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...OneWest, as IndyMac was renamed, made headlines for its hard-knuckled approach to evictions and debt collecting, foreclosing on tens of thousands of homes....
...After the deal closed, Otting was named chief executive of the bank, which was renamed OneWest and later sold to CIT....
...After rising through the ranks at Goldman Sachs, he made his fortune reviving IndyMac after it was one of the largest US bank failures during the 2008 crisis....
...The Pasadena-based bank that Mr Mnuchin chaired, renamed OneWest, foreclosed on 36,000 homes in California alone between 2009 and 2014, he notes....
...The Pasadena-based bank, formerly known as IndyMac, was a specialist in so-called “low-doc” loans that fuelled the housing meltdown....
...The memo was dated January 2013, four years after Mr Mnuchin led an investment consortium in taking control of IndyMac, the bust mortgage bank which he renamed OneWest....
...Former colleagues and associates rave about the composure he showed during the buyout of OneWest (then known as IndyMac), marshalling an all-star team of investors — George Soros and Michael Dell among...
...Commenting on his record as chairman of OneWest, he told the Senate finance committee that he had been maligned and that the bank had extended 100,000 loan modifications to help borrowers who fell behind...
...The bank, renamed OneWest, was sold to CIT Group for $3.4bn last year....
...He then fixed it up and sold it for a big profit as OneWest Bank. Both men have a keen eye for value, and are ready to buy when everyone else wants to sell....
...OneWest was formed out of the remnants of IndyMac, the California-based lender that was salvaged by a consortium including JC Flowers, George Soros and John Paulson during the financial crisis....
...under its new name OneWest....
...Also under review are 575 foreclosures at OneWest, formerly known as IndyMac; 87 at HSBC; 80 at US Bancorp; 56 at Aurora, formerly known as Lehman Brothers Bank; 25 at MetLife; six at Sovereign; and three...
...Mr Laughlin has drawn on his experiences running OneWest Bank, the entity that emerged from IndyMac Bancorp’ failure....
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