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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 Randy Randolph on September 28, 2011 at 4:50pm
LOL - sorry, I'm not sure I am the selling broker and not the listing broker, so I am not allowed to deal with the banks/investors. Washington State Law :(
Comment by Kevin - Greenville, SC on September 28, 2011 at 4:48pm

Randy,

 

Sorry, I meant - Fannie, Freddie, FHA, etc.

Comment by Randy Randolph on September 28, 2011 at 4:43pm
Hey Kevin - It's a 1st lien - we have it all approved, just the timing isn't going to work with my overseas buyer
Comment by Kevin - Greenville, SC on September 28, 2011 at 4:40pm

Randy,

 

What type of loan is Indy servicing here?

Comment by Randy Randolph on September 28, 2011 at 4:39pm
Thanks for the info Kylee :) I have already put in a request and will talk to the supervisor tomorrow morning.
Comment by Kylee Roe on September 28, 2011 at 4:34pm

Randy, yes, my negotiator made arrangements for us and postponed and was fine. Your timeline may be cutting it a little close, they do have strict rules about  postponement, but seems to me you were in contract in plenty of time. Talk to your negotiator or find a way to go above his/her head.Unless their guidelines have changed in 30 days, you should be able to get a postponement.

 

Comment by Randy Randolph on September 28, 2011 at 4:22pm

So we just got an approval from IndyMac with a closing date of OCT 16 (Sunday - LOL)  Problem is that my buyer has been assigned to work in China until March. I cannot figure out a way to get everything completed in 2.5 weeks.  He has a daughter here that he will give power of attorney to, but we still wont be able to get a loan done that quickly.

 

This property is schedule to go to foreclosure AUCTION on Oct 20.

 

Anyone have luck getting auctions postponed with IndyMac once we have a approved short sale letter? 

Comment by JulieAnn DeCeunynck on September 15, 2011 at 5:21am

Thank you Michael, our letter says the same thing. After the sellers took the letter to the attorney's office they were advised to have one word added if possible...."If all conditions are followed the property/borrowers will be released from this lien...Attorney wants to add after lien/note.   working on this now and feel  somewhat hopeful!

thanks guys!

Comment by Michael Schneider on September 15, 2011 at 5:16am

@JulieAnn  I looked the OWB demand letters that I have.  The language in mine is:

OWB will report a Special Comment Code of “AU: Account paid in full for less than the full balance”

Which isn't quite as strong as a typical BofA/Wells/Fannie/Freddie waiver of deficiency.

"Account paid in full" is a waiver to me, but I'd prefer it to say:  "...is paid-in-full ...", not "Will reports as...."

Comment by JulieAnn DeCeunynck on September 15, 2011 at 5:13am
Thank you Jeff and Ben! On the phone now and willing to fight :)   thanks again!
 

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