I also have issues with this bank, funny thing is I am a Mortgage Underwriter, employed by one of the largest mortgage Insurance company's in the country. I purchased a home 2 years ago. I put down 16%. Mortgage Insurance is based on your loan to value. 20% down, and there is no MI.the more you put down, the lower the mortgage insurance. My Mortgage Insurance should have been just under 80.00 per month. My first mortgage statement came, the mortgage insurance premium was 200.00 per month. I immediately called, got no where, they told me I didn't understand how MI works! I explained look at my loan application I am a MI mortgage underwriter, and understand more than you do. They said I signed closing docs agreeing to that, refused to help, refused to admit they were wrong. Even though Mortgage Insurance rates are on a chart and they were collecting way to much. the person I spoke with was ignorant. I ask for proof I initialed a page that had a 200.00 MI fee per month and eventually they sent one, it was not the one I signed. Because my company originated my loan I had the one I really signed. Confronted them again, they denied and said I didn't have my whole loan package. they have refused to help. I have tried to fight them but they drag it out and argue with you so much you could only fight the if you had 10 hours a day to do so. The stupid person answering the phone (several different ones) kept saying I didn't know how MTA arms and mortgage insurance work. I actually was cleared by Indymac to underwrite loans and sell them to them based on their guidelines. Told them I was the wrong person to accuse of not knowing how anything in the mortgage industry works. Owned a mortgage company for years, Have a special endorsement to underwrite FHA loans, and have worked for the two largest Mortgage Insurance company's there are. I have gotten solicitations from them to refi, he APR was lower twice than the note rate. This is really not possible, Unless they paid all your cost and gave you closing cost back, which is illegal. When I called to make them accountable for that, the people on the phone can't explain APR, they can only tell me their company knows how to do it and I don't. I do that all day and have for over 20 years. if this predatory lender goes out of business or takes a loss short selling its loans, it couldn't bring me more satisfaction. their incompetence and unwillingness to work out or correct their errors have hurt MANY people. to the person who posted the original complaint. Look at a loan called an FHA secure, might help you. Yes there is mortgage insurance. But the rate is going to be better than you will get for the next 4 years if you let the home go into foreclosure, you will pay if you want another home and have a foreclosure, you will probably pay excessive fees and interest because loan officers who do loans for people who have had a foreclosure for what ever reason seem much of the time to charge more for getting you a less than perfect credit loan. A FHA secure is some area's will go to a very high loan amount for a little while so consumers can get out of these loans. If I can help you I would be happy to, post a response and let me know.

TAKE ACTION on misinformation on your Indymac Funds
Among the many, I was told that if I switched my MM for a CD with an ITF account, I'd be insured up to $200, 000 by an Indymac bank teller. So, I sent an additional amount over the insured $100, 000 believing the banker was telling the truth. Now I'm paying for my naivete.
Today I was told my an FDIC agent that they are hearing many similar stories.
If you have been misinformed you need to report it to: [email protected] or call them at 877-275-3342 Option 113.
If enough of us that have been misled by the bank, report it. we may be able to do something besides feel helpless and depressed. Let's try and not let them take our spirit, they already have our savings!

I am one of the thousands of depositors that had uninsured funds at Indymac Bank. I had two CD’s with the bank I was assured that my accounts were properly insured by representatives at Indymac. One account was held as an individual insured by the FDIC for 100k and the other account was held as a trust with two beneficiaries (ITF’s) and insured by the FDIC for 200k. I have been informed by the FDIC that one of my beneficiaries on my account is not “qualified” and I have uninsured losses that exceeds 105k. I am not the only depositor that was ill-advised, misinformed, or lied to by Indymac Bank and the government needs to step-up and help people that were fraudulently induced to deposit more than FDIC limits by Indymac.

With the economy we all are faced with this institution constantly has been hassling me for a late payment, when they don't pay there debt on time.

When refunding for escrow account overpayment they on 3 occasions sent the wrong amount, who does there record keeping?

I like all of you fill the hands of the oil companies sliding into my pocket daily for my commute to work, and even though I have called loan resolution, and customer service to inform them of the payments status the next day they call 3-4 times, I hate to see the economy hit the wall like this but enjoyed the news about them crashing.

IndyMac Mortgage purchased my loan from another company. After about a year into my "3 year -fixed" adjustable rate loan, my rate adjusted. 3 months later, it adjusted again. As I put the house on the market, I was told I had to pay $300 just to find out if they would accept a short sale and then it could take weeks to find out. My buyer was eager to purchase a home and refused to deal with IndyMac and their crazy terms therefore, I lost the sale and ultimately the home. Before walking away, I again received another notice from them saying my rate was to adjust again. To this day, I still cannot figure out how a 3 year fixed rate on an ARM can adjust 3 times in 1 year. Put me in for any law suits that come up...they are getting what they deserve from the Feds. Also, my home has now been vandalized as they have yet to secure it since the foreclosure. It's been 7 months already. Glad to see them loose in the end.