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onewest bank: OneWest Short Sale Dept Gets Caught In A Lie-In Writing - 09/21/10 06:35 PM
OneWest Short Sale Dept Gets Caught In A Lie-In Writing
Today, we once again caught OneWest in a lie, but this time they screwed up and put it in an email to us. Let me explain what happened.
We turned in a short sale package on August 16, 2010. First, they told us that they couldn't accept the complete Arizona pre foreclosure package because we had the wrong property address. Come to find out, THEY recorded the original deed incorrectly when my client closed on the property in 2004. So, two weeks later, and several futile escalation attempts, they fixed the … (1 comments)
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onewest bank: OneWest Loss Share Agreement With FDIC And Loan Modifications- ABC15 Investigates - 02/27/10 08:46 AM
OneWest Loss Share Agreement With FDIC And Loan Modifications- ABC15 Investigates I received a phone call the other day from the local ABC affiliate in Phoenix, ABC 15. They did an "investigative report" on the effects of the FDIC loss share agreements that are currently in place with not only OneWest, but 95 other lenders as well (at last count). They interviewed both me and the homeowner (my client). I think my client's frustration shown in the interview is an example of how many homeowners feel today. To watch the story, click here. The basis of the story was … (6 comments)
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onewest bank: 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)
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onewest bank: 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)
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onewest bank: Having Trouble Getting A Loan Modification Or Short Sale Approved? You May Want To Check This Out - 02/18/10 12:04 PM
Having Trouble Getting A Loan Modification Or Short Sale Approved? You May Want To Check This Out
My blog titled "Is FDIC Killing OneWest IndyMac Short Sales?" detailed a "short sale from hell" experience that I had with OneWest Bank in September/2009. It was recently brought back to life, so to speak. The blog discussed the shared loss agreement that is currently in place with the FDIC and OneWest Bank, and how I felt the agreement puts sellers at a distinct disadvantage when negotiating with lenders that have these agreements in place. Feel free to read my FDIC Onewest IndyMac blog. … (20 comments)
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onewest bank: 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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onewest bank: Is The FDIC Killing Indymac OneWest Bank Short Sales & Loan Modifications? - 09/17/09 01:49 PM
Is The FDIC Killing Indymac OneWest Bank Short Sales & Loan Modifications?
Please Note: This is a re-post of a blog I wrote on September 17, 2009. In February/2010, the guys at Think Big Work Small decided to use this blog as the basis of their video that ended up “going viral”. The title of their video was “The IndyMac Slap In Our Face”, and I’m sure many of you saw it.
As of the re-posting of this blog, the FDIC now has 167 Loss Share Agreements in place with various lenders. At the end of 2009, there were 94. … (199 comments)
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Bob Hertzog Phoenix Short Sale Agent, Designated Broker
Phoenix,
AZ
More about me…
Summit Home Consultants
Address: 7702 E Doubletree Ranch Rd., Suite 300, Scottsdale, AZ, 85258
Office Phone: (602) 957-1583
Cell Phone: (602) 909-5994
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