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Attention: Do not file complaints with your local attorney general about IndMac you need to file it with the FDIC.

The Federal Deposit Insurance Corp

Division of Compliance and Consumer Affairs

550 17th St NW

Washington DC 20429


We need mass complaints filed to stop these monsters from stealing our homes and preditory lending practices. Anything we can do to bring attention to this criminal activety the better-re-post this so the word gets out. Together we stop this monster from putting us out in the streets. Do not delay time is critical!

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Vacherie, Louisiana, United States #196852

Vacherie, Louisiana, United States #196851







Whistle-Blower: Banks Give Homeowners the Runaround

800-Numbers Lead to Runaround as Banks Refuse to Modify Mortgages


March 23, 2010


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A vice president for one of the nation's biggest banks claims customers looking for help in lowering their mortgage payments are often told to call an 800 number -- where he says representatives then give homeowners the runaround.

"World News" has an exclusive look at how banks avoid modifying mortgages.The bank executive spoke to ABC News on the condition that ABC News not show his face or name him, because he feared coming forward would cost him his job.

Of the 1.1 million homeowners who've signed up for the federal program aimed at avoiding foreclosures, only 168,000, or 15 percent, of homeowners have had their mortgages permanently modified.

"In our managers meeting, which can last eight or nine hours, we probably addressed mortgage modifications five minutes or less," the banker said.


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Jay and LeeAnn Givan are two of those frustrated Americans who reached out to ABC News about their banks. They say they've run out of time and money. Both lost...

"The bank's not interested in helping us," LeAnn said. "Just a couple of weeks ago, Jay was on the phone for two hours being transferred from department to another department until finally somebody told him, 'Look, we can't help you until you stop paying on your house.'"

The couple made its last mortgage payment last week.

"I have heard that," the banker said. "That will affect their credit card, their insurance, [have] a big effect on their credit history."

The banker described homeowners pleading to him for help, but he said his bank is not interested in modifying mortgages, even after taxpayers helped bail out the nation's biggest banks.

"It's just not happening," said the banker.

The banker said there is significant pressure on bank employees to get customers to take on more accounts than they need because of the late fees and penalty fees that will then come from those accounts.

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PrintRSSE-mailShare this story with friendsFacebookTwitterRedditStumbleUponMoreComment & ContributeDo you have more information about this topic? If so, please click here to contact the editors of ABC News.

Member Comments (56)

@Alphachic! I had the same issues with Bank of America, they hold your checks and run them all through to maximize your penalty, they did it many times too me even after I went in and showed them proof. I got out of Bank of America and I too have more money in my account! Good Riddance!

BCUSF 7:49 PMThey don't want to negotiate. They do better if they can either right the debt off on their taxes or take over the property ( the new emminent domain) and either sell the same property for a higher price or sell back the land to the city. Banks and mortgage lured people in and then did a bait and switch on us. Also refuse all the add-ons that they try to sell you. Refuse the accident insurance. Refuse the low-cost life insurance. Refuse the free credit report. Refuse the free credit report. Refuse any new services from them.

linedance79 7:48 PMIt"s so true so many people re conplaining about the same thiing including me I applied for modification more than six months now all you get is the run around call 1800 number .numerious times you call to find out the stautus of the modification they are still woking on it or they would ask for things that you already submitted prior These banks should be shame they got the TAX payers money then we the the tax payers getting treat like this this is what the peolpe in Congress and the Senate should be paying attention to instead there is no oversight on these institutions and there are more protected and care for than the average Joe Bank of America and these big banks are doing injustice to the customers and they are getting away with it

erviston 7:41 PM

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I, too, have been a victim of Indy/Mac One West Bank.

August 2009, I went into foreclosure. I submitted a loan modification package, talked with tons of "loan modification specialists", got a verbal approval and a promise the "package" would arrive within 3-4 weeks.

I also signed a forebearance agreement with egregious terms, that was "required" to stop the foreclosure.

That, AND a check for nearly $20,000.00.

Twenty three days later, without ANY NOTIFICATION TO ME, Indy/Mac put me back in foreclosure, even before the loan mod. package could arrive. By the way, it NEVER arrived. Indy/Mac never sent the mod.

Thirty day later, without ANY NOTIFICATION TO ME, Indy/Mac sold my home at auction for $415,000. A recent appraisal of my home showed it's value at $805,000.

So--they took all my money, stole my retirement equity and within 30 days will evict me and my kitties from my home of 34 years.

Few attorneys will even consider a case such as this, because the Banks and the Courts are collusive.

Communication with the Bank is impossible. I have contacted their Legal Department and received a few phone calls, mostly unpleasant, insisting Indy/Mac did NO wrong, yet they consistently provide inaccurate facts and conflicting information.

Thank you for the info. on the FDIC. I will email/send/fax/mail to them tomorrow.

This unjust and illegal behavior on the part of the Bank, cannot continue.


I missed the rally...i hope to attend the next one!


I Just filed a complaint with FDIC, what else can be done to stop this harrassment from this disorganized Bank? :cry


I also have been dealing with this loan modification for over a year now, with One West/Indymac only to be having to send paper after paperwork on trying to remodify the loan , now i just got a letter from them wanting a short sale.


Do not bother telling the FDIC...well, I take that is good to complain to them, since they are the ones that sold Indymac to Onewest without making sure the in-process loans would be handled properly.The FDIC should know what a mess the whole thing is.

However, Onewest bank is not regulated by the FDIC.

The Office of Thrift Supervision now oversees Indymac/Onewest.1 (800) 842-6929

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