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indymac: Sac Bee Article: OneWest Bank Accused Of Pushing Home Loan Borrowers Into Foreclosure - 02/21/10 10:20 AM
Sac Bee Article: OneWest Bank Accused Of Pushing Home Loan Borrowers Into Foreclosure
In an effort to keep everyone that has been following this FDIC IndyMac OneWest story apprised of new developments, I wanted to post the article that just came out in the Sacramento Bee today.  It looks like homeowners are fighting back and filing lawsuits.  To view the article, click here.
Never mind that fact that loss-share agreements are expected to cost the American Taxpayer in excess of $122 Billion.  Attorneys are now saying that this practice is unfair to borrowers trying to work with their lenders, as they provide an … (1 comments)

indymac: OneWest Bank Releases Their First Year Profit Statement $1.6 Billion- You Won't Believe This One! - 02/19/10 09:27 PM
OneWest Bank Releases Their First Year Profit Statement $1.6 Billion- You Won't Believe This One!
Kudos to Scott Reckard with the LA Times.  He wrote an article today that is sure to open some eyes.  The article, titled "OneWest Bank Profit: $1.6 Billion" does an excellent job of pointing out some very interesting observations.
According to the article, OneWest paid the FDIC $1.55 Billion for the failed IndyMac Bank, and turned a profit of $1.57 Billion in it's first year.  The article specifically addresses the shared-loss agreement that was also put in place by the FDIC, which is expected to cost … (111 comments)

indymac: Is The FDIC Broke? How Could That Be? - 09/28/09 06:16 PM
IS THE FDIC BROKE?  HOW COULD THAT BE?
All of the networks are "buzzing" today, saying that the FDIC is going to ask banks to pre-pay their FDIC Insurance Premiums for the next three years.  This will bring in roughly $15 Billion for each year that is "pre-paid".  Why are they taking such a drastic action?  They say that they need to "shore up" their FDIC Fund, due to the large amount of bank failures this year, and they don't want to borrow from the Treasury, as this would appear to be yet another "bank bail-out" in the American Taxpayer's eyes. … (70 comments)

 
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Bob Hertzog Phoenix Short Sale Agent, Designated Broker

Phoenix, AZ

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Summit Home Consultants

Address: 7702 E Doubletree Ranch Rd., Suite 300, Scottsdale, AZ, 85258

Office Phone: (602) 957-1583

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