Indymac Bank
Reviews and Complaints
Reviews Chart
$1.8M
CLAIMED LOSSES
335
TOTAL REVIEWS
26.2K
PAGE VIEWS
Totally failed to provide address of Federal bank in Pasadena
Indymacbank failed and was taken over by the OTS. Accounts were transfered. Depositors are required to get their funds from the Pasadena bank where the funds were transferred from Burbank. The very least the bank can do is provide the address where the Indymac Federal Savings Bank is located! I don't live in Pasadena and do not know the area. I don't know where the bank is. It's just like a Baby Boomer to leave out critical information as though you are afraid to give it up! How about a little consideration for the inconvenience and aggravation this is causing?
1 comment
ID
Location
Burbank, California
What to I do? wpbx
The first on my home is aprx $500,000 with Indy, the 2nd is $86 wth Select Portfolio, It's in Foreclosue now, I'm $200,000 upside down, I'm filing 13/7 BK. I would like to keep the house but.........unless there is a major change on the loan and terms I'll have to let it go. I rent out a portion of the home for $1000 per month, but even the renters now are baulking at paying the rent because they are convinced the home will be auctioned and the bank will give them next to nothing as far as time to vacate. Does Indy have a "cash for keys" program?
6 comments
ID
Location
Las Vegas, Nevada
Indymac Bank lied about my FDIC coverage
I am writing to let the general public know how corrupted the U.S banking system is. I have two cd accounts at Indymac. I was repeatedly told by Indymac employees that they are fully covered by FDIC. I even have something in writing from 7/8/2008 stating my funds were all insured. Yet, I just found out today that a significant amount of my funds were not covered. I am devasted. I worked so hard so for the money and now they are gone overnight. And the worst part about it was, I tried to add joint account holder or beneficiary to maximize my FDIC coverage just few days before they closed, but did not do so because two Indymac bank employees told me my funds were already fully insured. I want all americans to learn from my mistake and know that their money are not safe with banks. The funds may not be FDIC insured, even if their bank tells them they are. The U.S banking system is totally corrupted. Whether Indymac bank employees lied to us intentionality or they just did not understand FDIC coverage. Banks cannot be trusted! US banking system cannot be trusted!
10 comments
ID
Location
San Jose, California
Loss
$25000
Indymac Online Saving Account $96,900 Just Opened
I just opened an on line saving account last week and just wire transferred $96,900.00 to Indymac bank my account. Does anyone know how quick I can get back my money? Will I get any penalty if I close this account? I was not even able to log into my account yet as my account was not officially opend. however, I was given the account number and routing# by the clerk on the phoen so that I could transfer money in "to enjoy the interest rate early". Would I have any trouble in tracking my money? many thanks! Joyce
6 comments
ID
Location
New York, New York
Loss
$96900
Mortgage fraud by indybank executives
Berkshire financial corporation gave us a mortgage with a rate that was changed by Indymacbank. Indymacbank acquired Berkshire Financial nobody knows the circumstances including the vice-president, compliance for Indymac bank. Inspite of my written requests to obtain information about the CPA firm that signed the financials of Indymac Bank and Berkshire Financials I have had no response. To me a CPA it is becoming clear that senior executives of Indymac Bank have committed a fraud and I am surprised that in-spite of so many federal and various standards laid by AICPA, PCAOB, ISACA and so on the CPA firm that signed the financials are not being penalized. There is a lot I can write, will there be any action taken or only excuses given. The Corporate world is full of fraudulent executives, I can name some ?????
5 comments
ID
Location
Mount Holly, New Jersey
Indymac - 2 accounts totaling $194K - HELP
I have 2 accounts with Indymac with $95K each plus interest, about another $2000 each. I did this over the phone, I know I added my wife as a beneficiary. I was told to put one account in trust for my wife for FDIC coverage. I am looking at my last statement and it says it just mentions me as the account name. I'm very worried, I should have just setup a joint account but my wife wasn't home when I setup the account. I was told by the bank that I was covered. I made an appointment to discuss with the FDIC. Please help, the woman I spoke with today said only $100K is covered.
10 comments
ID
Location
Great Neck, New York
2 Accounts of $95K Each
I have 2 accounts with Indymac with $95K each plus interest, about another $2000 each. I did this over the phone, I know I added my wife as a beneficiary. I was told to put one account in trust for my wife for FDIC coverage. I am looking at my last statement and it says it just mentions me as the account name. I'm very worried, I should have just setup a joint account but my wife wasn't home when I setup the account. I was told by the bank that I was covered. I made an appointment to discuss with the FDIC. Please help, the woman I spoke with today said only $100K is covered.
2 comments
ID
Location
Great Neck, New York
IndyMac Bank is a Predator in lending
at 54, i bought first house in january 2006, at urging of people who told me "the prices are going up - buy now! so i did. cute house, overpriced, 2 loans with prepayment penalty (of which i was not pre-advised), mortgage of nearly $2200 per month. plus taxes. lost my job 3 times, and salary now than in 2006. wrote to Indymac, called all depts, emailed hthe VP. NO RESPONSE, but the CS people telling me my home is upside down, not worth what i paid, by 75k. i cannot afford to pay - i'm done. not one bit of help.
2 comments
ID
Location
Clovis, California
Indymac customer
I am the same boat like you. But according to FDIC policy our money are insured up to ( 100K X number of beneficiaries). If your CD has your name the beneficies with the tiltle LT/ITF/POD and your beneficies are Qualified persons such as spouse, children, siblings,stepchildren or adoplted children. Go to www.fdic.gov/edie. They are a online version of electronics Deposits Insurance Estimator program it can calculate out amount of insured money for you. I will bring that report to the bank tomorrow to show to cashier incase if they are not let me take out more than 100K.
3 comments
ID
Location
Los Angeles, California
Indymac bank "I saw the hurricane coming"
I was an employee of Indymac bank, I enjoyed my time their due to the benefits, flexibility, and coworkers. However, it is no surprise as to the recent news of Indymac. Poor management, making poor decisions regarding loan products. Many employee would question are not approve of certain loans but were forced to overlook and often told not to "dig too deep" and just do their jobs meaning fund loans. A majority of the management team were people in positions because of who they knew and not what they new. I can appreciate being laid off sooner now because it does not appear the remainder of the employees will receive the severance package originally issued to the employees who were released earlier between July-October 2007.
11 comments
ID
Location
Decatur, Georgia
Indymac CD over 200K
I have a cd with over 200k in it. I have 4 benes on it (family members) was told I should be ok. Sure hope to get all my money out on Monday..........I phoned customer service and they have given me conflicting information. I also recently closed another account. Did anyone else close their accounnt since June 30? If so did your cashiers check clear? I hear that maybe another problem that those cashiers checks might be returned. Any iinformation you can pass on to me or others like me would be greatly appreciated. I also will speak to a claims agent just in case.......
5 comments
ID
Location
Irvine, California
RECENT OPENED CD @INDYMAC
Just opened 2 weeks ago cd with indymac I spoke to them in details and asked if there any forseeng problems like with countrywide Indymac assured that they are perfectly fine! I believe that CEO and board should go to jail to do it to the People what SBLI's had donei n 1980s Iam from another state what would happened? when i opened i requested to mail monthly interst payment since it is onlymy additional income. I recieved Cerificate with FDIC insured stamp Since they are shut down by Feds are they gonna continiue to keep CD or return money? What do you think how long would it take? Any suggestions whow to proceed or Feds will be in touch with customers? Anu suggestions Thanks Thanks
4 comments
ID
Location
Shelburne Falls, Massachusetts
CD Renewed - Is My Money Gone?
I renewed a 9 month CD ($10,500) with IndyMac back in March/April 2008 after being with them already for a year. As of today, they are officially 'closed'. I never received a statement or any paperwork (in fact the whole time I received a total of like 2 statements). I am not even sure what my account number or balance is at the moment. Do I need to go to a local branch? I always slept easy knowing FDIC insured, but what if they hid my money? This is all news to me. Please advise. I cannot afford to lose the money
6 comments
ID
Location
Atlanta, Georgia
The suspense account scam
You make a full payment, but because you owe them a late charge, or any one of their other "extra" fees, they do not credit your payment to your account. Rather they put it in a "suspense" account. Next month you pay the full payment again and they also put your payment in the "suspense" account. Now you owe them only ~$150 in reality, but since all your money is in the suspense account, they say you are 2 months in arrears and they foreclose on you. You will never see the money in the "suspense" account. It all goes into "legal" and other "fees". This is a hideous bank that never answers the phone promptly, tells you they want to help, and after you fill out copious forms, they tell you sorry - can't help. Indymac Bank deserves to go out of business. Their management deserves to go to some more despicable place.
6 comments
ID
Location
Boston, Massachusetts
Indy mac construction loan
Indy mac devalued our home while in construction - they said they have been directed to be conservative...and refused to give us the money to finish....we qualified for the money..and the property rates have stayed steady in our area. 7 months later , haggling and haggling and after speaking with Mike Perry they gave us the money...but that's after paying $4000 interest payments ..65K and of course there not enough to finish because we paid so much out to INdymac. Then they offer us 8.75% roll over to fixed mortgage....We cannot afford this mortgage and they know it will drive us into default...so great we finish the house get their high priced loan and we end up defaulting and they end up with our house! SNEAKY.....We are trying to finish the house ourselves...we owe lots of workers...that we commited to when we saw our appraisal (it took indymac 3 months go get back to us after the apprasial was done)....this is clearly predatory lending. ANyone out there forming a class action suit please contact me here in these postings.
4 comments
ID
Location
Anchorage, Alaska
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You have a computer and apparently you have enough computer skills to post here but you don't have enough use google to go to indymac's website and then use mapquest? Sheesh