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Flylady · 04-07-2010, 10:17 PM

This youtube video shows why it is so hard to refinance if your Mortgage is held by OneWest (former IndyMac) First Federal Bank and other banks that failed and were taken over by FDIC and then assigned to an assuming bank when they had large amount of residential mortgages at sub prime or no doc.
The only mis- representation in the video is that FDIC is funded by taxpayers. Actually it is funded by changing and collecting fees to all the banks covered by FDIC.

http://www.youtube.com/watch?v=_UNkQ...eature=related

04-07-2010, 10:17 PM	#6
Flylady Senior Member Join Date: Apr 2006 Location: So. California & Lakes Region Posts: 256 Thanks: 225 Thanked 106 Times in 61 Posts	Here is why many banks won't refinance.. This youtube video shows why it is so hard to refinance if your Mortgage is held by OneWest (former IndyMac) First Federal Bank and other banks that failed and were taken over by FDIC and then assigned to an assuming bank when they had large amount of residential mortgages at sub prime or no doc. The only mis- representation in the video is that FDIC is funded by taxpayers. Actually it is funded by changing and collecting fees to all the banks covered by FDIC. http://www.youtube.com/watch?v=_UNkQ...eature=related