Mortgage Lenders

Bank of America close to record settlement with U.S.

August 6, 2014
Associated Press
Bank of America is nearing a $16 billion to $17 billion settlement to resolve an investigation into its role in the sale of mortgage-backed securities before the 2008 financial crisis, a person directly familiar with the matter said Wednesday.
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Ex-felon fighting denial of mortgage loan license

May 8, 2014
Chris O'Malley
The state’s authority to license mortgage loan originators is at stake in a case pending at the Indiana Court of Appeals.
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Mortgage originators proliferating in IndianaRestricted Content

April 26, 2014
Chris O'Malley
Numbers surge after elimination of state-specific test; impact on competition, borrowers remains to be seen
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First Internet profit slides in first quarter

April 24, 2014
 IBJ Staff
A big decline in income from mortgage banking, linked to the national slowdown in home refinancing, carved a chunk from earnings.
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Broadbent in mortgage dispute involving retail center

March 24, 2014
 IBJ Staff
The owner of Castleton Place, a shopping center in one of the city’s busiest retail areas, is the target of a $5 million foreclosure lawsuit by a lender that seeks to have the property placed in receivership.
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Durham's Geist mansion goes back to the bank at auction

March 6, 2014
Lender JPMorgan Chase & Co. took possession of convicted Ponzi schemer Tim Durham’s Geist mansion Thursday after the property failed to draw an offer higher than the bank’s base bid of $2.24 million.
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Average 30-year mortgage rate climbs to 4.48 percent

December 27, 2013
Associated Press
Rates are sharply higher than they were a year ago when the 30-year fixed rate was 3.35 percent and the 15-year was 2.65 percent.
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Stonegate Mortgage profit slows in third quarter

November 14, 2013
In its first quarter as a public company, the Indianapolis-based residential mortgage firm reported a big year-over-year dip as rising interest rates made the market more volatile.
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Foreclosure suit tests HDG Mansur on a new frontRestricted Content

October 26, 2013
Greg Andrews
HGCC Lender LLC this month filed a $4.8 million foreclosure suit and asked a court to appoint a receiver for Hamilton Proper's 279-acre Hawthorns Golf & Country Club.
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First Internet profit falls on rising interest rates

October 25, 2013
Chris O'Malley
Shares of the Indianapolis-based bank took a nosedive during trading Friday morning after it reported its third-quarter earnings.
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Stonegate snares less than expected in IPO

October 10, 2013
 IBJ Staff
The Indianapolis firm debuted Thursday on the New York Stock Exchange at $16 per share, well below the anticipated range of $20 to $22. In total, Stonegate's 7.1 million shares garnered $114 million.
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Centre Properties escapes foreclosure on 12 properties

July 30, 2013
Jeff Newman
Financial terms of the agreements, announced in a written statement, were not disclosed, but the mortgages involve tens of millions of dollars in debt on retail properties spread throughout the area.
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Fast-growing Stonegate Mortgage files for public offering

July 2, 2013
Greg Andrews
Stonegate ranked No. 1 on IBJ’s May list of fastest-growing Indianapolis-area private companies. The eight-year-old company saw revenue rocket from $15.5 million in 2010 to $95.5 million in 2012.
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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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  1. I took Bruce's comments to highlight a glaring issue when it comes to a state's image, and therefore its overall branding. An example is Michigan vs. Indiana. Michigan has done an excellent job of following through on its branding strategy around "Pure Michigan", even down to the detail of the rest stops. Since a state's branding is often targeted to visitors, it makes sense that rest stops, being that point of first impression, should be significant. It is clear that Indiana doesn't care as much about the impression it gives visitors even though our branding as the Crossroads of America does place importance on travel. Bruce's point is quite logical and accurate.

  2. I appreciated the article. I guess I have become so accustomed to making my "pit stops" at places where I can ALSO get gasoline and something hot to eat, that I hardly even notice public rest stops anymore. That said, I do concur with the rationale that our rest stops (if we are to have them at all) can and should be both fiscally-responsible AND designed to make a positive impression about our state.

  3. I don't know about the rest of you but I only stop at these places for one reason, and it's not to picnic. I move trucks for dealers and have been to rest areas in most all 48 lower states. Some of ours need upgrading no doubt. Many states rest areas are much worse than ours. In the rest area on I-70 just past Richmond truckers have to hike about a quarter of a mile. When I stop I;m generally in a bit of a hurry. Convenience,not beauty, is a primary concern.

  4. Community Hospital is the only system to not have layoffs? That is not true. Because I was one of the people who was laid off from East. And all of the LPN's have been laid off. Just because their layoffs were not announced or done all together does not mean people did not lose their jobs. They cherry-picked people from departments one by one. But you add them all up and it's several hundred. And East has had a dramatic drop I in patient beds from 800 to around 125. I know because I worked there for 30 years.

  5. I have obtained my 6 gallon badge for my donation of A Positive blood. I'm sorry to hear that my donation was nothing but a profit center for the Indiana Blood Center.

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