Supreme Court takes up housing bias case
The justices agreed Thursday to take up a case that challenges the theory that certain housing or lending practices can illegally harm minority groups, even when there is no proof of intent to discriminate.
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Mortgage firm to expand to Westfield, add 360 jobs
California-based Carrington Mortgage Services said Thursday it plans to spend $3.2 million to open an office in Westfield. In addition to the new hires, about 180 employees in Fishers would move to the Westfield location.
Bank of America close to record settlement with U.S.
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.
Ex-felon fighting denial of mortgage loan license
The state’s authority to license mortgage loan originators is at stake in a case pending at the Indiana Court of Appeals.
Mortgage originators proliferating in Indiana
Numbers surge after elimination of state-specific test; impact on competition, borrowers remains to be seen
First Internet profit slides in first quarter
A big decline in income from mortgage banking, linked to the national slowdown in home refinancing, carved a chunk from earnings.
Broadbent in mortgage dispute involving retail center
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.
Durham’s Geist mansion goes back to the bank at auction
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.
Average 30-year mortgage rate climbs to 4.48 percent
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.
Stonegate Mortgage profit slows in third quarter
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.
First Internet profit falls on rising interest rates
Shares of the Indianapolis-based bank took a nosedive during trading Friday morning after it reported its third-quarter earnings.
Foreclosure suit tests HDG Mansur on a new front
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.
Stonegate snares less than expected in IPO
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.
Centre Properties escapes foreclosure on 12 properties
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.
Fast-growing Stonegate Mortgage files for public offering
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.
Stonegate Mortgage raising new round of funding
Fast-growing Indianapolis company is pushing to fill a vacuum in the housing market.
U.S. banks to pay $8.5B in mortgage settlement
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.
Receiver appointed to manage troubled Century Building
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.
Stonegate Mortgage acquires Florida firm
The Indianapolis-based mortgage company has entered the Florida market with its purchase of NattyMac LLC in St. Petersburg.
National, state foreclosure starts on the rise
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.