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Jul 8, 2009

FDIC & OneWest Bank Select CWP Advisors to Provide Services

ALISO VIEJO - IndyMac Venture LLC, a joint venture of FDIC and OneWest, engages CWP Advisors LLC to provide asset management services for its real estate loan portfolio that it holds as a joint venture with the FDIC. CWP Advisors will review the loans and make recommendations to IndyMac Ventures on a project-by-project basis.

IndyMac Venture, a joint venture of OneWest Bank and the Federal Deposit Insurance Corporation (FDIC), holds construction loans, loans to builders, and lot loans. IndyMac Venture is a subsidiary of Pasadena, California-based OneWest Bank Group LLC, a newly-formed thrift holding company owned by a consortium of private investors including Paulson & Co., Inc. and J.C. Flowers & Co. LLC. On March 19, 2009, OneWest Bank completed its acquisition of the banking operations of IndyMac Federal Bank, FSB from the FDIC. OneWest Bank is a federal savings bank with total assets of approximately $16.0 billion.

"We are pleased about building a long-term relationship with IndyMac Venture, OneWest Bank, and the FDIC," said Gregg Williams, principal of CWP Advisors. "These are challenging investments. We will work with the IndyMac Ventures on an asset-by-asset basis to create a custom solution," said Williams.

About CWP Advisors LLC

CWP Advisors was formed in response to the distressed real estate market. The Company offers Asset Management, Receivership Services and Sophisticated Resolution Solutions for real estate assets for owners and lenders invested in residential and commercial real estate.

For more information: 1601 Dove Street, Suite 273, Newport Beach, CA 92660 | 949-330-7370