Up To 200 IndyMac Workers To Get Pink Slips

Just days after Ocwen Financial Corp. said it would buy mortgage servicing rights from OneWest Bank for $2.53 billion, including $78 billion in loans, WWMT Newschannel 3 in Michigan reported that 150 to 200 employees working for IndyMac Mortgage Services, a division of OneWest bank located in Texas Township, Mich., will lose their jobs.

WWMT has reportedly obtained an internal email from the company indicating that the layoffs are coming. The report cites unidentified sources who refused to use their names for fear of retribution.

IndyMac is the mortgage management division for OneWest – the successor to IndyMac Bancorp, which was seized by the Federal Deposit Insurance Corp. in 2008.

According to the WWMT report, the servicing division will shrink from about 300 to about 30 employees. The unidentified sources told the station that Ocwen plans to outsource the servicing jobs, possibly to a BPO located overseas.

In related news, a report on statesman.com claims that OneWest also plans to lay off about 725 workers in its Austin offices.


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