The Federal Home Loan Bank of Indianapolis has filed suit against some of the nation’s largest financial institutions, including Bank of America, Wells Fargo and J.P. Morgan Chase, to recover losses on a $3 billion portfolio of mortgage-backed securities.
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.
Looking at the final years of the Great Depression tells me that next year might not be so kind to investors.
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.
Health care shows signs of life, and multi-family buildings continue to hold their own, experts said during a recent IBJ Power Breakfast.
A top Obama adviser questioned the need Sunday for a blanket stoppage of all home foreclosures, despite evidence that banks have used inaccurate documents to evict homeowners.
The bank says Durham stopped making the required $18,329 monthly payments on the 30-year mortgage this spring.
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.
The Treasury Department said Wednesday it will send $2 billion to 17 states that have unemployment rates higher than the national
average for a year. Indiana is due to receive $83 million. States will use the money for programs to aid unemployed homeowners.
The Indiana Foreclosure Prevention Network will hold meetings in eight cities across the state soon to help people stay in
their homes.
Todd Leary of Carmel pleaded guilty in court Thursday to a felony charge of misappropriating title insurance escrow funds.
His agreement with prosecutors calls for him to face up to three years in prison, with that cut in half if he pays nearly
$295,000 in restitution.
Nearly 528,000 homes were taken over by lenders in the first six months of the year, a rate that is on track to eclipse the
more than 900,000 homes repossessed in 2009.
A new federal law intended to enhance consumer protection and reduce fraud in the residential loan market may put the kibosh on seller financing of residential properties. This has huge implications for owners of rental housing.
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.
The recent chatter followed the bank board’s decision to award CEO Milton J. Miller II a severance agreement entitling him to extra pay in the event of a merger.
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.
Credit problems continue to bedevil banks big and small, many of them caused by soured commercial real estate loans.
Congress is getting tougher on both borrowers and lenders blamed for inflating a housing bubble that, when it popped, plunged
the nation into a severe recession two years ago.
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.
The government now views loan officers more like factory workers than white-collar business managers.
