East West Bank is one of the biggest independent banks based in Southern California. Globally, they own 125 locations. They are involved in the markets of California, Texas, Georgia, Nevada, Massachusetts, Washington, New York, and major cities in Greater China and provide online banking.
East West began its journey to assist Chinese-Americans in Los Angeles, 1973. Because there are so few banks whose primary audience is the United States and Greater China, East West has found a community where they flourish.
East West provides numerous personal banking accounts and loan options. They also include several business plans and mortgage opportunities.
Programs for Foreclosure Assistance
East West works with their clients concerning mortgages and foreclosures. They understand that life sometimes becomes difficult. So, they offer a few workout options: Forbearance Agreements, Repayment Plans, and Loan Modifications. To accomplish any of these options, East West needs some financial information to find an appropriate workout strategy.
They need information such as detailed explanations of the cause for financial hardships, sources of income, tax forms, and other monetary documentation. All persons responsible for the mortgage (all borrowers) need to provide these documents. That includes a Mortgage Assistance Application and a Taxpayer Consent Form, signed and dated by all borrowers. More information about this is on their website.
Forbearance Due to COVID19
The United States economy dipped since COVID-19 began. A downturn in the market is an indicator that businesses may not be able to make as much money, pay as much to employees, or hire as many employees, lessening job opportunities. In short, the U.S. economy is struggling.
The government tried to compensate for this with Stimulus Checks, but with fewer jobs, there are fewer taxes, and the government will not be able to sustain that kind of support. Because of this, local banks are stepping up to help in their communities.
Even though East West closed several of their branches and locations due to the coronavirus, they still provide help at a distance. They are available to call or mail about workouts and other issues. For homeowners who struggle with their mortgage in this hard time, East West offers temporary deferrals due to COVID-19.
To further investigate your options to avoid foreclosure, call 877-392-6868, or fax 626-242-9570. Or, message them on their website for mortgage assistance.
To contact East West’s Global Transaction Services team, call 888-761-3967. You can also message them on their website with general questions.
East West has two 24/7 automated call lines in four languages (Spanish, English, Mandarin, and Cantonese). For domestic calls, the number is 800-809-6761. For an international call, the number is 626-779-0228.
If you are calling about personal banking, the number is 888-895-5650. It is open Monday – Friday, 6:00 A.M. – 7:00 P.M. Pacific Time (PT) and Saturday 9:00 A.M. – 5:00 P.M. PT.
If you are calling about business banking, the number is 888-761-3967. It is open Monday – Friday, 6:00 A.M. – 7:00 P.M. PT.
To report a missing or stolen ATM or VISA® debit card, call 800-236-2442. This line is open twenty-four hours a day, seven days a week.
East West’s mailing address is East West Bank, P.O. Box 60020, City of Industry, CA 91716.