IndyMac Sucks Customer Reviews and Feedback

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IndyMac, a contraction of Independent National Mortgage Corporation, was an American bank based in California that failed in 2008 and was seized by the United States Federal Deposit Insurance Corporation (FDIC).

A former employee mentioned, "IndyMac is not a good company. It flopped during the housing crisis. The management had its goals and it's people was not on their list. Overall, not a good company."

Reviews

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Former Employee - Anonymous Employee says

"Bad management caused Major layoffs"

Former Employee - Assistant Vice President says

"Over worked, too many hats, underpaid, under appreciated, most promotions were given to incompetent friends of management, horrible leadership, terrible culture, high turnover."

Former Employee - Loan Counselor says

"Extremely depressing dealing with default mortgage customers. Foreclosure was the toughest to dish out. Working weekends, especially sundays, makes for a horrible day. Who wants a call during church hours? I had plenty of those (or so they say). Supervisors always acted like they were gods gift to telecommunications."

says

"Where do I begin? The environment was so toxic there - talk about watching your back! The managers there are some of the wost I've ever encountered. Please keep in mind that these managers are still there so watch out!"

says

"Management requires communication and personnel training."

IT Manager says

"Banking industry was failing, and IMB was one of the casualties. Very aggressive environment with high politics."

Former Employee - Specialist says

"Unfair. Rigid. Stressful environment. Unorganized. Hypocritical. Shows favoritism among employees."

says

"Lot of incompetence, no direction or sense of urgency"

Area Manager says

"Lack of ability to change quickly, poor communication/lack of alignment between related departments, narrow and limited approach to inventing and constructing solutions and opportunities from the existing pieces."

Senior Underwriter says

"lack of knowledgable employees, lack of skilled management, no opportunity for advancement, country club atmosphere, male driven environment, no cohesive risk strategy, sales driven production environment"

UNDERWRITER (Former Employee) says

"Amazing company to work for, i am thankful for HK Window Works they offer great life benefits an opportunity for advancement in the window cleaning industryyesyes"

National Sales Trainer (Former Employee) says

"Indymac is no longer in business. A review is not necessary. There were some great folks who I met there that were helpful in shaping my early career development."

Corporate & Project Manager (Former Employee) says

"I enjoyed working at IndyMac, however, this company collapsed during the financial crisis of the 2000s. It is no longer in Pasadena. It is now One West Bank.Out of BusinessOut of Business"

Sr. Analyst (Former Employee) says

"Not a good company. It flopped during the housing crisis. The managment had its goals and it's people was not on their list. Overall, not a good company."

TEMPORARY PLACEMENT (Former Employee) says

"Managers were too young and very unprofessional. Upper management didn't have a great handle on the manager below them. Was very clicky, with very odd clicks.payManagers were very immature 20 somethings"

Help Desk Analyst (Former Employee) says

"its never good to watch the CEO and CFO of the 4th largest bank in the USA get taken out of your building in handcuffs. which is what happened to the temp employees at Indymac Bank."

Underwriter III (Former Employee) says

"Underwrote everything from Sub-Prime to Alt-A Conventional, Government, Purchase, Refinance, HELOC mortgage loans, with a minimum of 8 complete underwrites per day, plus had to read conditions that were requested and sent in to make sure they were correct. Had to verify appraisals were underwritten properly, and titles were in order. Atmosphere was very friendly... Hardest part of the job was having to work up to 4 hours overtime on a daily basis, and was very exhausted when I went home.Made a lot of friends there.Mandatory overtime"

Senior Quality Assurance Analyst (Former Employee) says

"This company is no longer open. They were a part of the mortgage crash and ended up having to close their doors. There is really nothing more to say about this company."

VP Product Development and Marketing (Former Employee) says

"I traveled regularly to different areas to help with training, teaching and market research. I then made adjustments to our products, guidelines and marketing materials to increase revenue."

VP (Former Employee) says

"The CEO was involved in the weeds a lot of the times. He would publicly chastise people by sending emails to the entire company to complain about a question or concern an employee or customer had. He once threatened to punch an employee in the nose for smoking too closely to the building - and sent to everyone."

Loan Underwriter Level II (Former Employee) says

"Assist with fraud detection while reviewing files to analyze credit risk. Review loan documents sent in by the customer and upload in customers’ files along with reviewing compliance with internal and regulatory guidelines and request additional documents if necessary. Underwrite files to analyze credit risk to ensure that loans meet lender products and guidelines by evaluating accuracy based on the risk parameters in accordance with policy and investor guidelines. Select required conditions on each deal to be satisfied by the solicitor prior to funding."

Analyst (Former Employee) says

"I worked at IndyMac for only a few months, and was trying to get a permanent position with them. They unfortunately never gave me straight answers about the nature of why they couldn't hire me as a permanent worker and that is when I began looking at other jobs.Nice office building in nice area of PasadenaCompany not responsive to requests about job status"

Business Development Manager (Former Employee) says

"I made a very poor decision to leave my position at Delta Funding to take what was proposed to me at Indymac.Great products, sign on bonus.Did not do what they promised."

Technical Consultant (Former Employee) says

"Indymac Bank had a good idea but was unable to complete the dream."

Mortgage Banking Team Lead (Former Employee) says

"bank taken over by converseratorship by federal government"

Systems Analyst II (Former Employee) says

"I was a good place to work but this company now does not exist.Nice work placewas laid-off after working there 8 years and was 6 months pregnant"

Sub-Prime Area Sales Manager (Former Employee) says

"IndyMac was a very solid company with regards to management and products however it is very difficult as all management and loan officers are remote.Good ProductsRemote Office, Communication"

Loss Mitigation Process Management Specialist (Current Employee) says

"Overall I've had a good experience working with IndyMac Bank, now OneWest Bank. Unfortunately the road has ended due to a buyout of the company by Ocwen, which led into a huge lay-off for employees. The work environment was good, my co-workers were awesome and the management was easy-going."

Loan Counselor (Former Employee) says

"work tends to be monotonous, and very micromanaged. high turnover rate.paymicromanagment"

CSR IV- Team Leader (Current Employee) says

"A typical day at work includes working on customer elevations while being available to the floor to handle questions and elevated phone calls. I have learned a lot about the mortgage industry and what its like to work in a corporate enviroment. The hardest part of the job is not being able to assist homeowners in keeping their home in bad situations, but the best part is being able to help others.very good pay and excellent benefits"

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