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Indymac

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 Short Sale Affadavit

IndyMac Financial Statement Form

IndyMac Short Sale Package

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

OneWest/IndyMac - ESCALATION NUMBERS?

Started by Chris McGee Nov 25, 2014. 0 Replies

Typical % of BPO value for SS Approval

Started by Christine Reed. Last reply by Kathryn Carlson Sep 3, 2014. 2 Replies

HELP Need ESCALATION NAME & # FOR ONEWEST

Started by Mariana Molina. Last reply by Benjamin Rojas Oct 4, 2013. 2 Replies

Comment Wall

Comment

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Comment by Juan Reyes on October 15, 2012 at 10:40am

I received an approval 2 weeks ago and the entire 16 page package has to be completed including the purchaser eligibility cert otherwise the file will not move forward.

Comment by Tara Samney on October 15, 2012 at 10:28am

As to Purchaser Eligibility Certification - IndyMac won't let it proceed without it...at least not in my short sale. It needs to be notarized too.

Comment by Tara Samney on October 15, 2012 at 10:15am

Ditto to what Barbara wrote. Forms are very different now, including financial worksheets, from what is posted. Updated forms can be found at IndyMac website.

Comment by Deidre St. Romain on September 18, 2012 at 6:15am

Barbara:  I also read this and agree.  I am not going to have it filled out.  If they do require it I will post it here so everyone can keep informed.  Anyone out there know differently at this point??

Comment by Barbara Thomas on September 15, 2012 at 1:15pm

I just clicked on the link above ("Indymac Short Sale Info Website").  Phone numbers all still appear to be okay, however, the required documentation has changed.  And it does look lik the "Indymac Purchaser Eligibility Statement" has changed quite a bit.  I would advise any Listing Agent pursuing an IndyMac short sale to follow the link.

Comment by Barbara Thomas on September 15, 2012 at 12:27pm

I have re-read the "Purchaser Eligibility Certification" several times.  It references the ability to "purchase assets of failed financial institutions ..."  A short sale property is not an asset of the bank.  It is still owned by the homeowner.  I don't understand why this document is relevant in a short sale??  Does anyone have insight to share?

Comment by Suzanne Kensington on July 27, 2012 at 6:17am

Has anyone had problems with submitting a short sale to Indymac that is current?  I just submitted one that will be delinquent starting August 1st.  They say they are cancelling and won't look at it until it is at least 2 months delinquent.  I have successfully closed short sales that were current with other lenders.  Any thoughts?

Comment by Ron Margolis, RA on July 9, 2012 at 5:19pm

Does anyone have experience with the INdy Mac PEC (purchaser eligibility certification). It indicates that the buyer cannot receive compensation if the buyer is an agent. In my situation, the buyer and her husband are buying a piece of land and the buyer is a licensed agent. Can she still buy the property? Does that mean INdymac will be paying 2.5% rather than 5%. Appreciate any responses from SHort Sale Superstars. MAHALO

Comment by Kimberly Moody on April 20, 2012 at 2:02am

Hey guys...SO glad that I found this site!  So...my husband and I put an offer on an IndyMac short sale property back in early February and have not really heard anything.  The property was listed at $187,000...we offered $165,00 and we were countered with $183,000...which we accepted.  I assumed that if the we agreed, then that meant that IndyMac needed that amount.  The only thing we have heard from our agent was that IndyMac requested an appraisal on the property, is this normal?  Yesterday, we were asked to sign a purchaser elegibility certificate???  Does this mean that we are getting closer to securing a closing date?  I feel so out of the loop??  What have you guys seen to be the average timeframe on closing with Indy??  HELP :)

 

Comment by Sharona Byrnes on April 10, 2012 at 9:05am

Hi Everyone,

Need some help! We submitted an offer to Indymac on a short sale back in January. They came back with a counteroffer at $397k. After a couple of weeks of back and forth with the buyers, the buyers came back at $359K which we resubmitted to Indymac. Indymac had closed the file, so we had to go through some steps to resubmit. They just came back with the SAME $397K counteroffer. This is about $30K higher than market value on the property. The BPO will be 90 days old on April 17th. Does anyone have any suggestions on moving this forward? Buyers won't go any higher.

 

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