[1] On March 19, 2009, a seven-member investor group, IMB Holdco, led by Steven Mnuchin—which included billionaires Christopher Flowers, John Paulson, Michael Dell, and George Soros—purchased Independent National Mortgage Corporation (IndyMac Bank) of Pasadena, California for $13.65 billion from the FDIC and created OneWest, which then had 33 branches and $32 billion in assets.

[5] The New York Daily News[6] and the Wall Street Journal reported that OneWest Bank had started foreclosure proceedings on 137,000 homeowners.

[7] On November 25, 2009, Judge Jeffrey Spinner in Long Island, New York, penalized OneWest for their “harsh, repugnant, shocking and repulsive” actions in trying to work out a distressed mortgage, by canceling the debt in favor of the borrower.

[12] According to the United States Department of Justice, "The United States alleged that Financial Freedom sought to obtain insurance payments for interest from FHA despite failing to disclose on the insurance claim properly forms it filed with the agency that the mortgagee was not eligible for such interest payments because it had failed to meet various deadlines relating to appraisal of the property, submission of claims to HUD, and pursuit of foreclosure proceedings.

As a result, from March 31, 2011 to August 31, 2016, the mortgagees on the relevant reverse mortgage loans serviced by Financial Freedom allegedly obtained additional interest they were not entitled to receive.