OneWest Bank

Report Card
D
Overall Grade
D
Mortgages Grade
B
Debt Collection Grade
C
Bank Account Services Grade
OneWest Bank is rated overall in the bottom 5 percentile (out of 100) based on 1,217 customer complaints.

Statistics

Complaints Currently In-Progress
Complaints per $100K of Deposits84.8
Complaints Resolved in a Timely Manner93.3%
Resolutions Disputed by Customer25.2%
Average Time Until ResolutionUnknown

Financial Report

Owner CorporationImb Holdco Llc
EstablishedMarch, 2009
FDIC InsuredMarch, 2009
FDIC Certificate #058978
Number of Branches74
Total Assets$22 Million (46th)
Total Deposits$14.4 Million (55th)
Total Equity$2.8 Million (44th)
Quartarly Net Income$41.2 Thousand (56th)

Contact Information

Corporate Headquarters
888 E. Walnut Street
Pasadena, CA 91101
United Statesflag
Website
www.owb.com
Data Summary
OneWest Bank logo

Grade Summary

Overall, OneWest Bank received a grade of "D" based on how quickly the company responded to complaints, how often customers disputed their final resolution, and how many complaints were recieved per customer.

Grades are also broken down by the financial products offered be each institution. OneWest Bank is rated "D" in Mortgages, "B" in Debt Collection, and "C" in Bank Account Services. Click on any of the financial products to see how OneWest Bank compares.

Overview

OneWest Bank has received 1,217 consumer complaints since December, 2011 – more than 98% of other banks.

Of those complaints, 93.3% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' OneWest Bank meets the 60-day response deadline less frequently than 73.7% of other banks.

After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 25.2% of customers dispute OneWest Bank's response to complaints — worse than 80.4% of other companies.

Most of OneWest Bank's customers complain about mortgages with the primary issue being "loan modification,collection,foreclosure."

OneWest Bank is primarily a commercial bank with a commercial lending specialization. OneWest Bank is based in Pasadena, California and is the 46th largest FDIC insured bank in America.

Naturally larger banks receive more customer complaints than smaller ones. This does not necessarily indicate that a bank is better than another in terms of service and customer support.

However, even after adjusting for bank size and number of customers, OneWest Bank receives far more complaints than most other banks. OneWest Bank recieves more complaints per customer than 99% of other banks – customers are significantly more likely to file complaints than customers of most other banks.

Corporate Headquarters
Complaints by Product
Complaints by State
Complaints Against OneWest Bank
#Financial ProductSub-ProductComplaint IssueComplaint Count
1MortgageOther mortgageLoan modification,collection,foreclosure386
2MortgageConventional adjustable mortgage (ARM)Loan modification,collection,foreclosure176
3MortgageConventional fixed mortgageLoan modification,collection,foreclosure115
4MortgageOther mortgageLoan servicing, payments, escrow account105
5MortgageReverse mortgageLoan modification,collection,foreclosure92
6MortgageReverse mortgageLoan servicing, payments, escrow account63
7MortgageConventional adjustable mortgage (ARM)Loan servicing, payments, escrow account48
8MortgageConventional fixed mortgageLoan servicing, payments, escrow account46
9MortgageOther mortgageOther32
10Bank account or service(CD) Certificate of depositAccount opening, closing, or management24
Responses From OneWest Bank
#Company ResponseResponse CountTimely Response CountDisputed Count
1Closed with explanation940888 (94.5%)239 (25.4%)
2Closed without relief183152 (83.1%)55 (30.1%)
3Closed8377 (92.8%)17 (20.5%)
4Closed with non-monetary relief7067 (95.7%)15 (21.4%)
5Closed with relief2018 (90%)3 (15%)
6Closed with monetary relief1716 (94.1%)1 (5.9%)
7In progress33 (100%)0 (0%)
Complaints over the Past Year