IndyMac Bank

I reviewed home mortgage lending banks to do my home refinance through LendingTree.com (see my other review). I had short email correspondence with some of the lenders and phone conversations with IndyMac Bank. I was satisfied with the conversation and...

This review is for their high interest savings accounts, not home lending (only category available) Indy Mac Bank proves to be somewhat of a hassle and less than impressive. First off, I started out using ING (ingdirect.com) for my interest earning ...

Indymac is a serious mortgage lender that is serious about making loans using the web to borrowers around the country, and you can get a competitive loan. They share a lot of the same problems as the rest of the mortgage industry, but they do some ...

My story begins probably around the 2nd wk of July. I found Indymac through the Costco-Lending Tree ...

The worst experience of my life! Started out on Lending Tree.com for mortgage loan, got several o ...

IndyMac Bank was my first and second mortgage lender for three months, the minimum time period after which you can refinance after close of escrow.

This was my experience: IndyMac Bank delayed funding the purchase escrow, incorrectly credited my second mortgage payment to my first mortgage account, refused to rectify their mistakes, hounded me day and night via phone for the payment made, refused to provide an itemized payoff demand (either written or verbal) during the refinance, provided account statements that my loan broker could not even decipher, sent me IndyMac Bank loan advertising via certified mail... get the picture!!!

They were pleasant on the phone; they closed the loan ahead of time. They returned my telephone calls and emails quickly throughout the process. I was disappointed by my appraisal- but this is not a fault of Indymac. I would refer them to a friend and I was very happy with the service and the competitive rates. The best part was the very quick approval process and the closing costs were also priced right. It was nice not to wait around for days wondering what was happening with your loan.

IndyMac Bank is the worst. I have a home loan with this company, and can't wait to refinance with someone else. I would not recommend this bank to anyone. I just recently had two mortgage payments taken out of my checking account. This was a mistake on their part, but they danced around their being responsible. This wasn't the first time this happened so I was prepared for the bull. My checking account is now overdrawn. I have hundreds of dollars in fees from other payments that were returned. And it is December 19th. Happy Holidays from Indymac (right!)

Indymac Bank is the WORST banking experience I have ever had with a bank. I can't seen to find a way to withdraw my funds. The money was taken out of my account but I never received it. I have made MANY calls to their customer service. If you call after hours the service has been outsourced to "India". The agents are very pleasant but my requests get thoroughly confused. When I asked to speak to a supervisor, I received a recording that none were available and I was cut off. I had to file a complaint with the Office of Thrift Supervision in an effort to withdraw my funds. STAY AWAY from Indymac.
Finally after almost one month and all my efforts I received a check for my withdrawal and interest.

I can't wait to get out of this loan. I was shopping around in order to refinance my home. We have 2 loans with them. One if a fixed rate and the second loan is a line of equity adjustable rate. When we asked for the payoff amount, and other inquiries, etc.., Indymac froze my account. Secondly, they charge us $500 for the payoff letter. What! This is ridiculous. I wrote a letter to the Corporate office to have then remove the $500 fee and asked for an explanation why my account was frozen when all I'm doing is shopping around. The good thing is they did remove the $500 fee but unfortunately, we were unable to get out of Indymac loan due to their high pre-payment penalty. We are definately waiting for our pre-payment expiration date. Oh...and one last thing. They also charge you for every year for the line of equity card even if you've never used it. Indymac are a bunch of thieves so if I were you stay away. I will never recommend this lender to anyone.

IndyMac Bank is a very aggressive (in a good way) home lending institution. The offer great rates and are very flexible. They have a great relationship with lending tree and have been rated among the top 10 lending companies. Their customer service over the phone is fairly good; they do have a friendly and courteous staff. However their website is not completely user friendly. It is far from impossible to navigate, but it is definitely not the easiest. The basics such as payment are fairly easy but trying to find other pertinent information to your account, even things such as payment history is hard to find. Their process for returns is also very extensive, if an over payment is made, they’ll issue a paper check, but it takes between 30 and 90 days to receive the check back in the mail. Quite an extensive period of time if you ask me. Overall, this is a good standing, reputable company that I would recommend, definitely not my first but not my last either.

I currently have a construction loan with Indymac and will miss the deadline by a week. I had one year to build the house and barely missed it. They will only extend my loan one month with a .5% of the total loan "fee". This is a ripoff and I regret ever using them. My recommendation is to stay away

IndyMac Bank online offers competitive savings and CD rates. In fact their Super Savings Account has interest rates that are excellent. Signing up for the various accounts online is easy.
BUT! Don't try to even think about CLOSING an account. I've just spent nearly a week, online, US mail, and telephone attempting to close my accounts. No matter how you attempt to contact IndyMac, you always wind up having to talk to someone in India (who by the way is hard to understand and has a hard time understanding you).
They give you their prepared script about why you shouldn't be quitting IndyMac since they have such good rates and proceed to not understand the very simple fact that you just want to close your account and you want your own money back.
For this reason I would rate the online IndyMac poor and their customer "service" terrible.

Out of my 12 mortages, why do I only have problems with Indymac?  They bought my loan from someone else so I had no say.  They keep screwing up my escrow account.  They say they have no proof of insurance, so I fax it to them and I receive the confermation letter.  Two months later, same thing.  Every two months I get this letter.  They want to make money by switching me to their insurance company.  Each time they switch back and forth, I think they're keeping some.  My yearly statement says that I paid over $4500 in insurance this year.  (Hazard, Flood, and Misc.)  Normal hazard insurance here is $500.  Flood should be $400.  I don't know what "Misc" is.  This is getting old.

Indymac Bank is a a bunch of lying and ruthless predators that didn't bother to tell me that they were going to sell my home all the while I was trying to get loan modified and learned of the sale of my home when I came home from work to a 3day quit  notice on my front door, I could have stopped the sale of my home had they notified me of the sale date &  location of sale, I had equity in the house, and now I will be homeless, I hope these thieves get what they deserve for being so devious and ruthless .  They are not trying to help anyone and they do not feel they need to abide by state laws. I sure do hope no one else has their home stolen from them while trusting these liars, and sneaking bastards.  I hope all of those involved in destroying my life and Im sure others lives, are held accountable someday.   Shame on you at Indymac Bank! PREDATORS!!