Indymac
Information
Information on Indymac short sales. Tips, tricks, etc.
Members: 400
Latest Activity: Feb 23, 2017
Indymac Contact Info
Indymac Fax number for short sale packages: (626) 583-1370
Indymac E-mail Addresses: [email protected]
Loss Mitigation Status Hotline: 877-736-5556
Negotiator's Direct Lines: 512-506-XXXX (helpful for caller ID to make sure you grab the phone)
New name-One West Bank
3rd Party Authorization Fax Number: 269-353-2474
* Indymac has their own financial statement form and authorization to release form, but they will accept generic forms as well with the same info.
* Short Sale packages MUST include the "Purchaser Eligibility Certification." If not short sale can not be approved.
* The $300 is NOT required for a short sale package.
* Indymac DOES aggressively and actively pursue foreclosure even when the short sale package is sitting on a desk waiting for their negotiator.
**Indymac will allow a new contract to be substituted when the first buyer walks.
**Indymac will allow a challenge to their BPO value and you CAN be successful.
Authorization to Release.pdf
IndyMac Financial Statement Form
IndyMac Purchaser Eligibility Statement
IndyMac Purchase Eligibility Statement 2
Indymac Short Sale Info Website *** always check here for latest forms.
Contact Group Moderator to add correct or add helpful info here
Discussion Forum
Typical % of BPO value for SS Approval
Started by Christine Reed. Last reply by Kathryn Carlson Sep 3, 2014. 2 Replies 0 Likes
HELP Need ESCALATION NAME & # FOR ONEWEST
Started by Mariana Molina. Last reply by Benjamin Rojas Oct 4, 2013. 2 Replies 0 Likes
Comment Wall
Comment
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Comment by Guy Lofts CRS on December 9, 2009 at 4:38pm
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Just got the first of 3 Indy Mac shorts approved. It took about a month.
They emailed me last night. Investors wanted seller to chip in $10,000. I replied that was not an option. Approval arrived this morning with an OK, thought I'd ask! attitude.
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Comment by Tad Navle on December 7, 2009 at 9:08am
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Starting a new package to Indy MAc
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Comment by Pattilynn Guilford on November 30, 2009 at 6:15am
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bit.ly/8SCK4J - Copy and paste. Read and forward :)
The best ever. Take the time to read it. Its precedent. And the article is peppered with humor and angst. Apologies in advance if bad language offends you....but the behavior of the banks towards homeowners should offend us more.
Judge Spinner is an American hero. Spinner for President in 2010! What I love about his decision is the fact that it is factually and legally loaded which means an uphill battle for IndyMac on appeal. They have to find fault with his decision based on law and that he acted outside of the parameters of his area of authority. Good luck! And hope IndyMac spends a fortune on appeal.
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Comment by Mayra Espinosa CDPE, HAFA, SFR on November 10, 2009 at 6:21pm
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I just closed a Short Sale deal in South San Francisco with indyMac. I cannot complain it was only ONE LOAN and I had a great negotiator and negotiator’s manager. They help me out to make it happen. I was great to closed a Short Sale with indyMac
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Comment by Stephanie Lim on July 29, 2009 at 9:14am
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Indymac usually does BPOs instead of appraisals. (An exception would definitely be an FHA loan that requires an FHA appraisal.) The BPOs tend to come in too high and Indymac comes back and counters for whatever the BPO came in at. THEY WILL ALLOW CHALLENGES. They ask for 3 comps and an explanation for why you believe it is worth less. (I got a price reduced $90k last week with a challenge and have another challenge pending now.)
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Comment by Wendy Rulnick on July 28, 2009 at 2:40am
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Stephanie, Thank you for the new group. I will refer here when doing an Indymac short sale!
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