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I like to know how many senators , congress persons lost their homes or have problems with refinancing or modifications of their mortgage............with INDYMAC BANK /ONE WEST or they are getting to be foreclosed by ONE WEST/INDYMAC.

I also like to know ,where is the one, who is/was responsible for giving away our money to the Banks ................especially Indymac Bank so WE THE PEOPLE CAN GET F......... BY INDYMAC. Who was it ?....................................................................

I like to know why Government purchased and sold Indymac Bank and where is the Government now ? Do we have government or not ? Where can we find one who is responsible for all these BS.......modification ....propaganda ............................

Monetary Loss: $950.

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2 yrs ago i stared tis nitemare to b told indy macs investors don;t offer loan modifications.theydidn;t no that jan 4th 2009.

cant;t even call bank they r useless my hardship has been loosing my dad and 3 brothers does mr. soros care not.

time for a big class action suit.look up who our investor is and his background u need i say more.




ES UNA FALTA DE HONESTIDAD Y DE RESPETO TOTAL A MI ME DIERON EL " SUPUESTO PLAN DE OBAMA" pague la modificacion por 5 meses y al sesto me dijeron que no calificaba y perdi los 6000 dolares que pague por 5 meses y nunca me dieron una respuesta objetiva de pq me negaron dicha modificacion

que paso *** el plan de obama?


president help us get apresident help us get a modification modification


juan keep fighting dont stop theres alot of crooked stuff going on with bigger people than we think.. email to get on law suit class action.. thank you...if they foreclose its more money for them./.. the truth is that one west bank is robbing people. look into this matter iAnatomy of a Government-Abetted Fraud: Why Indymac/OneWest Always Forecloses

December 1st, 2009 • Related • Filed Under

Filed Under: Avoid Foreclosure • FDIC • HAMP • IndyMac/OneWest • facing foreclosure • featured • government-abetted fraud

Several times per week, I get phone calls from attorneys. These calls all start out the same. “I am unable to get loan modifications done through a lender. What can I do?” The first question I ask is if the lender is Indymac/One West. Invariably, it is.

I also field the same type of calls from homeowners and from loan modification companies. Everyone is having the problem of Indymac not cooperating with regard to doing loan modifications. Furthermore, if I google the issue or check out loan modification forums, the same is true on the internet.

What is going on with Indymac/One West? Why aren’t they doing loan modifications? This article will try and bring together the known facts for a better understanding of the situation, and discuss what the Indymac situation means for foreclosures in general — and the government’s response to the crisis. First, to understand the situation...


Indymac was a national bank in the U.S. It was insured by the FDIC. On July 11, 2008, Indymac failed and was taken over by the FDIC.

Indymac offered mortgage loans to homeowners. A large number of these loans were Option ARM mortgages using stated income programs. The loans were offered by Indymac retail, and also through Mortgage Bankers would fund the loans and then Indymac would buy them and reimburse the Mortgage Banker. Mortgage Brokers were also invited to the party to sell these loans.

During the height of the Housing Boom, Indymac gave these loans out like a homeowner gives out candy at Halloween. The loans were sold to homeowners by brokers who desired the large rebates that Indymac offered for the loans. The rebates were usually about three points. What is not commonly known is that when the Option ARM was sold to Wall Street, the lender would realize from four to six points, and the three point rebate to the broker was paid from these proceeds. So the lender “pocketed” three points themselves for each loan.

When the loans were sold to Wall Street, they were securitized through a Pooling and Servicing Agreement. This Agreement covered what could happen with the loans, and detailed how all parts of the loan process occurred.

Even though Indymac sold off most loans, they still held a large number of Option ARMs and other loans in their portfolio. As the Housing Crisis developed and deepened, the number of these loans going into default or being foreclosed upon increased dramatically. This reduced cash and reserves available to Indymac for operations.

In July, 2008, the FDIC came in and took over Indymac. The FDIC looked for someone to buy Indymac and after negotiations, sold Indymac to One West Bank.

OneWest Bank and its Sweetheart Deal

OneWest Bank was created on Mar 19, 2009 from the assets of Indymac Bank. It was created solely for the purpose of absorbing Indymac Bank. The principle owners of OneWest Bank include Michael Dell and George Soros. (George was a major supporter of Barack Obama and is also notorious for knocking the UK out of the Euro Exchange Rate Mechanism in 1992 by shorting the Pound).

When OneWest took over Indymac, the FDIC and OneWest executed a “Shared-Loss Agreement” covering the sale. This Agreement covered the terms of what the FDIC would reimburse OneWest for any losses from foreclosure on a property. It is at this point that the details get very confusing, so I shall try to simplify the terms. Some of the major details are:

OneWest would purchase all first mortgages at 70% of the current balance

OneWest would purchase Line of Equity Loans at 58% of the current balance.

In the event of foreclosure, the FDIC would cover from 80%-95% of losses, using the original loan amount, and not the current balance.

How does this translate to the “Real World”? Let us take a hypothetical situation. A homeowner has just lost his home in default. OneWest sells the property. Here are the details of the transaction:

The original loan amount was $500,000. Missed payments and other foreclosure costs bring the amount up to $550,000. At 70%, OneWest bought the loan for $385,000

The home is located in Stockton, CA, so its current value is likely about $185,000 and OneWest sells the home for that amount. Total loss for OneWest is $200,000. But this is not how FDIC determines the loss.

‘FDIC takes the $500,000 and subtracts the $185,000 Purchase Price. Total loss according to the FDIC is $315,000. If the FDIC is covering “ONLY” 80% of the loss, then the FDIC would reimburse OneWest to the tune of $252,000.

Add the $252,000 to the Purchase Price of $185,000, and you have One West recovering $437,000 for an “investment” of $385,000. Therefore, OneWest makes $52,000 in additional income above the actual Purchase Price loan amount after the FDIC reimbursement.

At this point, it becomes readily apparent why OneWest Bank has no intention of conducting loan modifications. Any modification means that OneWest would lose out on all this additional profit.

Note: It is not readily apparent as to whether this agreement applies to loans that IndyMac made and Securitized but still Services today. However, I believe that the Agreement does apply to Securitized loans

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think the judge felt it was almost a personal vendetta." Dealing with the bank, he said, was "like dealing with organized crime."

To make along story short...Feds sold Indy to One West for about 50c on the dollar for the mortages they were holding, and insured their losses at the 70% level.This were for the most part uninsured mortages [sub prime]Fannie & Freddie mac mortages were insured at the 40% level.

What this means is that One West can sell your home for 1/2 of your mortage value and still turn a 65% profit after they pay their lawyers because our goverment is going to pay the 70% loss they took, with tax dollars!!! You can go online and see who owns/running One West. George Soros? Who is he?

who was he backing last election??

Where did all of that millions Obama picked up from overseas supporters???Figure it out!!


my house was schedule for forclosure and the day before the sell they stopped it and charged it off. its been 5 months and i havent heard anything from indymac every time i call they tell me that whoever they sell the loan to will be in touch with me


We will file a class action law suit against Indymac and One West Bank. Anybody interested e-mail me your story at or e-mail me and I will give you my number.


like to know how many senators , congress persons lost their homes or have problems with refinancing or modifications of their mortgage............with INDYMAC BANK /ONE WEST or they are getting to be foreclosed by ONE WEST/INDYMAC.

I also like to know ,where is the one, who is/was responsible for giving away our money to the Banks ................especially Indymac Bank so WE THE PEOPLE CAN GET F......... BY INDYMAC. Who was it ?....................................................................

I like to know why Government purchased and sold Indymac Bank and where is the Government now ? Do we have government or not ? Where can we find one who is responsible for all these BS.......modification ....propaganda ............................


Why can't the bank that took over from Indymac just lower the interest rates on all mortgages without refinancing and there won't be so many people going into forecloser! :?


I am under review for a mod.with indymac.

Indymac told me today they have ALL documents needed to continue the review for the modification. I have a SALE DATE for the end of this month OCT. 22nd and they dont have enough time to coninue the review to give me an answer whether im approved or denied. They stated ROBERT @ LOSS MITIGATION "EVEN THOUGH WE HAVE ALL NECESSARY DOCUMENTS TO CONTINUE THE REVIEW WE CANNT POSTPONE THE SALE DATE UNLESS YOU ARE PLACED IN A REPAYMENT PLAN A 1ST DOWN PAYMENT IS NEEDED 90% OF THE DELENQUENT AMOUNT PAYMENT FOR ONE MONTH AND ORIGINAL MORTGAGE PAYMENT FOR 6 MONTHS TO POSTPONE THE SALE DATE IN ORDER TO HAVE MORE TIME FOR THE REVIEW." WTF why didnt they let me know when I first applied back in JULY that they werent going to have enough time to continue the review.



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