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One West Bank


Loan Modification

Complaint Rating:  96 % with 97 votes
96% 97
Contact information:
One West Bank
United States
For the last 6 months, I have been contacting One West Bank to review my home loan for modifications. In return, One West Bank has pushed me around and expelicity rejected my request for loan modifications. At one time, the bank aseked me to send various types of documation to review my case. I did gather and submit 70-80 pages of paperworks and waited for about 60 days (they asked me for 60 days processing time), not only they did not contact me, nore they did not made me any offer. After a number phone conversation with the bank staffs, I came to this conclusion that the bank does not have any interest to modify home loans. If fact, it seems they are more interested in forcloused homes than modified loans!!! The bank and its staffs, talk and behave like organize criminals who do not underestand anything but thier own financial interest. One West Bank is dishonest, rude, unfair and un-american.
Complaint comments Comments (66) Complaint country United States Complaint category Mortgage Companies


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A  15th of Dec, 2009 by    0 Votes
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 Moditication" 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 suprise that that broker is not longer in business. Has anyone know of anyone that has had a successful mofitication with One West/IndyMac????
N  15th of Dec, 2009 by    0 Votes
WOw. EMW, your situation is EXACTLY like mine. They went so far as to offer a modification, issued the contract, and then rescinded it. This was after MONTHS of messing around with them, after I signed the contract, made the first payment under the modification, and paid the recording fees. I got a phone call saying that FHA "changed the rules" and they couldn't do that modification. I've since found out that this was a lie.

When they said it was rescinded, they offered to put me into a 4 month forebearance agreement, after which time I need to re-apply for the modification. In the mean time, I just received notice that my property is in foreclosure.

I'm going to go see a lawyer tomorrow. I should never have taken them on by myself.

A  19th of Dec, 2009 by    0 Votes

Its is tough dealing with Indymac bank / onewest bank.
Online or advertising they tell tons of stories.
If you call them they won't help mortgage custmers.
There are lot programs like HAMP, Indymac least bothers, they need your blood period.
A  25th of Jan, 2010 by    0 Votes
I thought we were alone with this horrible bank! Time after time we've tried to get assistance and to no avail. I was unemployed for about two months, I sent them our hardship letter along with all the paperwork they've requested, not once but 3 times! Every time to get the run around and to be told NO, "we can't modify your loan" They're a bunch of non caring individuals that are crooks and only care about making money off of honest people!!! Can something be done?
A  26th of Jan, 2010 by    +1 Votes
I HATE this bank! Everything you are reading is true. They lie, cheat and steal and don't give a crap about Americans. Because Michael Dell is one of the owners of OneWest Bank I'll never buy a Dell computer again. The FDIC; the government and these owners should all be jailed - they are all crooks! I voted for Obama and wish I hadn't - he's in with this bank too since it's investors all contributed heavily to his campaign. He's turnign out to be the biggest crook of them all!
N  2nd of Feb, 2010 by    0 Votes
Has anyone thought of filing a class action suit against IndyMac/One West Bank. I, too am in the same boat that all of you describe. If we get together and fight them, they won't have an option...after 2 or more people are dealt in the same regards, a class action suit is the way to go. Let me know if any of you are interested.
A  10th of Feb, 2010 by    0 Votes
I am also interested, same problem.
A  11th of Feb, 2010 by    0 Votes
This company is designed from the top down to screw the homeowner and have zero interest in helping you modify your mortgage. I am in construction and have had less than half of my normal work for the last 18 months. I tried from March til August of 2009 to get them to modify my mortgage. They gave me the runaround over all those months, claiming they never received the paperwork, then they lost the paperwork (because the second time I sent it all in Registered to prove they got it). They NEVER have contacted me back regarding anything EVER. Never seen anything like this, or heard of any company act like this. We are now currently behind 3 months in our mortgage and have not heard a word by phone or in writing about it. ???? We also had contacted our State Attorney Generals office, Fannie Mae and we contacted the Office of Thrift Supervision and no one out there is willing to help or enforce anything. Very defeating situation. I hope they like our property.
A  11th of Feb, 2010 by    0 Votes
Oh, and I definitely would participate in a lawsuit against them.
A  11th of Feb, 2010 by    0 Votes
I had read that many loan modifications were denied because it was the borrower's fault. It's the borrower they said that is too stupid to send in the required documentation. After hearing that I made sure to send in everything they needed. I even sent them my documents via registered mail. After waiting the requisite 60 days I called them to find out what their decision was. Guess what? They said I failed to turn in my paperwork and therefore I would have to start all over. I told them I had proof that my documents were delivered. That fact did not matter to them. I faxed in my paperwork and once again heard nothing. The only contact I have with them is when I get those irritating calls on Saturday morning that seem to originate from India. Those callers know nothing about my situation: how I've played by their rules, how I've given them what they asked for, waited patiently. e.t.c. They are Automatons with but one task - to collect from me what I owe them. My income has tumbled due to the recession and along with it so has my credit score. I'v never been in a position like this. I feel angry, embarrassed and powerless all at the same time.
A  27th of Feb, 2010 by    0 Votes
One West stands to make more money if they foreclose on your property. They purchased your home for 70 cents on the dollar when Indy Mac went down. With a guaranty from the FDIC that if they had to foreclose that they would be reimbursed up to 93% of the original loan value. There was a gentleman on utube that had discovered this and put out a short video. I have been trying to find it again and have been unable to. They will profit much more by you losing your home no matter how long it takes. It is all about the money, as usual.
N  1st of Mar, 2010 by    0 Votes
I am so interested, they are thiefs and liers Ived been trying to modify since 2008 when my credit was excellent and all got was excuses and was denied, nd at that time I had equity .My story is long, but they screwed me and now I am under forclusure status. I need an attorney
A  25th of Mar, 2010 by    0 Votes
I of course have the same problem. I have been trying since November of 2008 to get my loan modified and its been one excuse after another. I finely was approved for a trial modification, but when completed they told me i didn't qualify because my income changed. I would like to know how and when that happened both myself and my wife are salaried employees our income has not changed in years do to the economy. As long as the FDIC is going to bail One West Bank out they will continue to take away homes and make a profit doing so. Clearly the banks and government are together on this. Its business as usual in Washington, take all you can from the little guy so you have Billions to leave you grand kids so they can follow in your footsteps.

Robert of California
A  2nd of Apr, 2010 by    0 Votes
We received a construction loan from IndyMac in the summer of 2006 to build an estimated $1.5 Million home in California 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 between 8 and 9% or (2) a fully amortized 1 month Libor adjustable loan. Both of those two options were not sustainable and essentially setting us up for eventual failure.

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. That being said we don't know if IndyMac would have given us more affordable options, this is just what a representative said.

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. IndyMac/One West has robbed us due to them removing all the many loan options that most borrowers have when we rolled from a construction to permanent loan.


EMAIL: bothofus@tatark.com
A  5th of Apr, 2010 by    0 Votes

I also received a construction loan from Indymac Bank in 2006 and like you when the house was finished the bank had already collapsed. Now they have no loan programs so they can not even convert me into a permanent loan. They are only willing to give me a three year ballon, 1 month libor with an adjustable rate. Isn't this the reason the banks needed the bail out money in the first place? I make great money and can afford to pay for my home but this bank won't even look at my financials. Please let me know what happens with your house and your case. Also please email me at dcarozza@centurywestbmw.com with your contact info maybe we can help each other
A  7th of Apr, 2010 by    0 Votes
I submitted loan mod docs 90 days ago with no action so far on their end. They keep saying it is under review. Now they are saying I am late on paying my property tax. They are going by old property tax bills that have long since been adjusted by my county tax collector to a lower amount. I have paid every penny of my tax on time and can prove it. I have faxed them many times the proof and they keep sending me threating letters. They will not let me speak to their tax department to verify that they have read my proof of payment. I will try one more time tomorrow to get through to someone that can fix their incorrect paperwork or I will have to hire my attorney to send a letter to make sure they read the corrected tax docs.

I also was forced into a ARM loan after construction. I am stuck now not being able to refinance becasue the property no longer has much equity left in it because of the down turn in the economy. Plus with a jumbo loan, no one will help me and I no lnger qualify becasue of the strict guidlines.

I would be interested in helping who I can with this. I have a good set of attorneys and good contacts. Maybe we can make a difference as a whole instead of just one.

THey are supposed t0 be helping us with the loan modifications. I hate to see innocent people not get the aid, when it is sitting there ready to be given by the government that we pay taxes to. I am so tired of corruption in our system, especially when it means honest hard working americans losing their most valuable asset, the home. The feeling of hopelessness is felt by thousands right now.

A  18th of Apr, 2010 by    0 Votes
I have mixed feelings about reading all these complaints. I was hoping that I was the only one having this problem with One West/Indymac Band. Now that I have read all these responses, I feel better that I am not the only one, but have lost all hope that this will ever be resolved. We have been in our house for 18 years and have never been late or missed a payment, but with the down turn in the economy my husbands' income has been reduced in 1/2 for the last 18 months and he is the major money contributor (my income is only supplementary). We have been trying to modify our mortgage since April 2009. We were offered a $900 a month lower payment in July (Which reduced our payment by 1/4) We thought this was pretty good and signed the paperwork. The next month they said we didn't make enough money to qualify for the new payment of $2800 even though we had been paying them a partial monthly payment of $3000 each month. Made no sense to us. In Sept. we received a packet for the HAMP mortgage trial program. The trial payment was only 45% of the original payment amount, was supposed to be made for 3 months and at the end, our final would be very close to this amount. During the 3 months trial all we got was letter after letter about them trying to reach us to discuss payment options to avoid foreclosure. The trial period was supposed to stop that. I made phone calls every month. Finally after 6 month in our 3 month trial, we received a letter saying we had been approved for our modification and our new payment would be $2990. What?? How is that close to the $1660 we had been paying in the trial amount? And how is it possible that we can now be qualified to make this payment, when we didn't make enough to qualify for a payment almost $200 less 8 months prior and our income hasn't changed?? Of course calling and asking questions got me nowhere. We are now waiting for the next hammer to drop : (
N  20th of May, 2010 by    0 Votes
I Have just made my 3rd trial preiod payment oc 1302 as agreed in the loan modification that I started in May of 09. I just spoke to a representitive last week to ensure my payments were posted and were applied to the modification program. I was assured that tis was done. Today I received my final modification papers. I was excited until I read the documents. The monthly payment I was trying to modify was 2400 a month. My trial period payment was 1302 a month, this was great since my income is at a 10 year low of 4200 a month. I received this paper work on th 19th of May and must accept and return this new loan modifaction document by the 25th of the same month. 6 days to sign and ensure they receive it. Receive it not send it, so that leaves 3 days to receive the letter, read and understand it, sign it and put it in the mail so they get it back on the 25th. well, in reading this new leagle document, My loan modificatin was a success only for One West Bank, NOT ME! They now wat 3176.55 dollars a month new payment! This is more then the payment i was trying to modify of 2400.00 a month. Thay claim I earn 7815.00 a month and therefore the new payment is based on this. Where do they come up with this, the IRS knows how much I earn and so should they, A lousey 4200 a month. They are scamming everyone to earn money for themselves. I thought that OUR tax dollars bailed out this IndyMac bank from failure and then was sold to One West Bank. Were we refunded our tax bail out dollars, no. I agree with the person several comments above that we should all ban together and file a class action suite againt One West bank, the former indy Mac bank, the federal goverment and the president of the united states as well as we are all being screwed while they continue to make money. We will all be homeless soon. Mt advice for homeowners in my situation, do what I plan to do, while you RE STILL ON RECORD AS BEING THE LEGAL OWNER, REMOVE ALL OF THE CARPET, CABINETRY, ELECTRICAL OUTLETS, COPPER PIPING, APPLIANCES, FIXTURES ETC. As long as you are the owner these are your property. Hell, take the light bulbs as well. Until it goes to auction and sold, you own these items and ther is nothing anyone can do about it. Once sold at auction though, take nothing as that would not be theft and you can be charged. The furnice, air, systems are also a great thig to take, anything that you can sell without destroying the actual structure is you rightful property so take it while you can. One West Bank is stealing from you, WAKE UP LETS SUE THESE [censor], I know that I am hiring an attorney, this is criminal on so many aspects of the bank, the federal Government, etc.
A  24th of Jun, 2010 by    0 Votes
We also opened a construction loan in 2007 and when we finished on time and on budget in 2008 we were only offered a crappy loan. We have been trying since May 2009 for a modification and we get the same run around..."send in updated paystubs" or "it is still under review". C'mon people can you not read english? How hard is it to put on paper our numbers, the numbers that are necesary to qualify, compare and say yes or no? Then if you say no show me that paper to prove the reason for denial!!! This bank is ruining my life! We did not overbuild beyond our means, we only built so that my mother could come live with us. We could afford our principle if they slightly (.5 to 1%) adjust the interest rate to make the monthly payment reasonable and it would be nice to give us the security of a 30 year fixed mortgage. I feel like any minute they are going to come take it from me, my children and my poor mother!!! I have also complained to my congressman Garamendi and the Office of Thrift supervision. I feel the way we were rolled into a permanent loan was predatory and I am more than willing to participate in a class action law suit against this company in CA. Let me know when you find a good lawyer with the guts to take OneWest on!
A  4th of Jul, 2010 by    0 Votes
sent in all modidication paperwork, uploaeded, faxed and overnighted, still asking for the same documents over and over, paystubs and bank statements. Honest to God, called on 6/30 or 7/1 to check to ensure they received my re-uploaded documents, customer service said yes, and they they would release for review. Checked online modification account night on 7/2, new message saying documents rejected please send pay stubs, 4506T and now my bank statements were coded as missing...how the #@$ did you lose documents from an uploaded file that you claimed you just had a day before. I believe the custoemr service reps are told to lie, have a script to work off of. And most irritating is that my second mortgage company won't do anything modification wise until my first mortgage company responds back to whethere I qualify for a modication...so I am screwed. All mods that are supposed to be done under AHMP should be done by an independant agency...not the banks themselves...cause this is BS

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