Indymac and most banks involved in the lending orgy, paid illegal kick backs to their brokers and corresponding lenders.
Indymac is a services of many loans, meaning they have no legal right to foreclose. Most of their loans were presold. In other words, by the time the borrowers came to settlement the mortage had been paid off by another party. However the originating pretender lender remained on the note. This is fraud and against the UCC title 3 and 9, fees were paid under the table that would make this and all other securitized transactions unenforceable. That is why they do not bring the original note to the table. They were destroyed or altered and their payment stream was diverted from the purposed identified on the note, rendering the document void on its face.

All these financially structured loans are in violation of the Truth in Lending Act. The real lender, the investors who prefunded the loan were never disclosed to the borrower, who was in turn needed to sign the loan documents at all costs for the people who presold the loan could materialize their fees and commission. In a regular transaction the fees would almost equal 50% of the loan amount.

You may look into the Bankruptcy filing for First Magnus Financial Which filed for BK back in 2007. Their Bankruptcy filing will show how they made their money and how they profited from preselling the loans.

If only the lawyers could just dig a little deeper and the courts stopped rubber stamping the foreclosures things would be very different. It is very clear to those who dig deeper that the non-judicial foreclosure states have made it easy for these banksters to steal the homes away from the people.

Just like professor William Black in his book "If you want to rob a bank, Own one". These people have stolen the hopes and dreams of millions of Americans and no body is bringing the facts to bear.

Thanks for reporting these type of issues.

Jose L. Semidey
Mortgage Analysis and Consulting, LLC
www.toxicmortgageloan.com
703-946-5851