Home Loans and Support

UPDATE-Continuing indpendent foreclosure Reviews for Customers of Indymac/OneWest Bank

Discussion in 'Mortgage Complaints' started by LovingOcwen, Feb 23, 2014.

  1. LovingOcwen

    LovingOcwen LoanSafe Member

    Continuing Reviews for Customers of OneWest
    For borrowers with mortgage loans serviced by Financial Freedom (OneWest) and IndyMac Mortgage Services (OneWest), the Independent Foreclosure Review process is nearing completion. Borrowers will receive notification of the results of their reviews beginning in the spring of 2014 and continuing through the summer of 2014. More about the continuing reviews.
    Financial Remediation Framework for the Continuing Reviews of OneWest
    For the Independent Foreclosure Reviews continuing at Financial Freedom (OneWest) and IndyMac Mortgage Services (OneWest), the consultant has used the Financial Remediation Framework to recommend remediation for identified financial injury. OneWest has prepared remediation plans based on the consultant’s recommendations, which the OCC has approved for completed reviews. The remediation framework helps ensure that similarly situated borrowers receive similar treatment. If the consultant determined that a borrower should receive financial remediation, the borrower will receive notification of that determination and the remediation directly from OneWest.

    [h=3]Under this remediation framework, I fall into several different categories. Not sure if I will get anyting at all because I recieved a wonderful modification from Ocwen. Even if I don't receive anything, my happiness lies with my mod.

    Not even sure if one can or will get compensated for more than one category. These monetary amounts is still a slap in the face to the homeowners, especially the ones that have lost their homes. Too bad medical illness doesn't qualify as one of the categories, then I would def recieve money. I developed HBP from all the stress that Indymac/Onewest put me through. Not one person in my family has HBP, my doctor definitely said it was stress related.
    [/h]
  2. LovingOcwen

    LovingOcwen LoanSafe Member

    FINALLY!!

    Remediation for Eligible OneWest Borrowers
    On March 3, 2014, remediation began for eligible borrowers whose mortgages were serviced by Financial Freedom (OneWest) and IndyMac Mortgage Services (OneWest) and were found by the Independent Foreclosure Review to have suffered errors resulting in financial harm. The first wave of remediation checks included those whose reviews have been completed. Additional checks will be sent as the independent consultant finishes the remaining reviews, which are expected to be completed in the third quarter of 2014. You did not have to request a review to receive compensation as the independent consultant also selected files to review as part of their sampling of the servicer’s portfolio. All borrowers who requested a review will receive either a letter with a remediation check or an explanation that no compensable error was found during the review.
    The consultant used the Financial Remediation Framework to recommend remediation for financial injury found in the review of mortgages serviced by Financial Freedom (OneWest) and IndyMac Mortgage Services (OneWest). OneWest has prepared remediation plans based on the consultant’s recommendations, which the OCC has approved for completed reviews. The remediation framework helps ensure that similarly situated borrowers receive similar treatment. If the consultant determined that a borrower should receive financial remediation, the borrower will receive notification of that determination and the remediation directly from OneWest. Borrowers do not give up rights to pursuing other remedies regarding their mortgages by accepting remediation through this process. Borrowers who have questions about their remediation letter from Financial Freedom (OneWest) and IndyMac Mortgage Services may call 1-800-500-6097, Monday through Friday, 8 a.m.–8 p.m. CST.

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