Mortgage Lenders

Stonegate Mortgage raising new round of fundingRestricted Content

March 2, 2013
Norm Heikens
Fast-growing Indianapolis company is pushing to fill a vacuum in the housing market.
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U.S. banks to pay $8.5B in mortgage settlement

January 8, 2013
Associated Press
Hundreds of thousands of Americans stand to benefit from the latest mortgage-abuse settlement, but consumer advocates say U.S. banks may be getting the best of the deal.
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Receiver appointed to manage troubled Century Building

October 1, 2012
Scott Olson
A Marion Superior Court judge has appointed a receiver to manage the seven-story building in downtown Indianapolis that is facing foreclosure. A lender to the building's owner claims it is owed $10.5 million.
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Stonegate Mortgage acquires Florida firm

September 5, 2012
The Indianapolis-based mortgage company has entered the Florida market with its purchase of NattyMac LLC in St. Petersburg.
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National, state foreclosure starts on the rise

August 9, 2012
Bloomberg News, Associated Press
The number of homes that received an initial notice of default — the first step in the foreclosure process — increased 6 percent in July compared to the same month last year. Foreclosure starts rose 83 percent in Indiana.
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Local real estate developer files for bankruptcy

May 1, 2012
Scott Olson
Cornelius M. Alig, chairman and CEO of Mansur Real Estate Services Inc., filed for Chapter 7 protection, listing $11 million in personal debt he attributed to the prolonged slump in the real estate market.
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Local mortgage firm lands $25M in private equity

March 12, 2012
 IBJ Staff and Bloomberg News
Indianapolis-based Stonegate Mortgage Corp. has received funding from Long Ridge Equity Partners, a private-equity firm, to help it expand in mortgage origination and servicing, the company said Monday.
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Record-low rates aren't creating rush at local mortgage firms

March 12, 2012
Scott Olson
Local mortgage industry executives say record-low interest rates aren't leading to a big boom in business because broader economic issues are keeping large parts of the population from seeking or qualifying for loans.
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Stonegate Mortgage plans to add 45 workers in '11Restricted Content

November 19, 2011
 IBJ Staff
The Indianapolis-based firm has pledged to add a total of 300 workers by 2015.
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Mortgage firm plans local expansion, 140 jobs

August 30, 2011
 IBJ Staff
Royal United Mortgage LLC, an Indianapolis-based mortgage firm, announced plans Tuesday to expand its local operations, adding up to 140 employees by 2013.
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Stonegate Mortgage to relocate growing firm to Indianapolis

June 17, 2011
 IBJ Staff
Stonegate Mortgage Corp. will move its growing operation to Indianapolis in the next few months after a deal to expand in Fishers fell through.
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LendingTree.com office with 64 employees closing in Carmel

June 6, 2011
Tree.com Inc., the Charlotte, N.C., parent of LendingTree.com, said its Carmel office will shut down by Aug. 16, costing 64 employees their jobs.
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Suit accuses Bank of America of fraud, racketeering

March 31, 2011
Scott Olson
The complaint, filed in Marion Superior Court, follows a similar suit that was dismissed in federal court. Bank of America and its Countrywide unit are accused of using perjured affidavits to foreclose on homes.
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Key House Republican praises Obama housing plan

March 1, 2011
Associated Press
The Obama administration's plan to gradually dissolve ailing housing giants Fannie Mae and Freddie Mac and to shrink the government's role in the mortgage market drew praise from House Republicans on Tuesday.
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UPDATE: Competitors' woes could help Fishers mortgage firm expand

December 14, 2010
Francesca Jarosz
Fishers-based Stonegate Mortgage Corp. plans to spend about $3 million to expand operations, creating up to 300 jobs by 2015.
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Fishers-based mortgage company to add 300 jobs

December 14, 2010
Francesca Jarosz
Stonegate Mortgage Corp. plans to move next spring from its current location near 106th Street and Allisonville Road to a 29,000-square-foot office near 106th Street and State Road 37.
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Home Loan Bank sues over losses on $3B mortgage portfolio

November 18, 2010
Cory Schouten
The Federal Home Loan Bank of Indianapolis is suing some of the nation’s largest financial institutions to recover losses on a $3 billion portfolio of mortgage-backed securities.
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Bank of America seeks to dismiss racketeering suit

November 11, 2010
Homeowners Dwayne Ransom Davis and Melisa Davis sued last month in Indianapolis, claiming Bank of America “routinely” submitted perjured affidavits to support foreclosures. They lost their Knightstown home last year.
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U.S. homes lost to foreclosure up 25 percent this year

September 16, 2010
Associated Press
August makes the ninth month in a row that the pace of homes lost to foreclosure has increased on an annual basis. Banks have been stepping up repossessions to clear out their backlog of bad loans.
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Study of local mortgage defaults shows benefit of counseling

June 22, 2010
Peter Schnitzler
A study by the Federal Reserve Bank of Chicago finds a strong correlation between pre-mortgage credit counseling and loan performance after comparing Indianapolis Neighborhood Housing Partnership clients with other low-income Marion County borrowers.
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Deadline approaching for mortgage lenders to pass exam

June 11, 2010
Lenders must pass the test by July 1, or their licenses will be revoked. So far, just 58 percent of more than 1,000 in the state have passed.
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KULT: Mortgage loan officers punch the clock under new ruleRestricted Content

May 22, 2010
Gregory P. Kult
The government now views loan officers more like factory workers than white-collar business managers.
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New Indiana law aims to promote safety of traditional loansRestricted Content

May 22, 2010
Scott Olson
A new state program is encouraging lenders to promote the stability of their conventional mortgages to help Indiana's housing market rebound from a foreclosure crisis instigated by risky loans.
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A new real estate crisis could wreck recoveryRestricted Content

April 24, 2010
Greg Andrews
Borrowers may not be able to refinance many of the more than $1.4 trillion in commercial real estate mortgages coming due by the end of 2014.
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Indiana Legislature approves mortgage certification program

March 20, 2010
 IBJ Staff
Rating system will help homebuyers avoid the risks of borrowing.
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  1. "And the success of the Indiana GOP to not allow an expansion of Medicaid had nothing to do with Indiana hospitals' financial woes? Fixed that for you; editorial bias rebalanced. Seriously, there are so many things wrong with Obamacare that the only way one can view it as a success is to assume that it was designed to fail our way into a government single payor healthcare system. The system is complex, creates huge regulatory burdens and overhead and yet still does not have adequate means to control escalating health care costs. But then when you elect a 10th grade math drop out with no quantitative reasoning skills to be President of one of the world's most important economies in troubled times, you can't really be surprised by blatant stupidity.

  2. No NIMBYs here to chase off a decent development. We don't need tons of parking and we'd happily play the role of host to a downtown Whole Foods.

  3. Whatever you do, don't change a single thing about Broad Ripple. I want it to look just like it did in the late '70s, with 30% of the north side of Broad Ripple Avenue burned out and plenty of places to park. That's right Broad Ripple, NEVER CHANGE. Let the world pass you by, don't improve your empty, abandoned lots full of weeds. Someday someone will want to film a zombie movie here.

  4. Hollywood could step in and make a movie about the history about this forlorn series. It could be a full celebrity cast of characters. WOW. http://www.advanceindiana.blogspot.com/2013/02/indiana-taxpayers-forced-to-pay-for.html

  5. This shouldn't come as a shock to many. Austin is a great city, and Indy needs to take some notes. Austin invests in decent transit options, has a highly educated workforce, embraces a creative class, and --despite being the state capital-- is not micromanaged by rural and suburban legislators. Want Indy to grow? Invest in the city (i.e. spend money). Raise taxes a bit, and use the money to improve education. And keep the state legislature out of Indy the other 9 months of the year.

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