So I’m preparing for a foreclosure trial that involves Indymac as the originator of the loan and they are also the Plaintiff named in the complaint. Because the originator of the loan was the one suing, I was thinking we didn’t have many issues to work with. Then a colleague shared with me the agreement attached to this email.
The attached agreement is the Asset Purchase Agreement executed between the FDIC and OneWest Bank. I’m still mulling over the details, but it this agreement is in fact the binding agreement, I don’t see how Indymac is able to continue with their pursuit of foreclosure cases anywhere across the country.
And yet in my case and in many others, the foreclosure mills just seem to be chugging right keeping Indymac as the Plaintiff instead of substituting OneWest as the Plaintiff, as the agreement apparently requires.
I will certainly update as I find more information, but I’m curious what others have found regarding this very interesting issue. Read on and please share any info and insights.
