Making Sense Of The Mortgage Crisis-How The FDIC Loss Share Program Is Hurting Homeowners In September/2009 I wrote a blog titled “Is The FDIC Killing IndyMac OneWest Bank Short Sales & Loan Modifications?”. In February/2010, the folks at TBWS used this blog to create a video that ending up going “viral”. If you watch the…
FDIC Releases YouTube Video On Their Loss Share Program On June 29, 2010, the FDIC released a video titled “Loss Sharing Explained”. The video is meant to make all of us feel “warm and fuzzy” about the loss share agreements that they currently have in place with 167 lenders. What they fail to mention in…
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…
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…
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…
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…
YET ANOTHER HEART-BREAKING INDYMAC/ONE WEST BANK STORY I ran across an article today regarding IndyMac (now One West Bank) that came out in August/2009. Basically, it was one of those “Pound your chest and tell the world how great you are” type of articles. To read the article, CLICK HERE. Yesterday, I received the following…
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…
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…
