SUBMIT A COMPLAINT

Indymac Bank / modification of loan

1 United States Review updated:

My husband and I, like many homeowners with liens held by Indymac bank are in danger of losing our homes or already have lost them.
We applied for a loan modification represented by a reputal company and they've had no success with Indymac. They're always told our loan "is in review." This has been going on for months. From what I've read on the internet there are many people with the same problem. It appears Indymac is not interested in doing loan modifications. Then why did taxpayers bail them out? That money was supposed to help people keep their homes.
My grandfather was a state senator in South Dakota and he always praised our country. I don't think he'd like to see how this country is right now.
Beverly Mendenhall

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Comments

  • Va
      1st of Jul, 2008
    Indymac Bank - Horrible service
    Indymac Bank
    United States
    www.indymacbank.com

    I tried to open a CD with them this afternoon. The phone rep didn't know the rates, and when he obviously had difficulty with the simplest details, I asked where he was located.

    When he said "India", I thought for a moment and told him I was no longer interested.

    I then tried to contact the main office directly. Their phone system is the phone system from ***. You go round and round and never talk to anyone.

    When I finally did reach someone, I asked to speak with the Operations VP because I would like to register a complaint about their terrible customer service. I got transferred, but guess where? You guessed it, back to the phone system from ***.

    According to their own web site, their stock was trading at something line $0.60 cents today and that was down some 24%.

    I think it's pretty obvious that the wheels are coming off this bank.

    0 Votes
  • Va
      2nd of Jul, 2008
    Indymac Bank - Horrible
    IndyMac Bank
    United States
    www.indymacbank.com

    Phone centre sends me over the edge! Not only do they have an overseas call centre that does not understand a word you say, but the US call centre is just a waste! I have lost all respect for this company. After being on hold for over 73 minutes to correct an error that Indymac made and then waiting another 15 minutes again after the call was answered to have the problem resolved is just unacceptable!! Extremely POOR service! No one can answer as to why it took so long to help me. I am pissed about the service that I got. I am sure that is ONE of the reasons that they are in such trouble now. DO NOT have an account with this bank. Join a credit union they are so much nicer!!

    0 Votes
  • Va
      4th of Jul, 2008
    Indymac Bank - No organization, no regards for customer
    Indymac Bank
    United States
    www.indymacbank.com

    As of now my VA load through Indymacbank has been going on for a year. We have now gone through 7 appraisals and the requirement keep on changing. Seldom are any phone calls returned and we are always getting surprised by the total lack of caring on the reprehensive of Indymacbank. For example in a good faith estimate we had a closing cost of $3000. Now we received documentation (unexpected may I add) that the closing cost is well over $25, 000. Totally absurd seeing there were no buy down points.

    Documentation that we sent was lost constantly and we discovered that several files were open and disorganized. Promises were made constantly and never met. The owner and the realtor are now at wits end and like myself find it difficult to believe the total incompetence of all of the staff at indymacbank.

    For once we would like to see just a little of integrity and honesty with the people who appear to be having fun destroying our personal lives. In speaking with other people who have processed similar home loan with the same conditions it happened quick and expected the only difference they never went through Indymacbank.

    No matter who you call or who you E-mail you are always blown off and again a resolution never found. Even posting a real comment here will most likely never have any action taken nor will I ever be notified. It is however my hope that someone will read this and take another route to getting their home financed to avoid the months of frustration and aggravation that we have been forced to endure.

    No one should be treated as horrible as we have with total disrespect. It makes one believe that the VA benefit for those who served is designed never to be used. This is our thanks.

    0 Votes
  • Va
      14th of Jul, 2008
    Indymac Bank - They lied about my FDIC coverage
    IndyMac Bank
    United States
    www.indymacbank.com

    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 7/8/2017 stating my funds were all insured. Yet, I just found out today that a significant amount of my funds were not covered. I am divested. 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 is 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 intentionally or they just did not understand FDIC coverage. Banks cannot be trusted! US banking system cannot be trusted!

    0 Votes
  • Mo
      15th of Jul, 2008

    As a former FDIC employee, I received numerous calls stating that the bank told its customers that their accounts are fully insured. When I tell that the bank is wrong, they want to argue with me because they "trust" their banker.

    The FDIC set up a website so people can check for themselves. The problem is that they again "trust" the banker and complain after the fact.

    0 Votes
  • Va
      15th of Jul, 2008
    Indymac Bank - I am devastated
    IndyMac Bank
    United States
    indymacbank.com

    I bought 2 $100, 00 CDs in May over the phone-each account was in my name and I asked if each account was insured-he assured me that each was a separate account and they were insured by FDIC-(I am sure the conversation was recorded) - I am now faced with a loss of $50, 000 and must make a claim with the FDIC.

    I am a senior living on SS and a small pension-this is my life savings. I am devastated. I am looking for a lawyer to file a class action against this bank and the person who signed the certificates for not disclosing the true facts.

    0 Votes
  • So
      17th of Jul, 2008

    Lied about loan, Terrible customer service. Put me in a financial mess! Thanks Indymac, you must be proud to have ruined so many lives.

    0 Votes
  • An
      17th of Jul, 2008

    Why can't freaking FDIC ask banks to provide written FDIC coverage for their customers as part of their agreement to provide coverage for the bank customer. Right now bank is saying one thing FDIC is saying other. Who should we trust ? Even if I trust FDIC rep, I still don't have anything in writing about my FDIC coverage come bank failure.

    0 Votes
  • Va
      18th of Jul, 2008
    Indymac Bank - Big liars
    IndyMac Bank
    United States
    indymacbank.com

    I had multiple CDs with Indymac Banks and I was told by the bank representative that my funds were FDIC insured. Now half of my life's earning is gone. Taken by FDIC as uninsured fund. They have even taken out my Child's fund (which was less than 100K limit). I have been waiting for 7 days with no-sleep to talk to one of these FDIC insurance agent...

    It's not safe to put money in the bank even if someone says its FDIC covered...

    I have talked to Indymac Federal (after FDIC takeover) and now even though they are part of FDIC...they say we don't know why FDIC took your money go talk to FDIC insurance agent. There is no coordination...

    No bank for me in the future...

    0 Votes
  • Va
      25th of Jul, 2008

    I finally received a check reimbursing me for the wrongful withdrawal. 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.

    0 Votes
  • Jg
      29th of Jul, 2008

    Indymac lied to me too!
    I had a similar thing happen. Indymac told me I was insured for $200000 because I had a ITF account. I knew about the $100000 per account rule but this bank employer (from India) told me this and I trusted him. Now the FDIC says it's my fault for not being informed and 'knowing they were lying'. They can't get away with this and the consumers need to act. Are there people willing to complain and how can we do this as I group. I was lied to and even today the FDIC said I could take out my CD without penalties, then Indymac sent me an email that there would be penalties?? This is a small bump but the larger issue is how can we fight this, . Any ideas? I lost $27, 000, single mom, life savings...not a savvy banker, but I did trust this person, why wouldn't I? The FDIC agent said to call and complain at the Office for Thrift Supervision @800-842-6929, call your Congressman, call Attorney General's Office in CA? Any thoughts?

    0 Votes
  • Jg
      29th of Jul, 2008

    Don't give up hope, that's what they want. Talk to the claims agent, he will tell you where to complain. If we all band together we may be able to find a way to do a class action suit against Indymac. I was lied too
    and am looking into ways to get help. I'll keep you posted.
    Call the Office for Thrift Supervision (I got they're name from an FDIC agent). 1-800-842-6929.
    I'm writing them a letter since I was told my funds were insured up to $200, 000 which was a lie!
    Good luck

    0 Votes
  • Da
      31st of Jul, 2008

    I am one of the thousands of depositors that had uninsured funds at Indymac Bank. I had two CD’s with the bank I was assured that my accounts were properly insured by representatives at Indymac. One account was held as an individual insured by the FDIC for 100k and the other account was held as a trust with two beneficiaries (ITF’s) and insured by the FDIC for 200k. I have been informed by the FDIC that one of my beneficiaries on my account is not “qualified” and I have uninsured losses that exceeds 105k. I am not the only depositor that was ill-advised, misinformed, or lied to by Indymac Bank and the government needs to step-up and help people that were fraudulently induced to deposit more than FDIC limits by Indymac.

    0 Votes
  • Da
      31st of Jul, 2008
    Indymac Bank - Lied about FDIC coverage
    Indymac Bank
    United States
    Phone: 800-998-2900

    I am one of the thousands of depositors that had uninsured funds at Indymac Bank. I had two CD’s with the bank I was assured that my accounts were properly insured by representatives at Indymac. One account was held as an individual insured by the FDIC for 100k and the other account was held as a trust with two beneficiaries (ITF’s) and insured by the FDIC for 200k. I have been informed by the FDIC that one of my beneficiaries on my account is not “qualified” and I have uninsured losses that exceeds 105k. I am not the only depositor that was ill-advised, misinformed, or lied to by Indymac Bank and the government needs to step-up and help people that were fraudulently induced to deposit more than FDIC limits by Indymac.

    0 Votes
  • Ka
      7th of Aug, 2008

    I totally agree with the persons who made comments about Indymac bank. I was also misinformed and lied to when I opened my account over the phone. The government is responsible for peoples' loss and they should return people's money.
    Where were the regulators at that time. Why did'nt anybody let us know that we had uninsured deposits? It is ashamed that the government let the owners of this bank get way with people's money. We expect that the government to step up and return all the money to the people. We have worked hard and invest this money for our retirement. They should not let bunch of theves steal poeple's inventstment. Please notify me if you are going to start any class action law suit aginst this unethical financial institue.
    s

    0 Votes
  • Jg
      10th of Aug, 2008
    Indymac Bank - Misinformation about uninsured funds
    Indymac Bank
    Massachusetts
    United States

    TAKE ACTION on misinformation on your Indymac Funds
    Among the many, I was told that if I switched my MM for a CD with an ITF account, I'd be insured up to $200, 000 by an Indymac bank teller. So, I sent an additional amount over the insured $100, 000 believing the banker was telling the truth. Now I'm paying for my naivete.
    Today I was told my an FDIC agent that they are hearing many similar stories.
    If you have been misinformed you need to report it to: [protected]@fdic.gov or call them at 877-275-3342 Option 113.
    If enough of us that have been misled by the bank, report it. we may be able to do something besides feel helpless and depressed. Let's try and not let them take our spirit, they already have our savings!

    0 Votes
  • Va
      1st of Sep, 2008
    Indymac Bank - Beware
    IndyMac Bank
    United States
    indymacbank.com

    I agree with "Pissed Off" I was fed the same story and if they aren't investigating the charges by the average American citizen that was taken for thousands of $...shame on our government. Of course the operative word is average, there to stick it to where ever there's a buck to be made. Thanks for looking out after us. I've gone to over 6 other banks and got 6 different answers about FDIC. What is clear, our government is more concerned about it's institutions then it's citizens, many of whom are seniors and suffered a great loss!

    0 Votes
  • Bw
      4th of Sep, 2008

    I think Indymac is liable for your loss. Have you filed a complaint with OTS?

    0 Votes
  • Da
      15th of Sep, 2008

    I was also misled by Indy Mac Bank about my deposits being insured. So far, I'm out $120, 000 that the FDIC claims in uninsured. Something should be done to get our money back. We put trust in the bank and were not told the truth. Even when you call the FDIC, different people give you different information. When I first called after the bank failed I was told by the FDIC that I was totally insured.

    0 Votes
  • Va
      9th of Oct, 2008
    Indymac Bank - Awful bank
    IndyMac Bank
    United States
    indymac.com

    I am one of the foreclosures with Indymac. My home is one that I live in, so I'm not a "house flipper". So, things are bad and I get in touch with Indymac's loss mitigation specialist. Basically, all he has to say is that I either have to come up with a lump sum to refinance or I have to furnish proof of more income! If I had money I wouldn't be losing my house!!!

    To top it all off, the house is now not even worth $125, 000 (not selling at that price on the MLS over the past 8 months). This Indymac guy says if I refinance the house is worth $164, 000... I am wondering what planet he is on? Now, I've written Micheal Perry CEO for help, one week ago, and have heard NOTHING!!

    Now, wonder why the banks continue to fail. If they operate like this one, their properties are just going to rot and lose value, instead of them getting something... they are choosing to get nothing...

    0 Votes
  • Ch
      31st of Oct, 2008

    I am looking for any class action against Indymac Bank, because of lies, mis-led, misinformed by either FDIC, or bank staff.

    I am one of thousands victims who trust the bank system, we are the innocent depositors, we worked hard, we save our earned money, we are not stock player, we had put our real and good money into Bank's saving accounts or CD accounts, we are not house morgagers, why should we pay our honest money for those cheaters? we have to fight for the TRUTH.

    If you already had a lawyer or you know there is a class action, please let me know.

    0 Votes
  • Da
      1st of Nov, 2008

    The FDIC is just as at fault as Indymac Bank. FDIC was aware of what was going on and did nothing. Now with all the recent changes regarding "qualified" beneficiaries and the increased deposit insurance limits most of us would not be in this perdicament. The FDIC needs to go back and make these changes retroactive to when this financial crisis initially began. If the government is so set on issuing stimulas packages and government bailouts than simply give us depositors our money back.

    0 Votes
  • Gi
      4th of Dec, 2008
    Indymac Bank - uninsured deposits
    Indymac Bank
    California
    United States

    WE ARE BEING ROBBED

    I am also stuck for over $ 64, 000. in "uninsured" savings.

    I have been e-mailing reporters,
    senators, federal officials to no
    avail.

    I am collecting a group
    of fellow "uninsured " depositors
    to present a stronger voice in our
    plea for our just due.

    We have been swept under the rug!

    The Treasury has a moral obligation to bail us out !!
    They were not paying attention !!!
    Instead they are rewarding the criminals.

    Please e-mail me your e-mail
    contact and telephone number so we can get in touch.

    LET'S MAKE SOME NOISE !!!

    0 Votes
  • Ka
      16th of Dec, 2008
    Indymac Bank - Uninsured FDIC savings
    Giardina Realty
    5191 Firwood Drive
    West Linn
    Oregon
    United States
    Phone: 503-656-9960
    karenandtony.com

    I was told that I was 100% insured. I had even changed my beneficiaries to make sure. Then they told me that I was not insured for some of the $$ because some of the beneficiaries did not qualify, even though Indymac assured me that all was in order.

    Do we sue FDIC for lack of oversight? Do we sue the defunct bank?

    Let's get together.
    Karen Giardina
    [email protected]

    0 Votes
  • Ji
      9th of Jan, 2009

    I am going through the same thing. We set up a loan modification/forebearance plan...made the payents, signed the papers..mailed and faxed them back, and rec. nothing !! They claim to have lost/never rec. them !! I gave them the number it was faxed to and it was mailed back in one of their return envelopes!! Now thye statred the plan all over again..Made payment Dec 29th, and I Jan. 5th rec. a letter saying they denied the new plan...WHAT? They told us our 1600, mortgage will go up to 3700 !!! Or they will start forecloseng on us. Who has 3700? to pay when you onle bring home 4000 a month ? Can anyone help?

    0 Votes
  • Li
      28th of Jan, 2009

    Check out the following website for more details on the Uninsured Depositors.

    http://www.indymacdepositors.com

    Cheers

    0 Votes
  • Li
      28th of Jan, 2009

    Check out the following website for more details.

    http://www.indymacdepositors.com

    Cheers

    0 Votes
  • Li
      28th of Jan, 2009
    Indymac Bank - Banks Failure to Insure Funds
    United States

    IndyMac Bank officers said we were insured...but we were not.

    If you also fall into this category...go to

    http://www.indymacdepositors.com

    to find resources and join others in the fight to get out funds back.

    Cheers

    Lisa

    0 Votes
  • Ta
      31st of Jan, 2009

    WE ARE GOING THROUGH THE SAME THING WITH IMB - REPAYMENT/MODIFICATION PLAN...THE PROBLEM IS...IMB LOSS LITIGATION DOES NOT COMMUNICATE TO ALL DEPARTMENTS (COLLECTIONS, CUSTOMER SERVICE, ACTUAL RECORDS (INVOICES/COMPUTER AUTOMATED) INTURN, YOU HAVE 5 DIFFERENT PEOPLE CALLING WITH 5 DIFFERENT FIGURES/RECORDS! WE WERE ON A LOAN REPAYMENT PLAN - AND EACH TIME I CALLED IN TO MAKE A PAYMENT ON THE AGREED DATE...THE AMOUNT THAT IMB REP'S SAW DUE WAS DIFFERENT THAN WHAT WAS AGREED. IT'S ALMOST LIKE THEY ARE PURPOSELY TRYING TO SCREW AROUND TO MAKE MONEY! THIS HAS BEEN GOING ON SINCE APRIL 08 - IT'S NOW JAN 30TH 2017! AND THEN...WHEN YOU MAKE THE (AGREED TO) PAYMNET...AND IT'S DIFFERENT (OF COURSE IMB'S FIGURE IS MORE ) THEY WON'T ACCEPT A PAYMENT FOR LESS THAN WHAT IS DUE? HMMMMMMMMM - AND THEY WONDER WHY THEY ARE GOING UNDER??? WOULD LOVE TO HEAR FROM ANY OF YOU REGARDING THE SAME SITUATION AND HOW YOU GOT THROUGH IT...WE ARE FILING A FORMAL COMPLAINT WITH THE FDIC... GOOD LUCK ALL!

    0 Votes
  • Al
      9th of Feb, 2009
    Indymac Bank - Banks Failure to Insure Funds
    United States

    During a information phone call to Indymac, I was convinced by an Indymac customer service person to switch my Savings to a Premium Money market account and 4 month CD to obtain higher interest. My original account was covered up to $200, 000 with both daughters as beneficiaries of the trust.

    The new account did not transfer this over the trust, nor did it ever receive a signature card for this account. In addition, the letter of notification for the 4 month CD maturity date arrived late. The bank essentially transferred my savings without insuring my money. The carelessness by the bank employee and the lack of oversight by both Indymac and the government entity responsible for oversight (OTS) have resulted in my sustaining a loss of more than $40, 000.

    Is there anyone else who has had this experience? Are there any attorneys taking on a similar suit?

    Thanks,

    E. A. Alexander

    0 Votes
  • Fr
      12th of Feb, 2009

    same thing here, my husband died last April, 2017 and I applied for loan and get house in my name . Finally a Cornell Wallace negotiated and said they would do a loan modification and I had to send in $1400.00 right now within forty five minutes or it would default . Well ### all of this time waiting and then in November they said the investor does not do loan modification so now my home is in foreclosure and I do not know where to write .But I am contacting washington D C and find someone for these ### are nothing but crooks .

    0 Votes
  • Fr
      12th of Feb, 2009

    Oh again this Mr Cornwell Wallace with Indymac bank said I had to have money wired within forty five minutes and when I got back from wiring it to him he told me no hurry for I am going out for taco's now anyway . So how do you think that made me feel . He is probably some fat ### setting behind a desk laughing . I am so stressed right now and I have no where to go, this house has been in this family for over fifty years .We had a flexible loan and my husband came down with brain, lung cancer and was so sick during this time and he had my name put on home so I could deal with them well they are nothing b ut ### of the earth, crooks and I am loosing what I have left of my life at sixty years of age . I hate these lying no good ### and they have ripped so many off and they will have to drag me out of my home .

    Frances L Hettinger

    0 Votes
  • Fc
      8th of Mar, 2009

    What really get's me is the fact there are still loan officer's has of Feb. '09 still making $20k-$30K a month. This is not a joke, I used to know a couple of colleagues there. This need's to be investigated somehow. Everyone is losing their homes and so forth, while employes are still cashing in.

    0 Votes
  • Va
      1st of Apr, 2009
    Indymac Bank - Breach of contract
    INDYMAC BANK
    United States

    At the end of last Year I called Indymac for help. I could no longer afford my payments on my house. They told me to fill out the loan mod packet and send it with a payment of almost $3000. The deadline they gave me was 12/31/2017. I sent the loan mod packet with a payment on 12/27/08 and it was received in their office on 12/28/08. I even have the registered mail receipt and the person who signed for it in their office. On 12/28/08 they filed a NOD (Notice of Default). Since then I have been calling and following up with them and they are sending me in circles. They denied my loan mod, and won't give me a reason why. They also breached their contract with me, which was to send in a payment with the loan mod packet and everything would be OK. I am currently living in the house and don't know what to do. Indy Mac is full of fraud. Their promise to help consumers is fraudulent and deceiving. The lady I talked to on the phone today at Indy Mac was very rude. I told her I would go to my local congress rep with this breach of contract. Her response was "there are hundreds like you".

    0 Votes
  • Mu
      1st of Apr, 2009
    Indymac Bank - They sold our home at auction without notifying us
    INDYMAC BANK
    United States

    We tried to modify for 7 months unsuccessfully so they filed a NOD and issued a sale date. A buyer presented an offer to purchase so the sale date was removed and the short sale was presented with a perfect A+ buyer. They took 3 months to review the offer & then they called the agent and said they were approving the short sale to hold tight and a counter offer was being over. In the mean time they sent the house to auction & took ownership of it, and just gave us 10 days to vacate. They are the ### of the earth.

    0 Votes
  • Me
      9th of Apr, 2009

    I work for a law firm in California and I am dealing with another client's situation that is very similar. You need to get an attorney and a tax accountant to be safe that if you did lose your home you are not going to be hit with taxes and a defecience judgment. Also IndyMac is saying the don't have programs for option arm loans and that it depends on the investor. Our clients are looking to file a lawsuit and a forensic audit was done on the file to find any broken laws. I don't think the news has really opened and uncovered the real dirty games the banks are playing with poeple.

    +1 Votes
  • Ju
      2nd of May, 2009

    ummm you just said you got a NOD...what do you think that is? shortsales are not a guarantee they won't foreclose before the process is over;if you don't pay your contractual payment then any mortgage holder has the right to foreclose. i'm sorry this happened to you but they had every legal right to do so.

    0 Votes
  • Ju
      2nd of May, 2009

    ok you say they breached their contract with you for the CONSIDERATION for a mod but wasn't it you who breached your contract first when you didn't send in your payment as outlined in your mortgage note? I got laid off as well from a mortgage servicing company similar to Indymac and if their policies are at all like theirs were, the mod pack you got was to consider you for a mod only; i know it probably said something in terms that it lead you to believe it was a done deal but believe me, it is not until you actually receive additional documents stating that it truly truly is a done deal. Up until that point the actual mortgage HOLDER (as opposed to what Indymac most likely is just the SERVICER) who may be anyone from FannieMae to OcWen to Lehman Bros *they* are the ones who review your tax info and employment info and credit info and then they decide if it's in THEIR best interest to do the mod or to foreclose. In most cases, it's better for THEM to just foreclose. I know it seems like it wouldn't be but eventually it is with the markets coming back. I am truly sorry to hear this happened to you and I can empathize as I also have been booted from my job and are facing the same issues as you; only I know how this whole process works and I know it's pretty much a losing battle for the little guy. Better to just move on and get an apartment for a while. Sucks.

    0 Votes
  • Ms
      19th of May, 2009

    EVERYONE SAYS THEY DON'T WANT OUR HOMES - WHAT'S THE DEAL? THEY SEEM TO WANT MINE!

    0 Votes
  • Ms
      18th of Jul, 2009

    THEY WANT MINE TOO!

    Who is the legal guy who's comment is above. Need to get a CLASS ACTION suit going against them! I'll do anyting I can to facilitate!

    0 Votes

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