Posted by Cochise on July 28, 2008 at 10:22:44:
http://thenewscoverage.com/359/my-experience-at-indy-mac-fraud-corruption-criminality/
Darryl Washington MAI, AI Appraisal, Influence Peddeling,
Some people tell me that it must have been hell for me, but
I look back on it as an adventure, like sailing into the “Perfect Storm”, a perfect storm of corruption and incompetence, and living to tell about it.
I first became acquainted with IndyMac through OTS appraisal examiner Darryl Washington, MAI. Darryl used to examine my appraisal department each year when at Home Savings of America (a defunked corporation), which was acquired by WAMU ( a soon to be defunked corporation) in 1998. During the summer of 2001, I had a 'chance' encounter with him at a jazz concert. I asked him what he had been up to, and he told me that he had just completed the first examination of IndyMac Bank, which had just received its savings and loan charter only a year before. He said, “Vern, they could use a guy like you.”
Several weeks later I saw the chief commercial appraiser position for IndyMac Bank posted on Monster.com. I responded with a cover letter
that started with “Darryl Washington MAI" of the OTS suggested that I contact you….” Apparently, that was the right way to start the letter.
IMB’s chief credit officer called me soon, asking “do you know Darryl Washington MAI?’ I said “Yes, he examined my department annually at Home
Savings.” His next question was “Do you know how to deal with him?” I assured the chief credit officer that I was used to 'dealing with the OTS and Darryl (Washington MAI)' and that I could get IMB into compliance with OTS appraisal regulations.
After 3 interviews, IMB wanted me to start right away, because the OTS was returning in November. I started on 10/15/01 and had a month to familiarize myself with their commercial lending practices until the OTS showed up.
Darryl Washington MAI, AI Appraisal, Influence Peddeling, OTS