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]]> By: The Great Highway Robbery Continues: How The FDIC Is Legally Transferring Billions In Taxpayer Money To Hedge Funds « Dinsfla Mortgage Foreclosure Fraud Blog http://iamfacingforeclosure.com/blog/2009/12/01/anatomy-of-a-government-abetteded-fraud-why-indymaconewest-always-forecloses/comment-page-1/#comment-373 The Great Highway Robbery Continues: How The FDIC Is Legally Transferring Billions In Taxpayer Money To Hedge Funds « Dinsfla Mortgage Foreclosure Fraud Blog Fri, 12 Mar 2010 22:40:58 +0000 http://iamfacingforeclosure.com/blog/?p=154#comment-373 [...] agreement. Click Here for actual consumer story. Click Here for other consumer insights. Why OneWest Always Forecloses FDIC Pays Bank to Foreclose The Great Highway [...] [...] agreement. Click Here for actual consumer story. Click Here for other consumer insights. Why OneWest Always Forecloses FDIC Pays Bank to Foreclose The Great Highway [...]

]]> By: legisman http://iamfacingforeclosure.com/blog/2009/12/01/anatomy-of-a-government-abetteded-fraud-why-indymaconewest-always-forecloses/comment-page-1/#comment-365 legisman Thu, 18 Feb 2010 14:24:20 +0000 http://iamfacingforeclosure.com/blog/?p=154#comment-365 First why attorneys would be calling a non-attorney is beyond me but so be it. Secondly, you're wrong, what you've stated is not remotely credible. The FDIC is NOT paying OneWest a bonus if they avoid loan modification. Despite your allegations and that of the recently circulated internet video you quote from. The FDIC agreement with OneWest Bank does not provide an financial incentive to encourage short sale rather than the modification of delinquent home loans. In fact, OneWest Bank is contractually required to participate in the Home Affordable Modification Program (HAMP) by it loss share agreement with the FDIC. The FDIC OneWest Bank Factsheet (http://www.fdic.gov/news/news/press/2010/onewest_lossshareb.html) sets out details of the purchase, by OneWest Bank, of IndyMac F.S.B. With respect to HAMP loan modifications, OneWest is contractually required to do the following: 1. follow HAMP procedures to develop affordable loan modification terms for the borrower; 2. determine whether the recovery on a modified loan is higher than the recovery from a short sale or foreclosure; 3. modify the loan using HAMP guidelines if the recovery of a modification is higher than the recovery of a short sale or foreclosure; 4. loss share coverage cannot be factored into any recovery calculation for loan modification, short sale or foreclosure. Only 7% of the loans OneWest Bank is servicing are owned by OneWest and are part of the loss share agreement with FDIC.Other institutions own the remaining 93% of loans OneWest services. Moreover, the FDIC states that it has not yet made a single loss share payment to OneWest. Any attorney asking you for advice should have his head examined! First why attorneys would be calling a non-attorney is beyond me but so be it.

Secondly, you’re wrong, what you’ve stated is not remotely credible.

The FDIC is NOT paying OneWest a bonus if they avoid loan modification. Despite your allegations and that of the recently circulated internet video you quote from. The FDIC agreement with OneWest Bank does not provide an financial incentive to encourage short sale rather than the modification of delinquent home loans. In fact, OneWest Bank is contractually required to participate in the Home Affordable Modification Program (HAMP) by it loss share agreement with the FDIC.

The FDIC OneWest Bank Factsheet (http://www.fdic.gov/news/news/press/2010/onewest_lossshareb.html) sets out details of the purchase, by OneWest Bank, of IndyMac F.S.B.

With respect to HAMP loan modifications, OneWest is contractually required to do the following:

1. follow HAMP procedures to develop affordable loan modification terms for the borrower; 2. determine whether the recovery on a modified loan is higher than the recovery from a short sale or foreclosure; 3. modify the loan using HAMP guidelines if the recovery of a modification is higher than the recovery of a short sale or foreclosure; 4. loss share coverage cannot be factored into any recovery calculation for loan modification, short sale or foreclosure.

Only 7% of the loans OneWest Bank is servicing are owned by OneWest and are part of the loss share agreement with FDIC.Other institutions own the remaining 93% of loans OneWest services.

Moreover, the FDIC states that it has not yet made a single loss share payment to OneWest.

Any attorney asking you for advice should have his head examined!

]]> By: OneWest Bank’s Sweetheart Deal with FDIC and Indymac http://iamfacingforeclosure.com/blog/2009/12/01/anatomy-of-a-government-abetteded-fraud-why-indymaconewest-always-forecloses/comment-page-1/#comment-364 OneWest Bank’s Sweetheart Deal with FDIC and Indymac Wed, 17 Feb 2010 17:09:46 +0000 http://iamfacingforeclosure.com/blog/?p=154#comment-364 [...] agreement. Click Here for actual consumer story. Click Here for other consumer insights. Why OneWest Always Forecloses FDIC Pays Bank to Foreclose The Great Highway [...] [...] agreement. Click Here for actual consumer story. Click Here for other consumer insights. Why OneWest Always Forecloses FDIC Pays Bank to Foreclose The Great Highway [...]

]]> By: Anatomy of a Government-Abetted Fraud: Why Indymac/OneWest Always Forecloses « Yesterday - Today - Tomorrow http://iamfacingforeclosure.com/blog/2009/12/01/anatomy-of-a-government-abetteded-fraud-why-indymaconewest-always-forecloses/comment-page-1/#comment-362 Anatomy of a Government-Abetted Fraud: Why Indymac/OneWest Always Forecloses « Yesterday - Today - Tomorrow Tue, 16 Feb 2010 17:31:37 +0000 http://iamfacingforeclosure.com/blog/?p=154#comment-362 [...] OneWest Bank was created on Mar 19, 2009 from the assets of Indymac Bank. It was created solely for the purpose of absorbing Indymac Bank. The principle owners of OneWest Bank include Michael Dell and George Soros. (George was a major supporter of Barack Obama and is also notorious for knocking the UK out of the Euro Exchange Rate Mechanism in 1992 by shorting the Pound).  (MORE) [...] [...] OneWest Bank was created on Mar 19, 2009 from the assets of Indymac Bank. It was created solely for the purpose of absorbing Indymac Bank. The principle owners of OneWest Bank include Michael Dell and George Soros. (George was a major supporter of Barack Obama and is also notorious for knocking the UK out of the Euro Exchange Rate Mechanism in 1992 by shorting the Pound).  (MORE) [...]

]]> By: Confusion Runs Rampant No Thanks to the Feds | usa-relocate.com http://iamfacingforeclosure.com/blog/2009/12/01/anatomy-of-a-government-abetteded-fraud-why-indymaconewest-always-forecloses/comment-page-1/#comment-361 Confusion Runs Rampant No Thanks to the Feds | usa-relocate.com Mon, 15 Feb 2010 19:05:28 +0000 http://iamfacingforeclosure.com/blog/?p=154#comment-361 [...] this blog an explanation of the sharing [...] [...] this blog an explanation of the sharing [...]

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