OneWest Bank is a large retail savings bank with locations primarily in southern California. IndyMac Mortgage Services is now a division of OneWest Bank after the 2009 purchase of many of the IndyMac assets by OneWest Bank. IndyMac was in chapter 7 bankruptcy. Before it’s failure, IndyMac was the 7th largest mortgage writer in the country. In acquiring the assets of IndyMac, OneWest Bank becuase the holder of these mortgages and such many new foreclosures.
Interestingly enough, OneWest Bank has been criticized for their aggressive stance on foreclosure of IndyMac loans. An internet search shows many consumer complains against OneWest Bank and allegations of the bank now following the appropriate foreclosure process. There also has been some court action taken in the past against OneWest Bank.
OneWest Bank and the former Indy Mac Bank post their foreclosure listings online for potential buyers. OneWest bank lists their foreclosures with local real estate agents. The local real estate agents then list the properties on the open market in the local MLS system. You can search on their site by property type, location and property criteria such as price. IndyMac and One West Bank’s website is a great source for foreclosure listings. Property search functionality is free of charge.
You can find foreclosures from IndyMac and OWB at this link.