Mortgage Lenders

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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First Internet Bank suffers first loss since 2000

March 1, 2010
Peter Schnitzler
Problem loans led to a $2.1 million loss for the Web-based financial company in 2009.
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Panel handicaps market recovery chancesRestricted Content

May 25, 2009
Cory Schouten
A panel of five veterans of real estate and construction provided industry insights at IBJ's Power Breakfast May 1 at the Westin Indianapolis.
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Lease-to-own options becoming more popularRestricted Content

December 8, 2008
Chip Cutter
With credit tight and the economy shaky, homeowners around the region are increasingly choosing to sell their properties on a lease-to-own basis.
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City Securities buys lender in bid to reach new marketsRestricted Content

July 24, 2006
Peter Schnitzler
City Securities Corp., one of the largest investment firms based in Indiana, has purchased Columbus, Ohio-based ReCasa Financial Group LLC, a specialty lender focused on rehabs of dilapidated houses.
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