So as if it wasn’t already tough enough to get your mortgage lender on board with your short sale now they are charging you to approve it! Buyers, agents, homeowners, etc. already have enough trouble on a day to day basis processing short sales but now Service Link Loss Mitigation Services a division of...
A short time ago we were going to report to you about the 100th bank failure in ’09 but as the pixels we typed out were just starting to settle the numbers just jumped again. We decided to ride it out and wait even past January (not only due to the changes we experienced...
IndyMac Mortgage Services, a division of One West Bank FSB, has a policy that has to with all forms of income the could be considered either less than stable or not completely permanent. In order to count for a type of income for a loan modification this income must be accountable into the future....
Don’t ask IndyMac about what they are doing for their own loan modifications these days because they don’t know. Prior to the Making Homes Affordable Plan (MHA – Obama Plans) and prior to any talk about the HASP/HAMP programs there were regular loan modifications. Some of these loan modifications consisted of principal capitalization, rate...
When applying for assistance every lender has different guidelines as to the time it takes to be reviewed and just the same they all have different time frames a borrower must wait prior to reapplying if a decline has been made on their previous workout attempt. When a workout option is declined (repayment plan/loan...
For those just tuning into the mortgage industry welcome to the constant roller coaster of ups and downs with the regulations and procedure changes. IndyMac mortgage servicer being no stranger to this have recently yet again change their foreclosure arrangement policies. If it is because of the One West Bank buy out or the...
Formerly known as IndyMac Bank it was purchased by the Federal government at the beginning of the mortgage meltdown and some time later then sold and purchased by One West Bank, FSB to add a loan servicing department to their portfolio back in March. Besides the name changing to IndyMac Mortgage Services, IndyMac has...