OneWest Sued: Indymac Bank F.S.B. v. Yano-Horoski
From the Wall Street Journal:
The bank has come under criticism for its loan-modification practices. In a decision issued Nov. 19, a New York state court judge barred a foreclosure action and ordered the cancellation of a borrower’s loan because of OneWest’s conduct in the case. Judge Jeffrey Spinner called OneWest’s actions “harsh, repugnant, shocking and repulsive” and said it was “made clear to the Court that plaintiff had no good faith intention whatsoever of resolving this matter in any manner other than [foreclosure].” In addition, Judge Skinner questioned the bank’s estimate of the amount owed by the borrower.
Here is the full text of the legal opinion.
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