[WSBARP] FW: OneWest Bank FSB - ha

[Roger Hawkes]

Any knowledge, tips or speculations about the following scenario would be much appreciated. It seems really unlikely that Onewest has very few foreclosures in Washington and, hence, does not have to participate in FFA mediation.

We had a FFA Mediation with Onewest kicked out of the program about a year into the process because opposing counsel finally noticed that OneWest is on the FFA mediation exempt list for 2014.  This is very odd because OneWest really is one of the large banks, so not impossible, but certainly an anomaly.

A few thoughts:

Outright lying -  The exemption is based on an affidavit beneficiaries provide to Commerce, so one tact is to check the truth of this  - maybe from Trustees, or from local foreclosure folks

Being sneaky - The other idea is that OneWest may be carefully assigning interest in trustee sales properties to wholly owned subsidiaries - the head of Commerce, Corina Gregorias and I both thought it is odd that Indymac is not exempt while OneWest is  (OneWest purchased a large part of Indymac), which could indicate that Indymac is.  So this would be researching the Corporate OneWest Parent and Children and see if OneWest is  being sneaky.

Here is the link to the 2015 list of exempt institutions, as an example:

http://www.commerce.wa.gov/Documents/2015%20Financial%20Institutions%20Exempt%20from%20Mediation%202-6-2015.pdf

Kate F. Love
Licensed Legal Intern # 9119146

Hawkes Law Firm P.S.
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