Fair housing groups file lawsuit arguing federal rule change removes protections
Opponents say the rule change could reverse decades of lending protections and open the door to discrimination against Black people, Latinos and other minorities.
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Justices reinstate judgment for loan broker, reject ‘fraud’ finding
A loan brokerage company will be permitted to collect a roughly $3,000 consultant’s fee from a client that rejected its financing offer, the Indiana Supreme Court has ruled, overturning a lower court’s finding that the broker asked the client to commit fraud in order to obtain financing.
Marion County mortgage data shows lower homeownership, especially among Blacks and Hispanics
More than 50 years after the passage of the federal Fair Housing Act of 1968, Marion County, Indiana’s highest populated and most racially diverse county, not only has a lower rate of homeownership than the rest of the state but has been experiencing a decline in homeownership driven by a drop in Blacks and Hispanics buying houses of their own, according to a report by the Fair Housing Center of Central Indiana.
Supreme Court: Mortgage overseer structure unconstitutional
The Supreme Court on Wednesday ruled that the structure of the agency that oversees mortgage giants Fannie Mae and Freddie Mac violates separation of powers principles in the Constitution.
HUD complaints allege racial bias in Indianapolis home appraisals
The Fair Housing Center of Central Indiana and Indianapolis resident Carlette Duffy have filed fair housing complaints with the U.S. Department of Housing & Urban Development, alleging Duffy’s home was appraised at a lower value because she is African American.
Foreclosure case remanded over statutory violation
A foreclosure dispute over a Middletown home is headed back to the trial court in Henry County after the Indiana Court of Appeals determined an order granting immediate possession of the home to its seller was erroneous.
Justices rebuff Fannie Mae, Freddie Mac petition on COVID interest tolling
The Indiana Supreme Court has denied a petition by federal mortgage giants Fannie Mae and Freddie Mac asking the court to clarify its emergency orders tolling mortgage interest in certain cases in Indiana trial courts.
7th Circuit splits in loan modification dispute, rules in bank’s favor
A 7th Circuit Court of Appeals majority affirmed Thursday the dismissal of a homeowner’s complaint against a bank that he alleged failed to honor a loan-modification offer that could have kept him from foreclosure.
Justices affirm trial court in mortgage acceleration clause case
The Indiana Supreme Court has affirmed a trial court’s order that foreclosed a couple’s interest in two mortgaged properties, concluding that the lender filed suit against the borrowers within the applicable statutes of limitations.
Litz & Eaton co-founder facing three lawsuits, including one from his former partner
Three new lawsuits have been filed against one of the co-founders of floundering Indianapolis residential development firm Litz & Eaton — including one suit that could tee up a legal fight with his former business partner.
Reversal: Bank loses in lengthy foreclosure battle
The Indiana Court of Appeals reversed judgment awarded to a bank against a former homeowner who filed for bankruptcy, finding that because the man had been discharged of any liability on the mortgage, the judgment was in error.
COA affirms developer’s liability on defaulted property
A real estate developer whose project had to be sold after the company defaulted on the mortgage is on the hook for nearly half the owed price based on a contract he signed as guarantor, the Indiana Court of Appeals affirmed.