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LendingTree.com office with 64 employees closing in Carmel

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The parent of online mortgage provider LendingTree.com said it will close its Carmel office, resulting in the loss of 64 jobs.

Charlotte, N.C.-based Tree.com Inc. on Friday notified the Indiana Department of Workforce Development that the office at 11595 N. Meridian St. will close during a 14-day period ending Aug. 16.

A few of the 64 employees may be offered transfers to another LendingTree.com office, the company said.

Tree.com is the parent of several financial services and real estate subsidiaries. Besides LendingTree.com, they include GetSmart.com and RealEstate.com.

For the quarter ended March 31, the company lost $39.5 million, or $3.63 per share amid difficult times for the residential mortgage industry.

The housing market continues to struggle both locally and nationally.

Home-sale agreements in the nine-county Indianapolis area sank for the 12th straight month in April, plunging 36.4 percent compared to the same month a year ago.

 

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  1. PJ - Mall operators like Simon, and most developers/ land owners, establish individual legal entities for each property to avoid having a problem location sink the ship, or simply structure the note to exclude anything but the property acting as collateral. Usually both. The big banks that lend are big boys that know the risks and aren't mad at Simon for forking over the deed and walking away.

  2. Do any of the East side residence think that Macy, JC Penny's and the other national tenants would have letft the mall if they were making money?? I have read several post about how Simon neglected the property but it sounds like the Eastsiders stopped shopping at the mall even when it was full with all of the national retailers that you want to come back to the mall. I used to work at the Dick's at Washington Square and I know for a fact it's the worst performing Dick's in the Indianapolis market. You better start shopping there before it closes also.

  3. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  4. If you only knew....

  5. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

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