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Mortgages
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.
MoreBattered banks don't see light at end of tunnel
May 29, 2010
Greg AndrewsCredit problems continue to bedevil banks big and small, many of them caused by soured commercial real estate loans.
MoreKULT: Mortgage loan officers punch the clock under new rule
May 22, 2010
Gregory P. KultThe government now views loan officers more like factory workers than white-collar business managers.
MoreNew Indiana law aims to promote safety of traditional loans
May 22, 2010
Scott OlsonA 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.
MoreA new real estate crisis could wreck recovery
April 24, 2010
Greg AndrewsBorrowers 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.
MoreFour charged with income tax fraud
April 7, 2010
A business owner and three people allegedly involved in a large mortgage fraud scheme face prison sentences for failing to
report income or file certain tax forms.
MoreIndiana Legislature approves mortgage certification program
March 20, 2010
IBJ StaffRating system will help homebuyers avoid the risks of borrowing.
MoreFirst Internet Bank suffers first loss since 2000
March 1, 2010
Peter SchnitzlerProblem loans led to a $2.1 million loss for the Web-based financial company in 2009.
MoreEx-investor sentenced in Indiana mortgage fraud
January 5, 2010
IBJ Staff and Associated PressRobert A. Penn, 44, of Naples, Fla., received seven years in prison and was ordered to pay more than $11 million in restitution.
MoreIndianapolis Airport Authority credit rating holds steady even as revenue falls
December 19, 2009
IBJ StaffIndianapolis has fared better than some airports in terms of declining revenue, with passengers down
about 10 percent for much of the year and revenue off 16 percent at one point.
MoreNational, state foreclosure filings fall
November 12, 2009
IBJ Staff and Associated PressIndiana foreclosure filings were down only 1.5 percent in October from the previous month, but have fallen a whopping 18.5
percent from October 2008.
MoreLocal man gets 37 months in mortgage-fraud scheme
November 10, 2009
Cory SchoutenA federal judge has ordered an Indianapolis man to serve 37 months in prison and pay $1.7 million in restitution for his role
in a massive mortgage fraud scheme.
MoreSecond developer facing foreclosure on Fishers property
October 20, 2009
Scott OlsonThe developer of the proposed $80 million project is facing foreclosure on the property at the same time adjoining land critical
to the project's development has been scheduled for liquidation by a lender.
MorePanel handicaps market recovery chances
May 25, 2009
Cory SchoutenA panel of five veterans of real estate and construction provided industry insights at IBJ's Power Breakfast May
1 at the Westin Indianapolis.
MoreForeclosure investors shift to buy-and-hold strategy
April 6, 2009
Sam StallInstead of buying and selling, investors with ready cash are buying houses at substantial markdowns, turning them into rental
properties and sitting tight until the market improves.
MoreAvoid temptation to delay property tax payments
March 30, 2009
Jean WojtowiczIf you are late in making property tax payments, begin to chip away at your bill by making weekly payments.
MoreGeist restaurateur buffeted by financial squalls
March 2, 2009
Greg AndrewsHenri and Shelley Najem, who own The Bella Vita restaurant in Geist, represent the scores of Indiana restaurant operators
feeling financial pressure, given the severe economic slump.
MoreMarket, not bailouts, should stimulate refinancings
March 2, 2009
Mike HicksMarkets, no matter how imperfect, not government programs, manage the economy.
MoreFast-growing appraisal firm evolves from subprime past
February 23, 2009
Cory SchoutenOne of the largest independent survivors of the subprime debacle is staking its future on a real estate appraisal business
based in Indianapolis.
MoreForeclosed properties create quandary for financial institutions
February 2, 2009
Cory SchoutenReal estate holdings of the nonbank-branch variety are growing fast on bank balance sheets.
MoreLease-to-own options becoming more popular
December 8, 2008
Chip CutterWith credit tight and the economy shaky, homeowners around the region are increasingly choosing to sell their properties on
a lease-to-own basis.
MoreBailout helping PNC take over NatCity
November 3, 2008
Cory SchoutenAfter a 17-year run in Indianapolis, National City's trademark green signs are set to be replaced with the blue of Pittsburgh-based
PNC Financial. The $5.6 billion deal raises questions about the government's growing involvement in banking.
MoreLenders foreclose on at least 20 properties in mortgage scheme
October 20, 2008
Cory SchoutenCharter Homes recruited and paid buyers to take out inflated mortgages on dozens of central Indiana homes it built, promising to manage the properties as rentals and make payments for the owners, current and former Charter business partners say.
Lender claims M&I Plaza when it fails to sell at auction
June 30, 2008
Cory SchoutenA Maryland company has taken ownership of downtown's 28-story M&I Plaza just three months before a major tenant departure
leaves the skyscraper 70-percent vacant. The new owner is CapitalSource Inc., a commercial finance and investment firm based
in Chevy Chase, Md. It had been a lender to the former owner, which defaulted.
MoreRegulators seek mortgage reforms
December 3, 2007
Peter SchnitzlerState regulators want more firepower to fight mortgage crimes. But a month before the General Assembly convenes, real estate
interests are uneasy, fearing lawmakers may go overboard.
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First, let me say that I love the idea of communities being self-sufficient and people in the community not needing cars, living, working and shopping all in their neighborhood. To sum it up; I love good urban planning and hate urban sprawl. However, there are two reasons that I am against this development. First, this building doesn't fit. Density can occur in Ripple by building up top the street and better use of land. The scale of this project should be downtown. Secondly, I would be willing to bet that if a whole foods in Ripple is built, the Nora store would be closed. Here's my reasoning. The Nora Whole Foods expansion plans have been put on hold. I'm guessing they are waiting to see what happens with the Ripple proposal. Communities next to each other should work together to end sprawl and not work against each other and take other neighbors assets. Develop something both communities can be proud of and will attract more development and density. There's my soap box for the day.
My apologies, Lou - it was the Indy Star that printed cost for entertaining "celebrities" during Indy 500. Sorry for confusing the always timely IBJ with Indy's Gannett reprint news source.
That's fine if you want a grocery store that has festivals and live music. I guess with the prices they charge, they can afford to host such activities. As for me, I choose to spend my money more wisely and if I want to go to a festival or a concert, I will pay for that separately - not through my grocery bill.
TIF is not just to attract development but to attract a higher use for that development. Carmel wisely is using TIF for numerous public parking garages. Asphalt seas of parking pay little taxes and bring even less value to a commercial area. Also density is what is going to save Indy and Broad Ripple. The days of trying to compete with burbs are long gone.
The Prestige was an awesome movie.