I am wondering why this is, and if it means that the fdic is in more trouble that they tell us. I have a hard time with this, I'm not made out of money, and it seemed like investing in a cd would be a pretty safe bet, but now I have to wait for answers. It seems that the government always acts when the damage is already done.
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#129270 Review #129270 is a subjective opinion of poster.
East Brunswick, New Jersey
New Reviewer

Indymac, difficult to contact, almost lost our home, still problematic

We have gone for over a year without a statement from Indymac. Have e-mailed, called, they hardly care to contact us. We continue to get answering machines. After making payment arrangements to get caught up when we were a couple months behind, they sent our check back saying it was not enough to cover payments. It was exactly what was requested. When my husband called, he was sent from one person to another, given different ammounts to pay. At one point, he was quoted over 8000.00!!! (our payments are only 464 a month) he said there was no way. The lady went through explaining all that was included and mentioned "court costs". He told her we had never been to court!! We ended up refusing to make payments until we got a statement. Next thing we new we were heading to court to avoid going into forclosure. They set us up with a preforclosure program where we had no choice but to try to pay over 1400$ a month to keep our home. Eventually we managed to get a mortgage modification and pay just over 600 a month for payments with everything they managed to tack on (we still don't know - and do not know where any funds went that we have sent them in the past year). We signed the modification in June, still had no statement so that we could send our payment. We sent it to the adress on the modification contract. A couple days ago I was glad to finally see a statement in the mail, the first one in over a year! I opened it up and what do ya know, it was another mess. our August payment is over $9000.00. I have been in so many circles with these people in the past year and haven't even told the half of it. Our story really sounds unbeleivable. At one point when someone set up a payment plan for us we were waiting for papers to be faxed, hadn't received them and called about them. We were told that "Calvin" didn't have the authority to set up the plan for us and now Dennis would be working with us. I have nuemerous copies of e-mails that Dennis never replied to, each of them asking....begging for statements. At one point when I did get him on the phone, he said to me "you never asked me for a statement" I am so glad I saved my e-mails!!! We are planning to submit a complaint with the Atty. Gen. and hopefully will get some satisfaction. I have never in my life delt with or heard of such incompetence.
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Actually Fedup, the law may surprise you.

Are you a lawyer? If you are, site specific reference to law where this is the case. If not, please refrain form making blanket statements.

This matter has to go to court for the laws to be fully explored. Many details of the situation has to be laid out before making a call.

S. Willis,I would reccommend you get a consumer advocate attorney to review your case.


Listen, I can understand being frustrated with not getting a statement, however that does not mean that you don't have to make your payments.

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#129167 Review #129167 is a subjective opinion of poster.
Freeport, Illinois

Indymac Bank

Indymac's loan servicing is being done by a off shore company (india). India thru imaging does the posting of payment and the analysis of the escows. For some reason their computer system and the one in Kalamazoo, mi does not interface and causes much confusion. This is causing serious problems with borrows accounts. Borrowers monthy payments are not being posted causing late payment notices being sent out and escrow account not being analysised correctly. borrowed pleased keep a record of all of your tranactions (cancelled checks) you may need it one day. They do not know what they are doing. I know because I worked for Indymac until 7/18/08.
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#128928 Review #128928 is a subjective opinion of poster.
Trenton, New Jersey

Constant Harrasment on loans 12 days late

With the economy we all are faced with this institution constantly has been hasseling me for a late payment, when they don't pay there debt on time. When refunding for escrow account overpayment they on 3 occasions sent the wrong amount, who does there record keeping? I like all of you fill the hands of the oil companies sliding into my pocket dailey for my commute to work, and even though I have called loan resolution, and customer service to inform them of the payments status the next day they call 3-4 times, I hate to see the economy hit the wall like this but enjoyed the news about them crashing.
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#128857 Review #128857 is a subjective opinion of poster.
Mcdonough, Georgia
New Reviewer

Indymac Bank addendum to withdrawl without permission

I finally received a check reimbursing me for the wrongful with drawl that I spoke of earlier. But to further complain the check was not the correct amount, it did not include any of the over draw fees that I was told that it did, and it was not sent overnight. It was sent next day air. There is a difference. Overnight I believe you receive by 9:00 am the next day. I received this check at 5:37PM Thursday. To late for anything and the check will not clear my bank until next week. Yes I am ticked off.
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#128844 Review #128844 is a subjective opinion of poster.
Tampa, Florida
New Reviewer

Indymac Bank withdrew funds without my permission.

Indymac bank withdrew funds after they had canceled the with drawl, assuring me that it would be taken out of my bank account. This happened on Monday. After giving the proof that the bank honored their with drawl, the agreed to reimburse me the over $900 with drawl and pay any fees that I incurred. They also stated that they would overnight the check. This was Tuesday. Today is Thursday 4:41pm and I have still not received the check which won't clear my bank until next week even if I do get it yet today. Indymac has put me in a very bad bind with other causing me $132 in over draft fees, and keeping me at a negative balance, making it impossible have monies to pay other bills, having to borrow money to put gas in my tank to go to work and so worth.
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#128830 Review #128830 is a subjective opinion of poster.
Tampa, Florida
New Reviewer

IndyMac Bank Mortgage foreclosed on my home through lies!

IndyMac Mortgage purchased my loan from another company. After about a year into my "3 year -fixed" adjustable rate loan, my rate adjusted. 3 months later, it adjusted again. As I put the house on the market, I was told I had to pay $300 just to find out if they would accept a short sale and then it could take weeks to find out. My buyer was eager to purchase a home and refused to deal with IndyMac and their crazy terms therefore, I lost the sale and ultimately the home. Before walking away, I again received another notice from them saying my rate was to adjust again. To this day, I still cannot figure out how a 3 year fixed rate on an ARM can adjust 3 times in 1 year. Put me in for any law suits that come up...they are getting what they deserve from the Feds. Also, my home has now been vandalized as they have yet to secure it since the foreclosure. It's been 7 months already. Glad to see them loose in the end.
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1 comment

Just a question, you're glad to see them LOSE it not LOOSE it, right?

Just checking :grin

#128691 Review #128691 is a subjective opinion of poster.
Arlington, Virginia
New Reviewer

INDYMAC lied to me about FDIC insurance

When i open my second account at IMB i was told several times by bank employee that my CD and my joint account was both insured up 200k each. it's my opinion that bank managers and their personnel deliberately engaged in fraud. To my knowledge FDIC is not investigating this issue.. they could at least pull the tape of the conversation between the customer and bank personnel and verify what was said to whom. That would resolve many complaints. Fraud has and is being imposed upon the 10k consumers that were riped off by IMB. I've found that some FDIC examiners are not as knowledgeable they should be about what consumers can expect. i.e. future pay out, etc.
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United States of America DELL Indymac Will Buying A Dell Help Fund Your Neighbors Foreclosure? Internet







Employee Respond to this report!

What's This?Are you an owner, employee or ex-employee with either negative or positive information about the company or individual, or can you provide "insider information" on this company?

Victim of this person/company?

What's This?Are you also a victim of the same company or individual? Want Justice? File a Rip-off Report, help other consumers to be educated and don't let them get away with it!



United States of America


Web Address:

Category: Loan Modification

Submitted: Thursday, November 05, 2009

Posted: Thursday, November 05, 2009

Will the Dell you buy for Christmas help fund your neighbors foreclosure?

"Dude You're Getting A Dell" could have a whole new meaning. It could mean another process server has dropped the foreclosure bombshell on another American Family suffering from the subprime mortgage crisis and a lousy economy.

That's right!!!

Michael Dell has joined forces with a few of the 21st Centuries newest Robber Barrons.

MSD Capital, L.P. is part of the partnership formed to purchase Indymac from the FDIC.

The new company is IMD Management Holdings and they are running One West Bank

which is among the worst performing lenders

/servicers when it comes to offering

distressed borrowers assistance.

Calls to Dunes Capital and IMB Management Holdings are ignored as the new corporate

philosophy of throw the deadbeats into the streets and tell them to go scratch has permeated the entire company.

Managers who under the supervision of Sheila Baird and the FDIC use to help borrowers with a true empathy now dish out the lies of their corporate masters. Customer service representatives now tow the company line and Deny, Deny, Deny is the new corporate motto.

In lawsuits, complaints and interviews, borrowers contend that Indymac (Now One West Bank) denied loan modifications because borrowers failed to submit unimportant paperwork; because Indymac phone log notes did not detail discussions correctly or at all; because paperwork sent had mysteriously disappeared and as such was deemed "never submitted", borrowers have been told routinely that "their investor doesn't allow modifications", borrowers have had "phony modifications" sent that were actually just a sleazy attempt at collecting arrears never intended to be really honored by the company and much, much more.

As I follow the exploits of borrowers who are unfortunate enough to have one of the Indymac Alt-A loans that were able to close within days of application because of lax underwriting guidelines and the knowledge that they could sell the "toxic paper" off their books before anyone would know the debt couldn't be repaid, I am reminded of the Francis Ford Coppola Movie "The Rainmaker".

Todays One West Bank follows the lead of the movies Great Benefit Insurance Company whose first, second and third courses of action are to deny a claim, hoping the people will give up or die. In one scene an insurance company employee reads a letter written to an insured "Dear Mrs. Black, On seven prior occasions this company has denied your claims in writing. We now deny it for the eighth and final time. You must be ***, ***, ***."

I have seen letters to Indymac borrowers along the same lines, their newest tactic is a letter that explains how complicated it is for the "***, ***, *** borrower" to understand who the "investor" in their loan is.

These tactics are apparently very good for mortgage company profits.

How a man like Michael Dell whose philanthropic efforts are to be commended could be dragged into investing with the kind of creatures who would treat people this way is beyond me.

But it certainly begs the question, does the phrase "Dude You're Getting A Dell" now mean the same thing as "You've Been Served A Foreclosure Notice"?

Does Michael Dell actually subscribe to the philosophy of the Robber Barrons who deny, deny, deny in the hopes that suffering families will give up or die?

Come tell us your Indymac Horror Stories at:




I guess the rule is, 'everyone lies' and if you don't act accordingly, you'll lose your savings.

I was also told that my CD would be fully insured because it was an ITF account. Now the FDIC's attitude is, you should have known regardless of what the bank told you.

I just lost $30,000. I guess I was raised to trust that a bank would not lie.

The FDIC told me to write or call the Attorney General's office in CA.

Also to make a complaint to the Office of Thrift Supervision. Does anyone else have any ideas about who to contact and what we can do?


When I opened my second CD account at Indymac I was lied to by Indymac Bank employees regarding FDIC insurance. I added two benificiaries on my account as was told I was insured up to my full dollar amount of my deposit.

FDIC however said that one of my beneficiaries on my account was not "qualified" under FDIC. Something needs to be done.



Never give a bank more than 100,000 of your money. It is posted clearly on the signs at every window.

It doesn't matter what somebody told you.

Bottom line is, FDIC only insures up to 100,000 per account. Not sure if that is per person too or not but...

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#128506 Review #128506 is a subjective opinion of poster.
Cincinnati, Ohio

Call indymac - indybank executives directly now!

call indymac - indybank executives directly now! let the executives know how you really feel about them today! UPDATED 7/18/08: new indymac and indybank executives are JOHN BOVENZI, F.D.I.C. appointed indybank CEO, and RICK HOFFMAN, F.D.I.C. appointed indybank President. the executive offices phone numbers are: 626-535-****, or 626-535-****, or 626-535-****. if all else fails, try 626-535-****. there are no guarantees, very difficult to get correct phone number in a less than transparent takeover by the F.D.I.C.. GOOD LUCK!!
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1 comment

called but given another number to call. left messege.

#128081 Review #128081 is a subjective opinion of poster.
Los Angeles, California

Mortgage loan, i was taken

The home loan given to me, by Indy Mac ripped my family. The truth and lending came, then the day of the signing, which i was against the wall to sign because of my commitments, was changed.Wow, it cost alot for the closing, and my rate is something i can not handle. Why do banks do this to people. It is all a game. They know what they are doing and us individuals who are struggling to pay our homes and have a life is being ripped by interest rates, closing cost. When is the goverment going to look at what was done here. When are we the people going to say enough is enough..Take the life out of hard working individuals..
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Some may say it is our own fault, but it is not. We did not invent preditory lending they did.

We try to pay what they ask for, but how can you when they add these absobadent fees whenever they feel like it. Nobody is asking for a handout just a hand. And until you have walked a mile in someone elses shoes you cant make a judgement call. You dont know what happened.

they both could lost their sources of income. That one day could be you


I am so sick of people complaining about how they got ripped off with their mortgage!!! If you don't know about mortgages and lack the responsibility to do your homework before you sign up for buying a house, you get what you deserve!!

This is the biggest purchase of your life and you blindly go into a loan closing and sign papers that you haven't read!?

All of the documents you sign specifically say what they are and what they do. If you don't read or have your documents explained to you before you sign, you are an irresponsible borrower.

Being in the mortgage industry for as many years as I have, being on the servicing side as well as the origination side, I firmly believe that the blame lies with the uninformed borrower.

Banks don't do this to people. Irresponsible, uninformed borrowers do this to themselves.


Once again people, this is your life....probably the biggest purchase you will ever make...You signed the contracts and agreed to the terms.


I had a similar experience; fine, barely legible print said "the terms and conditions of this loan may change at any time," and I got stuck with a $30,000 pre-pay I never agreed to. And, Indymac even funded this loan after I did my best to rescind it. :(

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#128035 Review #128035 is a subjective opinion of poster.
Reston, Virginia