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Indymac/one West Bank


Unwillingness to help/Loan Mod.

Complaint Rating:  83 % with 12 votes
83% 12
Contact information:
IndyMac/One West Bank
Tracy, California
United States
Wow and here I thought I was alone in this One West/IndyMac nightmare. I had to change employment 24 months ago only to see my income split in half. My wife was let go from her job of 10+ years in August. We have been trying from 13 months now to get One West/IndyMac to help us as we have seen our income cut by 3/4. I have faxed and mailed well over 150 pages of documentation, I've got detailed records of my 50+ phone calls to One West/IndyMac all to no avail. The robots that answer the phone are clueless, rude and terribly unprofessional. It's so frustrating as no one knows whats going on. 9 months ago I was scammed by One West/IndyMac into thinking they were going to modify my loan. As it turns out, it was a repayment plan disguised as a "Trial Modification" The most alarming part is I received a letter 2 days after I made my last "Trial Modification" payment dated 2 days before said payment was due that our modification was denied due to lack of supporting documentation. Are you kidding me? 150 pages of documentation and now you need more? One West/IndyMac is clearly the worst lender in the business and simply there money regardless of whether their customers were "missled" into a bad loan by a "shady" broker that misrepresented there products. It is not at all a surprise that that broker is not longer in business. Has anyone know of anyone that has had a successful modification with One West/IndyMac????
Complaint comments Comments (19) Complaint country United States Complaint category Real Estate
More Indymac/one West Bank Complaints & Reviews
Indymac/one West Bank - Loan Modification


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A  28th of Dec, 2009 by    0 Votes
We are also dealing with Indy Mac/One West Bank regarding our mortgage. My husband lost his job earlier this year and was forced into going back into business for himself. Dealing with the customer service agents that are clueless and some basically rude have turned us into non-trusting, angry individuals. We were 2months into a temporary loan mod and then they sent us another temporary loan mod for $800 more than the first one. Now they are saying we should be paying the original first loan mod amount. They got a sweet deal from the FDIC and from what I understand they make more money by foreclosing than providing a loan modification because the FDIC covers 80-95% of losses, using the original loan amount, the Shared-Loss Agreement. Beware of Indy Mac/One West Bank, they are out to get your homes. We are now considering filing bankruptcy.
A  28th of Dec, 2009 by    0 Votes
I have been fighting one west bank for 6 months. I have an attorney invovled now but still doesnt seem to help. The Bank is claiming that I am 10 months behind in payments. When in fact I am current. The problem is that every time i send a payment to them it takes about one month before I get the check returned to me. I have been sending cashiers checks now for about 9 months so that I can be sure that they are getting proper payment. When the checks return to me about one month later I am given a letter that the property is in foreclosure and partial payments cannot be accepted. This seems to be a simple fix. But One West Bank still thinks that I am Behind in payments. Long story about the returned checks. My attorney says that the bank has complete control over the acceptance of a payment. They may choose to take payment or return it if it does not cover the entire past due amount. The problem with this is I have never been past due. The Bank has also been sending people to my house every week to check it for occupancy and take photos. I have since installed a large gate over my driveway and posted no trespassing signs. The Banks attorneys sent me an appology letter about 2 months ago and said every thing was a mistake and It wont happen again. So now for the last two months I have been watching people from their Bank try to get into my property. I have talked to one guy who came out to take pictures and He said the bank is selling my property in a Foreclosure sale this march. I was blown away by this as again I have not been late or past due. I have started the begining of a long battle with this bank. I am ready to sue this bank . I cannot express the amount Anger I have toward this Bank . The people that answer the phones are rude and they really dont care about helping their customers . They seem to really just want to take the property. But I will Fight it to the end. I wish more people would come forward with more issues about One West Bank. Maybe if more people file complaints they will stop their predator like tactics!
A  29th of Dec, 2009 by    0 Votes
I too have been fighting to get papers to finalize my loan modification. I was told all along that its approved and they are just backed up. All along I have been receiving collection notices. I was told that it is automatically generated and just ignore it-but keep making the modified payments. I was to received final docs by the end of December 2009 . When I inquired about the documents- I was told that I no longer qualify and that I should short sale my house--umm NO! I have hired a Loan Modification Lawyer. He has herd of this too often. He looked at my original docs and wouldn't you know it--they have been doctored so that I could qualify for the loan. It was stated that I had 35K in my checking account- funny how my bank statements does not show that!
So yes the gloves are off--when will someone stop this madness!!
A  6th of Jan, 2010 by    0 Votes
Do not file bankruptcy, hire an attorney.

We have been going through lies, deceit, loss of documents that were fedex and signed by IMB. After complaining and involving HUD, 3rd Party Mediators, FBI, and a whole group of government agencies I was told by the FBI to file civil suit.

We have, our attorney says its the only way to resolve, bankruptcy is not an option is just gives IMB/OWB what they want more fees and money to cover their losses. They make money if you file bankruptcy. The only way to hurt IMB/OWB is civil suit for damages due to their deceit and negligence in handling our confidential financial information.

When we get our day in court I will be going with all of these complaints and fighting for all us, I urge you to do the same. The only way to take down the banks who are scamming is take away their money lets all tie them up in court until they are bankrupt.

Fighting In Texas
N  15th of Jan, 2010 by    0 Votes
I first applied for a loan modification with Indymac in June, 2009, and I'm still awaiting their judgment. On Nov 27th, I phoned Indymac to make a payment and they informed me for the first time that my property had gone into foreclosure, and they couldn't accept my payment. I had received no written notification of that. On the week before Xmas, I received a notice of default.
The week after Xmas I was sent my trial modification, which was the amount I paid monthly plus monthly property taxes and monthly fire insurance, over $400 more. Then I talked with a Rep who told me I had a "tentative auction" date of Feb. 25, 2010.
I have to respond by Jan. 23. It was my understanding that I would receive a modification if I pay Feb.-Apr. payment on time, but there is no mention in the document just what those monthly payments would be. After reading these other stories, I'm beginning to wonder if this is just a device to get money out of me until they decide in the future to sell my house. Are there any updates from those who have accepted or not accepted the trial modifications. Does anyone have any advice?
Thank You
N  29th of Jan, 2010 by    0 Votes

IndyMac/One West Bank - Lender Unlawful Activity
IndyMac/One West Bank
United States

CLASS ACTION SUITS INDY WEST AND ONE WEST BANK. Yes there are class action suits being organized . If you are an IndyMac/One West victem, do something in addition to writing and reading blogs. We are assembling a base of mortgage victims for class action suits. Please write a brief description of your situation, your propertie(s) address, the status of your loan, and your contact information.
Send to homefighter@yahoo.com
A  23rd of Feb, 2010 by    +1 Votes
I am going threw the same exact thing with this lender, they have put me threw the modification process many different times, with the ending result be "Your Investor does not Participate with these programs", I am in fear of loosing our home and not sure what to do? Is there any kind of help? I have also contacted the HOPE hotline, and they really are nice, but hve not been able to provide me any sort of solid help! IndyMac/OneWest needs to stop foreclosing on homeowners and start helping!!
A  24th of Feb, 2010 by    0 Votes
Our mortgage was just increased by $700 a month. i am outraged.
A  1st of Mar, 2010 by    0 Votes
OMG! I am glad but at the same time sorry to hear I am not the only one having problems with them! I will keep fighting them, I will not back down. I bet they have screwed too many people over than necessary. They give people a hard time so that they will give up. My problems are too long to list. My current problem in short detail is that I am on my trial modification program however, they are not submitting my payment. They are dragging their feet processing it into the 'trial modification' and continue to claim that since I am late I may not qualify for the program... I am NOT late, they just won't apply the payment as they are supposed to. I have been lucky to contact my congressman who is helping me with them. My advice to everyone is to not give up and seek help with your local congressman if necessary.
good luck!
N  18th of Mar, 2010 by    0 Votes
You must consider a shortsale most people do not realise that the bank does not care about the homeowner and there are millions of boiler room scams offering loan mods popping up every day . Out of 4 million homeowners facing foreclosure only 135, 000 have been helped thru a modification, companies are no longer allowed to charge for modifications so anyone offering their services at a price is a scam . I suggest talking to a licensed real estate agent about your case.
also many people do not qualify for the 5 requisites the bank requires .

we do not charge for modifications or shortsales the bank pays us. We wont ask u for a dime.

Joaquin Roman
Roman Realtors and Financial Services, Inc
3005 S. Bristol
Santa Ana, CA
A  2nd of Apr, 2010 by    0 Votes
I saw your posting online regarding assembling a class action lawsuit against One West and IndyMac.

We received a construction loan from IndyMac in the summer of 2006 which would roll into a permanent loan when we were finished building the home. So when we were finished in July 2007 we had a $1.2 Million loan amount; however, this was right at the point of the worldwide economic collapse and IndyMac removed every loan program from our list of options and only gave us 2 options: 1) a fully amortized loan at 8 or 9% or 2) a fully amortized 1 month Libor adjustable loan.

They said that because we went stated income on our loan documents, which was suggested by the loan broker, we couldn’t qualify for a more affordable loan, like a interest only, when the construction loan rolled into a permanent loan. We had great income and credit; however, the loan broker steered us to the stated and inflated a lot of our numbers in order to qualify for the construction loan. If we knew that this would have made it impossible to qualify for an affordable permanent loan then we would have never signed up for the construction loan in the first place.

Now IndyMac/One West won’t even talk to us. We are current on our loan but we are only a few months away from being able to. We are seeking a lawyer to take on our case.

A  17th of Sep, 2010 by    0 Votes
Indymac is running a scam with the home modification loans, i have been strung along with them making payments for over a year, now they denied me and the reason was incomplete documentation or lost faxes, how can this be when for over a year our financial status has not changed, their response we didnt send required documents with in the thirty day period, i never received any request in the mail or by e-mail, this is a fraud and criminal action by a bank that only wants to profit by selling your home forward !
N  6th of Oct, 2010 by    0 Votes
Hi everyone,

I am in the same situation that you are with this bank because they dont want to modify my lown, and they are pushing me to go for short sale or forclosure. I need a lawyer who I can trust, and who will fight the bank with me. So if anyone has any success in finding a good reliable lawyer, or has any advice towards this problem e-mail me @ inna94@gmail.com
A  22nd of Nov, 2010 by    0 Votes
I want to tell you all a little story. The story begins, as all American dreams do, with unfettered hope and belief, but has, over time, become a nightmare from the darkest recesses of our national psyche. This is not a fairy tale, and I beg you to see yourself in our heroine; for you could find yourself in her shoes very soon. And I promise you that that is not a place you want to be. But read on, and judge the veracity of my words for yourself.

I have been in the mortgage industry for almost a decade, and have seen my share of the ugly side of lending: the foreclosures, the forgotten families, and the greedy, heartless, faceless “holder of the note” gone wild. I have experienced all of this more times than I care to admit, and have been ashamed of my industry more times than I care to count, but the borrower I wish to tell you of was the reason I broke into this business in the first place. People like her, hard-working, honest Americans, are the ones a broker like myself looks for day and night, and strives to take care of in whatever capacity we are capable of.

Why you ask? What makes her so special? There are many answers to these questions, and the easy answer would be that she perfectly fit the mold we in the business look for. She had been employed for 22 years with the same corporation, and had managed to pay every liability on time for her entire adult life. No late payments, no missed payments, and nothing at all to indicate that she would ever change. Her credit score was 780, and she had owned a home for 10 years in Miami Beach (an expensive place to buy). This showed unequivocally that she understood liability, and knew how to get things done in the lending market. In short, she was a lender’s dream come true. A loan you approve and forget about because the payments are always in on time, and so, as a lender, you just count money for 30 years. What could be better from our point of view than that? Every lender in the world will tell you the answer to that question is nothing; absolutely nothing.

This lady decided to move to Chicago to be closer to her corporate office, so she sold her home in Miami and took her dreams and possessions north to Chicago. This took place in 2006 while the housing bubble was still growing larger, and no one outside of the industry had any expectation that it may burst at any time. She did her due diligence while looking for a home in the Chicago area, and eventually settled on a brand new property in an area ripe for gentrification. Basically, she bought in an older neighborhood that was undergoing massive urban renewal projects that were projected to raise property values in her area significantly; as long as there was no unforeseen disaster looming. That is the danger of things unforeseen. They eventually come to pass, and no one is prepared to combat them.

She started with an Interest-Only Loan as at that time it made more sense to use her principal money on personal investments rather than giving it to a lender to make decisions with. Even though interest rates were high at the time, IO rates slightly higher than fixed, she was able to get the property for almost $75K less than it initially appraised for, so she was already ahead of the game. She maintained her perfect history, 0x30 on her mortgage, and everything else for that matter, but that was before the wise and powerful bankers in America decided to play 3-Card Monty with America’s future.

As the signs of the encroaching financial apocalypse began to show themselves, she attempted, through her lender, to pursue refinancing, but was told her case called for the loan modification process. The press was making a fuss about how these modifications were the way for borrowers to get the help they needed to stay afloat in the carnage that followed the bubble bursting, and as an intelligent and savvy borrower with a perfect history she expected the process to go smoothly for her. In that assumption, she would have been right if not for the new credit card laws passed that allowed the companies to raise their interest rates and reduce the line of credit available on any given card. These changes have had an enormous, unintended consequence in the lending world since loans are in large part based on debt-to-income (DTI) ratios.

Imagine this borrower has a credit line of $10K on a card with only a $2K balance, but is then targeted by the credit card company for a reduced credit line of say $2500, so her 20% balance has now become 80% without her actually doing anything irresponsible. Yet, when lenders looked at her DTI they would see that she is nearly maxed out on her card, and in this industry that is a major red flag. She understood DTI, and how it could affect her ability to qualify for extra money (even though she did nothing untoward or rash in terms of spending), but why should that hamper her from getting a reduced rate? It is asinine to ask a person to re-qualify for something they already have, or to tell them they must qualify to save money, but this is what is happening in America today. She signed no agreement stating she could not refinance in the future with the help of her lender, so all she is left with are questions. Questions that for her and the millions like her, unfortunately, have no good answers. The American Dream, for this model American, is quickly becoming the American Nightmare.

There are so many questions our borrower wants to ask, but there are no phone lines to call or government offices to visit with any answer other than, “talk to the lender”. This is just endless runaround from the lender, and more and more frustration for her and her family. How is it possible to be locked into a loan, with bankruptcy laws so much tougher, and have absolutely no way to refinance? More transparency in the industry is great, but how can our borrowers appease the credit companies interest hikes while losing equity in their property due to the housing catastrophe and still meet the necessary financial obligations they agreed to prior to this meltdown? This is a recipe for mass bankruptcy and foreclosure; two things that hurt us all in the long run.

It was March of 2009 when our borrower started the conversation about refinancing with her current mortgage company, Indy Mac, from the 7.625% IO-Loan to a 4.5% fixed rate. They explained to her that she would need to print out a new financial packet, and send it, along with all other pertinent information, in to be reviewed before they could proceed; she did just that. After an entire month had passed, she called in to check the status of her application, and was told that the servicing company, Indy Mac, was changing hands, but she would still be taken care of by the new investor, One West.
Just like that, she and thousands of other customers were being sold to the highest bidder, and after some research she discovered that One West actually only paid up to far less than full value for these notes. It gets better. One West actually had the federal government guarantee them anything lost over a certain percentage. What does this mean you ask? All the numbers are there in black and white on the internet for anyone to see; but no one looks. You do not have to be a rocket scientist to see that it would be more profitable to foreclose quickly and collect the guaranteed funds than to refinance the borrower’s note at a current market rate.

The changing of the servicer of her note, as unsettling as it was, would have been fine if not for the dramatic change in guidelines and customer service she experienced. This often happens after a change of this magnitude in any business field, but these differences were downright ridiculous. She was informed that the financial packet she had sent was no longer valid, so she would have to assemble another one before any process could begin. So, once again she followed procedure in hopes of capturing that elusive lower interest rate.

She waited and waited for a call to inform her of the status of her newest application, and finally tried calling herself to enquire; but to no avail. Her calls were treated as a joke. They repetitiously asked for the same documents, and even claimed after three business days that they had never received her fax, and that it took all that time to verify whether or not they had received her documentation. They have done this over 50 times from March of 2009 to the present day! That is preposterous, shameful, and ought to be criminal! But it gets better; or worse for our heroine.

After calling repeatedly for three months she finally got them to look at her application. They told our borrower that the check stubs submitted were out of date according to Fannie Mae guidelines (must be less than 90 days old), but when she remedied that they told our borrower that her check stubs were fraudulent. Check stubs from one of the three largest airlines in the world which she has worked with for more than 20 years by the way. They focused on some minutiae that they knew to be nothing, but she was forced to get a complete employment record from her employer to along with a Letter of Explanation (LOX) from her Human Resources department. This process has stretched into years with no results. She was even told that the best way to get help is to be late on her mortgage payments! Imagine that. It has become so bad that when she follows up on any fax or correspondence they claim she has never talked to anyone about her issue, and when she asked about recording the conversation she was told it was against their policy. I am not making this up. Every word is true and to the point, and the point is that One West and Indy Mac, Fannie Mae and the federal government are fleecing, and failing we the people.

This is dangerous and uncontrolled corporate behavior, and it cannot be allowed to continue. One West has become the poster child for what is wrong with this industry; what is wrong with America in fact. In my humble opinion (and that of thousands of other Americans…not to mention all the honest lenders in the industry), they have pulled out all the stops when it comes to delaying and deceiving their customers in order to get a government handout and make a dishonest buck. This must not be allowed to stand.

Help her. She has asked again and again, and researched every option. She can’t refinance due to not having value. She can’t modify because it’s not profitable to the lender to do so, and she can’t walk away as her state won’t allow this. Why I ask myself? Is it considered walking away if you have no more options? Why is it easier to profit from bad deals than good ones? There is no hope for this borrower that she can see. The only hope I can think of is a Federal Reserve for primary borrowers in America. By that, I mean the feds open the vaults to primary homeowners at a specific rate, and work directly with the borrowers from a federal standpoint. Cut the banks out. Let them focus on commercial deals and second homes where the rates are higher and people know what they are getting into from day one. I do not think these customers’ closing paperwork said anything about having to stay in one rate for thirty years. Do you know anyone on record in today’s environment that can say they stayed in their home for thirty years at the same rate? I don’t think that is even possible. Please share…

Here are some sites that clearly have people in the same situation, read, educate, follow and post, let’s start the revolt against One West/ Indy Mac and Fannie Mae.

Go to Google, You-tube or any engine for that matter and type class action Indy Mac, Type Complaints Indy Mac/ One West; you will see firsthand what we are all up against.
A  29th of Jan, 2011 by    0 Votes
Indymac wouldn't accept an offer that was 10, 000 less than what the balance due was. They clearly were not interested in helping us stay in our home. They wanted it to foreclose. They broke into our house, by breaking the back door and changed all the locks. The claimed they would never break into the house but I find it very interesting nothing was missing from inside.. Back door window was broken out and all locks changed, all in the same day. They are damn criminals and I can't believe our Government has allowed these banks to get away with this! Our Government is just as bad as these damn banks!!!
A  29th of Jan, 2011 by    0 Votes
Friends, I just created a petition entitled One Million Loan Revolt - Loan Modification/ Foreclosure/ Deception, because I care deeply about this very important issue.

I'm trying to collect 20000 signatures, and I could really use your help.

To read more about what I'm trying to do and to sign my petition, click here:

It'll just take a minute!

Once you're done, please ask your friends to sign the petition as well.
Grassroots movements succeed because people like you are willing to spread the word!

If I can collect 1 Million names and take them to Congress, I think we can help ourselves, numbers talk and numbers get attention.

Sign the petition and share the petition and your stories, you do not have to be late or in a bad scenario to join this action.

The concept is simple and powerful. Gather the signatures of at least one million homeowners, and present them to our Congress with the express purposes of changing bank and loan servicing company’s practices. This petition will prove the veracity of the crisis that is taking place in America today. Banks are destroying people’s good names using deceptive practices and loan modification is a sham.

Ask yourself this question: “When was the last time my bank cooperated in any way with helping me keep my home?” Or how about this one: “How many times must I fax document A before they receive it?” These issues are serious, and the banks treat us like we are “not their problem”. Well, if you think they should not be allowed to continue to hide behind regulatory loopholes while they take away everything from good people then sign this petition!

If you would like to participate in this grassroots attempt to change this country’s current loan practices in time to save our homes please fill out the following form. This is completely private and confidential. It will be used for only the practice laid out above, and will not be disseminated to any other entity for any purpose whatsoever. This information will be destroyed upon completion of the act above described.

This is an important day in America, and, for many of us, our days are numbered. The banks and servicing agencies who control our lives have abused their power for the last time. We need to send a message to Washington, and this petition is our voice! It is time for all of us to stand together to demand attention, for united we are many, and even a politician cannot ignore a million voices!

I started this movement on Wordpress and after talking to many and seeing how Change.Org makes a difference I figured it is time to get with the program. I personally have signed 4 petitions with this group in the last 60 days, so I know this is the place to be for the effort!

Thanks for the help!
N  6th of Apr, 2011 by    0 Votes
my name is amparo and i have a big problem with this bank i'm try to do a modification for more than 2 years and they didn't aprove me 3 times and now they harass me every single day, they send people to my house taken picture of me end my house lately they come to my door and he says bad words and he screaming very loud ''' this house is in forclosure'''' one he ckick my door i'm very upset, sick nerves i told my lawyer he said call the police i don't know if they are allow to do those things. please help me with some advice i don't know what to do to stop this harssament, i'm 59 years old please anwers me THANK YOU
A  20th of Feb, 2013 by    +1 Votes
I too have a mortgage loan through Indymac. I am behind as well, and have been making monthly payments. As of February 2013 Indymac informed me that they will no longer accept any payments from me unless I pay what is owed in full. I am not even in foreclosure, I just received notification of intent to foreclose. I was told by Daniel Mandick a loan escalation specialist that they would accept my payments, to now find out after sending in a payment that it will be returned to me. I don't understand how a mortgage company can get away with this? I was getting ready to mail in another payment, but what's the point? How can they change the rules to suit them as they go along, and why would you deny payments?
N  6th of Mar, 2013 by    0 Votes
To gmm21921 . . . the exact same thing happened to us on February 19, 2013. Our January payment was returned ( we mailed it on January 18 ) and we had already mailed the February payment on the 14th. That was returned as well, They are saying that we are behind 10 payments. WE ARE NOT. We have had our mortgage with them for the last 16 years. Three years ago, me and my wife both lost our jobs, but we kept making the mortgage payments. Very difficult, but we managed to do it. Now, we are both back to work and we have very good stable jobs now. When we were laid off and receiving unemployment, we sent a few payments in by money orders. Our checking account has a limited amount of overdraft, and we had always been told to "never, never, ever bounce a mortgage payment ! " . . . so when weeks were extremely tight and afraid the mortgage payment might be more than overdraft would cover, we used money orders to be sure they would get there payment. We have checked our bank statements for the last 12 months and all the payments we sent by our personal checks have cleared our bank. I have proof of this, and Indymac would know this. BUT . . . those onion skin thin carbon copy receipts of the money orders, I am having trouble locating. And I believe Indymac would know this as well. (My wife used to work at a bank, and said they always, at least the honest ones, document how the payment was made, whether by check, money order, cashiers check, etc. ) Soooooo, guess if I can't find those carbon reciepts, I'm sunk. However, I have called numerous times the last couple of weeks, never get the same person twice, and the next person I talk to has NO RECORD OF ME EVER CALLING THEM. They just tell me to forward over $8000 to Indymac in Kalamazoo. We don't live in a mansion, this is just a normal small house, and it's our home. All of this came out of nowhere. We don't have much to begin with, and I'll be darned if some rich idiot is going to yank it out from under us. I'm filing a complaint with the OCC, writing my state attorney general in NC, as well as the attorney general in California, and my congressman. If I can cause a headache for Indymac, wooohoooo!!!

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