Has the Bubble Burst? Glut of Houses for Sale in Northern Ohio
Regional News Stories: Tuesday, May 16, 2006
Driving around your neighborhood, you may have noticed more for sale signs up than usual. You're not imagining things. After several years of record sales, Northern Ohio realtors are reporting a glut in homes in many local markets. ideastream's Mhari Saito reports.

Record Number of Mortgage Fraud Cases in Solon
Regional News Stories: Friday, January 19, 2007
Solon police are now investigating a record number of mortgage fraud cases for the wealthy suburb. ideastream®'s Mhari Saito reports.

ARM Interest Raise May Lead to Foreclosures
Regional News Stories: Monday, January 22, 2007
Thousands of Northeast Ohio homeowners with loans they once thought affordable may be looking at higher mortgage bills in coming months. Adjustable rate mortgages, or ARMs, appealed to many because of the promise of lower payments up front. But the interest rates, and how much a borrower pays, can go up or down depending on what economic index the loan is linked to. Many adjustable rate loans taken out in 2004 and 2005 are now resetting at higher rates. And that's got housing advocates worried about a new round of foreclosures on the horizon. ideastream's Mhari Saito reports.

Housing Analyst Ivy Zelman Predicts Wall Street Troubles to Ripple to Main Street
Regional News Stories: Wednesday, March 14, 2007
The Dow Industrials fell 242 points yesterday, and analysts put some of the blame on an ongoing financial crisis among lenders who specialize in mortgages for people with weaker credit. Worry grows as more borrowers with these subprime loans fail to pay their mortgages on time and fall into foreclosure. Cleveland-based analyst Ivy Zelman of Credit Suisse talked with ideastream's Mhari Saito about how trouble with subprime companies on Wall Street could impact us here in Northeast Ohio.

One Family’s Foreclosure Struggle
Regional News Stories: Thursday, March 22, 2007
Rising foreclosures and trouble in the nation's mortgage markets are now grabbing political attention. Today, top executives from four major subprime lenders are heading to Washington to testify at a Senate Banking committee hearing. And yesterday, Cleveland's struggle with foreclosures was heard in a congressional subcommittee hearing convened by U.S. Representative Dennis Kucinich. Foreclosures in Cuyahoga County are climbing this year, so far averaging nearly 1,300 a month. ideastream's Mhari Saito followed one family as it scrambled this week to save their home.

Ohio Home Foreclosures Soaring
Regional News Stories: Monday, April 2, 2007
The number of foreclosure filings in Ohio is soaring, and advocates for homeowners say - more and more, it is families that are solidly middle class that are being hurt. There are calls for more government regulation of lenders, but the lenders insist they are not the main problem. Statehouse correspondent Bill Cohen reports.

Study Shows Banks Waiting to Reveal Foreclosures
Regional News Stories: Friday, April 6, 2007
Rising numbers of foreclosures across Ohio mean banks and mortgage companies are finding themselves stuck with more and more homes - and the bills required to keep the properties up to code. Housing activists say some lenders are avoiding these responsibilities by taking too long to formally tell the county that they've repossessed the property. A new study out of Case Western Reserve University's NEO CANDO project may shed some light. It found 2,000 properties in Cuyahoga County - 1,100 in the city of Cleveland - that have been repossessed by mortgage companies at sheriff sale, but have been waiting months, if not over a year, for lenders to file their deeds. ideastream's Mhari Saito reports.

After Lapse, City of Cleveland Ramps Up Demolitions
Regional News Stories: Wednesday, April 18, 2007
A $6 million bond hits the street this week, money earmarked for the City of Cleveland to knock down dangerous and abandoned properties. City officials say it's the first time they're issuing bonds just for demolition and blight removal. Neighbors and housing activists welcome the money. But they warn City Hall must reform its Department of Building and Housing if the job of tackling the city's worst homes is really going to get done. ideastream's Mhari Saito reports.

Safeguard Property Management Profile
Regional News Stories: Thursday, May 10, 2007
Rising foreclosures have given a boost to one little known industry: mortgage field servicers. These are contractors that take care of foreclosed property for lenders. Perhaps then its not so much of a surprise that Cleveland, the city with one of the highest foreclosure rates in the U.S., is also home to the largest privately held mortgage field services company in the country. ideastream's Mhari Saito spent some time with employees at Safeguard Property Management and filed this report.

Kucinich to Hold Hearing Over Foreclosures
Regional News Stories: Monday, May 21, 2007
Congressman Dennis Kucinich will be taking the Federal Reserve of Cleveland to task today for the soaring number of foreclosures in the city. ideastream's Bill Rice reports.

Foreclosure Pandemic
Regional News Stories: Tuesday, May 22, 2007
With thousands of home foreclosures predicted for this year in Cuyahoga County, Cleveland Congressman Dennis Kucinich held a federal hearing in Cleveland yesterday. It focused on the rash of high risk loans that have sent many hopeful homeowners into a downward spiral of debt. ideastream's David C. Barnett has more.

Mortgage Brokers, Loan Officers Numbers Down
Regional News Stories: Wednesday, June 6, 2007
A downturn in the country's mortgage industry and a new state anti-predatory lending law are causing a drop in the number of local companies putting together mortgages. The Ohio Department of Commerce says since January, the number of mortgage brokers in the state has plummeted 22 percent, and the number of loan officers are down 18 percent. ideastream's Mhari Saito reports.

Builders Turning to Auctions to Move Property
Regional News Stories: Thursday, June 14, 2007
The region's slow real estate market is inspiring some builders to turn to auctions to sell off properties that haven't been moving. ideastream's Mhari Saito went to an auction last night in Lorain County and filed this report.

Suburbs Struggle With Mortgage Fraud
Regional News Stories: Monday, June 18, 2007
Defendants in a large mortgage fraud case in Cleveland could be headed to court this summer. Cuyahoga County Assistant Prosecutor Michael Jackson says many of the 61 defendants are negotiating plea deals in exchange for testifying against bigger players in the scam. Local law enforcement says mortgage fraud though extends beyond city limits, as suburban police around the county wrestle with growing lists of homes to investigate. ideastream's Mhari Saito reports.

State Mortgage Aid Not Reaching Many Borrowers
Regional News Stories: Friday, September 7, 2007
Ohio has money to spend for borrowers in trouble, but the state is having trouble finding borrowers to take the loans. A new study by the Mortgage Bankers Association shows that while Ohio still leads the nation in the number of people seriously late on their home mortgage payments or in foreclosure, the numbers may be leveling off. But others say many troubled Ohio's borrowers are too far gone for help. ideastream's Mhari Saito reports.

Foreclosure Prevention Task Force Approves Recommendations
Regional News Stories: Tuesday, September 11, 2007
Over the next two years, an estimated 200,000 Ohio homeowners could see their adjustable mortgage rates soar, making it hard for them to keep up their monthly payments. Thousands of others are already facing foreclosure. That's why this week a special "Foreclosure Prevention Task Force" approved more than two dozen recommendations. Statehouse correspondent Bill Cohen reports.

Indictments in Solon Mortgage Fraud
Regional News Stories: Friday, September 14, 2007
The Cuyahoga County prosecutor has announced multiple indictments in several cases of alleged mortgage fraud in Greater Cleveland. ideastream's David C. Barnett reports that yesterday's legal actions show how the foreclosure crisis isn't limited to inner city addresses.

Borrowers Seeking Loan Modifications Hitting Barriers
Regional News Stories: Thursday, October 18, 2007
Governor Strickland has given the state's biggest lenders until Monday to sign an agreement promising to restructure more troubled home loans. If they don't, Strickland says he may try to push it through the legislature. One option, a loan modification, changes the written terms of a loan. Politicians like it because it means no tax payer bailout, but investors holding the loan would have to take any loss. ideastream's Mhari Saito reports not all homeowners looking for loan modifications are having luck.

Ohio Housing Advocates: Bush Mortgage Plan Not Much Help
Regional News Stories: Friday, December 7, 2007
Wall Street rallied yesterday on news that President George W. Bush plans to help the mortgage lending industry. The President says lenders will freeze interest rates for some subprime adjustable rate mortgages instead of resetting to higher rates. But Ohio leaders and state housing advocates say the President's plan probably won't help the Buckeye state's sky-high foreclosure rate all that much. ideastream®'s Mhari Saito reports.

Housing Activists Ask for Freeze on Evictions
Regional News Stories: Tuesday, December 18, 2007
Housing advocates are asking for a break on auctions of foreclosed homes and evictions of the homeowners for the holiday season. ideastream®'s Mhari Saito reports.

State’s Judges Test Mediation in Foreclosure Suits
Regional News Stories: Thursday, December 20, 2007
Ohio's judges are looking at ways to help county courts deal with rapidly growing dockets of foreclosure cases. Judges are urging lenders and borrowers in trouble to hammer out solutions before foreclosure suits are settled in court. Ideastream®'s Mhari Saito reports.

More Mortgage-Related Job Cuts at National City
Regional News Stories: Wednesday, January 2, 2008
Cleveland-based National City Bank today announced it's laying off 900 more people and shutting down its wholesale mortgage division. ideastream®'s Mhari Saito reports.

More Cuyahoga County Seniors Looking for Help with Foreclosure
Regional News Stories: Friday, January 11, 2008
In 2007, the number of Cuyahoga County seniors calling 211, the United Way of Greater Cleveland's First Call for Help continued to climb. The 24-hour hotline provides help on everything from finding food pantries to getting help with substance abuse. In 2005, nearly ten thousand seniors dialed 211 looking for help. That number climbed to over 16 thousand in 2007. ideastream®'s Mhari Saito reports many seniors were looking for help keeping up with the mortgage payments on their homes.

Cleveland Taking Investment Banks to Court
Regional News Stories: Friday, January 11, 2008
The city of Cleveland is suing 21 major investment banks in response to the foreclosure crisis. It's one of the first large cities to take the banks to court, as ideastream's Mhari Saito reports.

Study: Numbers of Bank-Owned Property in Cuyahoga County Skyrocket
Regional News Stories: Monday, January 14, 2008
There are so many homes in Cleveland now owned by financial institutions that the system to get them back onto the market is overloaded. That's according to a study just out from Case Western Reserve University. ideastream's®: Mhari Saito reports.

Ohio Banks Announce Losses
Regional News Stories: Tuesday, January 22, 2008
For bankers and financial analysts, today is Black Tuesday, a day when dozens of banks across the nation will make their quarterly financial reports available. The numbers could add another tremor to financial markets already feeling the effects of the US sub-prime loan crisis. ideastream® reporter Kymberli Hagelberg has details.

Some Troubled Ohio Homeowners Still Struggling to Find Mortgage Help From Lenders
Regional News Stories: Wednesday, February 13, 2008
As foreclosures surge across the country, the pressure is on for legislators and lenders to find help for troubled borrowers. Yesterday, six of the country's largest lenders announced a voluntary plan to help borrowers in trouble renegotiate their loans. And bills in Congress would allow judges to modify loan terms for borrowers in bankruptcy. ideastream®'s Mhari Saito reports.

Report: Abandoned Homes Cost Ohio $64 Million
Regional News Stories: Tuesday, February 19, 2008
Abandoned houses and vacant lots have cost the state of Ohio nearly $64M million dollars in upkeep and property tax losses. And over half of that expenditure and tax loss comes from Cleveland. That's according to a new report out today that's calling for governments and lenders to do more about the vacant homes, before problems get worse. ideastream's®: Mhari Saito reports.

Number of Ohio Mortgage Brokers Takes Huge Hit in 2007
Regional News Stories: Monday, February 25, 2008
The sub-prime housing crisis has lead to layoffs of employees by the thousands at mortgage companies across the country, including 845 lost jobs in Ohio in 2007. That's according to a study by Mortgage Daily dot com. Large and small firms alike are getting hammered and small privately-run mortgage brokerages that sprouted up during the real estate boom are disappearing fast. ideastream®'s Mhari Saito reports.

National City Weighs Strategies Amid Sale Rumors
Regional News Stories: Wednesday, April 2, 2008
National City announced yesterday that it’s reviewing strategic alternatives for the bank. That comes after weeks of rumors that it’s been looking for a buyer. But, some business experts say a buyer isn’t the only alternative that National City could be looking at. Ideastream’s Tasha Flournoy has this report.

Demand for Emergency Food Help Rising
Regional News Stories: Monday, April 7, 2008
Rising food prices have some worried about how many Americans will turn to government and private aid to fill their cupboards. In Ohio, food pantries and hunger centers are reporting record turnout. The Buckeye state has lost more than 200 thousand manufacturing jobs in the past decade and has been hard hit by the foreclosure crisis. ideastream's Mhari Saito reports.

Foreclosure Crisis Hits Outer Ring Suburbs
Regional News Stories: Wednesday, April 9, 2008
Up until recently, Cleveland's foreclosure crisis has been centered in the city and its neighboring suburbs. Now housing counselors say the fastest growing group of borrowers looking to get foreclosure help are from the outer ring suburbs. ideastream®'s Mhari Saito reports.

Homeless School Children on Rise
Regional News Stories: Tuesday, April 15, 2008
School districts in some of Ohio's largest cities are reporting a rise in the number of homeless students this year. District officials point to a tougher economy and foreclosures, especially of rental properties. ideastream®'s Mhari Saito reports.

National City’s Future: ‘Vanilla,’ says Raskind
Regional News Stories: Monday, April 21, 2008
The local and national business worlds have been abuzz Monday with news that National City Corporation has made a seven billion dollar deal led by private equity group Corsair. Analysts say it's not a perfect deal and still leaves shareholders exposed to the risk of the 25 billion dollars in risky loans. ideastream's Dan Moulthrop spoke with National City CEO Peter Raskind.

National City Bank Picks Its Suitor
Regional News Stories: Tuesday, April 22, 2008
National City Corporation is now facing its future, after getting a $7 billion dollar bailout from a private investment group. Ideastream®'s David C. Barnett has more.

Cuyahoga County Mortgage Fraud Task Force Lands 8 Guilty Pleas
Regional News Stories: Tuesday, May 6, 2008
An investigation by the Cuyahoga County Mortgage Fraud-Predatory Lending Task Force has landed eight guilty pleas. The eight are among 10 defendants involved in a $560 thousand dollar mortgage fraud case in the city of Cleveland. ideastream's Mhari Saito reports.

Two Ohio Banks Report Big Losses
Regional News Stories: Tuesday, July 22, 2008
Two of Ohio's biggest banks reported their first losses in years yesterday thanks in part to ongoing turmoil in the nation's credit markets. ideastream®'s Mhari Saito reports that just last summer, Ohio's third largest bank, KeyCorp, had racked up a $334 million dollar profit in the second quarter.

National City Posts $1.8 Billion Dollar Loss on Housing Troubles
Regional News Stories: Thursday, July 24, 2008
If you're watching National City's stock price this morning, it's been a bumpy ride. Rising then falling back to around $4.70, not far from where it closed last night. The company's CEO told analyst the bank has plenty cash on hand to get through a tightening economy. ideastream®'s Mhari Saito reports.

Nat City Stock Price Holds Despite Record Loss
Regional News Stories: Friday, July 25, 2008
Ohio's largest bank - National City - posted a stunning $1.8B loss last quarter. But the company's CEO told analysts it is now well-positioned to ride out turbulent credit markets. And Wall Street seemed to be OK with that - the company's stock price dipped only slightly. ideastream®'s Mhari Saito reports.

Title Company President Sentenced to Five Years in NE Ohio Mortgage Fraud Case
Regional News Stories: Monday, August 11, 2008
The president of a now closed Northeast Ohio title company was sentenced to five years in prison for her role in a mortgage fraud case involving property deals in three cities. Ideastream®'s Mhari Saito reports.

National Auto Insurer based in NE Ohio Takes Big Financial Hit
Regional News Stories: Thursday, September 11, 2008
The US Government takeover of mortgage giants Fannie Mae and Freddie Mac is hitting the bottom line of one of the region's big employers. Auto insurer Progressive Corporation is reporting a large hit to its numbers sheet because of investments in the mortgage underwriters. ideastream®'s Mhari Saito reports.

Cuyahoga County Warns of Foreclosure Rescue Scams
Regional News Stories: Monday, September 15, 2008
For homeowners facing foreclosure, finding a solution to mortgage problems can be intimidating and overwhelming. Cuyahoga County's Foreclosure Prevention Program is launching a new program today to warn borrowers that some offers of help may actually be scams. ideastream®'s Mhari Saito reports.

National City Shares Tumble After WaMu Failure
Regional News Stories: Friday, September 26, 2008
Shares of National City fell sharply today--at one point losing half their value. The stock recovered somewhat to close down about 25%. Wall Street fears National City and banks like Wachovia could be at risk after the failure and sale of Washington Mutual. ideastream®'s Dan Bobkoff reports that the fear might be overblown.

National City Stock Sharply Down Again On Wall Street
Regional News Stories: Monday, September 29, 2008
As the business world reacted to what was happening in Washington, many bank stocks lost value. Among the heaviest issues traded on Wall Street today was Cleveland-based National City Corp. ideastream®'s Rick Jackson reports.

Over 8,000 Ohio Borrowers Could See Relief from Countrywide Settlement
Regional News Stories: Monday, October 6, 2008
Ohioans with Countrywide mortgages may be eligible for interest rate freezes or cuts in their principal thanks to a settlement announced Monday. Countrywide Financial's new owner, Bank of America, announced the agreement with 11 state attorneys general, including Ohio's. More than 8,000 Ohioans with Countrywide mortgages could benefit from the program. ideastream®'s Mhari Saito reports.

Is National City Up for Sale?
Regional News Stories: Thursday, October 9, 2008
National City bank still isn’t commenting about a report that it's looking for a buyer. This isn't the first time National City has been rumored to be up for sale, but this time the circumstances are different. ideastream's Gretchen Cuda reports.

Mortgage Fraud Indictments Handed Down for Cleveland’s Foreclosure Epicenter
Regional News Stories: Wednesday, October 15, 2008
Cleveland's Slavic Village neighborhood has made international headlines with foreclosure rates that are among the highest in the country. Three people believed to be responsible for some of those foreclosures are now facing an indictment for $5.8M million dollars in mortgage fraud. ideastream®'s Mhari Saito reports.

Slavic Village Foreclosure Areas To Get Help
Regional News Stories: Friday, October 17, 2008
ideastream's Mhari Saito reports. Late last year, the Cleveland neighborhood of Slavic Village made headlines when REalty Trac, an online marketer of foreclosure properties, named it the hardest hit area for foreclosures in the country. Now, Cleveland leaders are hoping Slavic Village will make new headlines for pioneering a public/private model for cleaning up the damage from the foreclosure crisis. At a press conference, Cleveland Mayor Frank Jackson announced a 3 year plan to do intensive redevelopment and demolition in targeted areas in 6 city neighborhoods. Frank Jackson: We don't want to just invest for the moment. We have to invest for the future. And sustainability, green standards...these are the things of the future. Financing for the project comes from the state Ohio Financing Agency, local and national nonprofits, and KeyBank. In the first year, the city aims to demolish 100 structures and redevelop 121 others for resale. Mhari Saito, 90.3.

Nat City: More Losses; Job Cuts Nationwide
Regional News Stories: Tuesday, October 21, 2008
Cleveland-based National City is cutting 4,000 jobs nationwide. It's part of the bank's strategy to continue to protect itself from five straight quarters of financial losses from subprime and home construction loans. No word yet on how many jobs would be lost here in the region. Nat City employs 7,800 Northeast Ohioans. ideastream®'s Mhari Saito reports.

Pittsburgh’s PNC Financial to Buy Cleveland’s National City
Regional News Stories: Friday, October 24, 2008
The latest bank to fall prey to the subprime and credit crisis is one of ours. Pittsburgh-based PNC Financial announced a deal to buy Cleveland's National City Corp this morning. There's no word on exactly how National City jobs will be affected by the $5.6 billion dollar deal, but the forecast is not good. Many industry analysts believe it was the federal government that pushed the deal through. ideastream®'s Mhari Saito reports.

Most National City Jobs Safe Says PNC
Regional News Stories: Monday, October 27, 2008
The Sale of National City to Pittsburgh- based PNC Financial Services has many of the Cleveland bank's employees wondering whether their own jobs are safe. ideastream's Gretchen Cuda reports.

Understanding the National City Sale
The Sound of Ideas: Tuesday, October 28, 2008
There are a lot of questions about National City's sale to Pittsburgh-based PNC, but one aspect of this is crystal clear: with the Treasury now in the business of picking winners and losers, the local bank is definitely not a winner. PNC's $5.6 billion purchase of what was Cleveland's biggest bank may alter the economic outlook for Ohio as surely as it alters the outlook for the bank's 4,000 local employees. We'll find out how and why it happened and what it says about how the Treasury will operate in the days ahead. Join us Tuesday morning at 9.

Final Players in One Solon Mortgage Fraud Scam Sentenced
Regional News Stories: Thursday, October 30, 2008
The final player in a mortgage fraud case that devoured several dozen houses in some of Cleveland's nicest neighborhoods has been given five years in prison. ideastream®'s Mhari Saito explains a case that involved more than a half dozen people and 38 houses in Solon and Glenwillow.

Rally Protests the Sale of National City Bank
Regional News Stories: Friday, November 21, 2008
A group of Northeast Ohio protestors rallied in downtown Cleveland Friday afternoon demanding that federal officials block the sale of National City Bank to Pittsbugh-based PNC Financial Services. ideastream®'s David C. Barnett has more.

The Recession of 2008
The Sound of Ideas: Wednesday, December 31, 2008
It started back in 2007, maybe even earlier, with the sub-prime mortgage crisis, and initially many economists and bankers called it an isolated isolated issue. The problem snowballed in 2008, and started taking down major financial institutions, eventually including Cleveland's own National City Corporation. The federal government sprang into action with a controversial bailout plan. Then the American auto industry started teetering. Now, many fear national unemployment numbers could reach double digits. How did we get here? We turn again to two local economists who have been helping us understand the crisis all year. Join us Wednesday morning at 9.

Key, Fifth Third and Huntington Banks Post 4th Quarter Losses
Regional News Stories: Thursday, January 22, 2009
Fifth Third led the pack, losing 2.2 billion dollars in the three month period beginning October 1, 2008.

Stories From the Line: NE Ohio Builders Struggle to Survive
Regional News Stories: Friday, January 30, 2009
New home construction plunged to an all time low in December. The Commerce Department says 2008 was the worst year for builders since 1959. This latest economic jolt comes after several years of a slowing real estate market in Northeast Ohio. As part of our ongoing series, Stories from the Line, ideastream®'s Mhari Saito talks with local builders about how they are coping with the economic crunch.

PNC Announces Job Cuts, Most From National City
Regional News Stories: Tuesday, February 3, 2009
PNC Group of Pittsburgh announced today it's eliminating 5,800 jobs, largely by consolidating staff and services with those of National City Bank. ideastream®'s Bill Rice reports

NE Ohio Foreclosure Advocates Study Obama Mortgage Plan
Regional News Stories: Wednesday, February 18, 2009
President Barack Obama's proposed mortgage plan claims to be able to help millions of Americans who owe more than their house is worth or are facing foreclosure. The White House on Tuesday held a conference call with housing advocates in northeast Ohio to discuss the plan. Cuyahoga County has long been considered one of the epicenters of the foreclosure crisis. ideastream®'s Mhari Saito reports.

Help for the Housing Market
The Sound of Ideas: Tuesday, February 24, 2009
President Obama recently unveiled his Homeowner Affordability and Stability Plan designed to stem the tide of foreclosures. Thousands in Northeast Ohio are in trouble. Who will this plan help? Mr. Obama says it's aimed at responsible homeowners, but some question whether the plan will also reward people who took on more home than they could handle. Guest host, Tamara Keith, who frequently covers business news for NPR in Washington, will be joined by housing and mortgage experts to examine the President's foreclosure prevention plan and how it matches up with the realities on the ground. Also new tax credits for home buyers and other efforts to get the housing market back on track.

Banks Refuse to Take Back Houses They Foreclosed on
Regional News Stories: Tuesday, March 3, 2009
Let's say you're one of the millions of Americans facing foreclosure. You made mistakes, borrowed more than you could afford, and walking away from the house is now your best financial option. But in Cleveland, some homeowners are finding they are still on the hook for houses they thought had been taken back by the bank. ideastream®'s Mhari Saito reports.

Help for Harried Homeowners
The Sound of Ideas: Wednesday, March 18, 2009
Cuyahoga County continues to lead the state in foreclosures with nearly 14,000 new filings last year. Meanwhile, Lorain County has the fastest five-year growth rate in foreclosures among urban counties while Summit county actually saw a decline of 16% in its foreclosures in 2008. President Obama’s Making Home Affordable plan is meant to help some of them and more who are at risk of foreclosure… some 9 million Americans. On The Sound of Ideas, housing industry experts join us to talk about what help is available for struggling homeowners, how to get it before it’s too late, and warn about new rescue scams. Real help for real people, tomorrow on 90.3.

February Home Sales Fall 20 Percent From 2008
Regional News Stories: Monday, March 23, 2009
The numbers of people buying homes in Ohio continued to slide in February. ideastream®'s Mhari Saito has the latest stats from the Ohio Association of Realtors.

Public and Private Sectors Offer Deals to Get Homebuyers Buying
Regional News Stories: Monday, March 30, 2009
Starting March 30, the state of Ohio is offering low and middle income home buyers zero interest loans for down payments on a house. It's just one of a growing array of enticements to get consumers to buy a house. ideastream®'s Mhari Saito reports.

Ohio Banks Report First Quarter Earnings
Regional News Stories: Tuesday, April 21, 2009
Banking numbers for the first quarter are being released this week, and banks in Ohio are thus far, not faring well. ideastream®'s Rick Jackson reports.

New Cleveland Company Wants To Be National “Clearinghouse” For Foreclosures
Regional News Stories: Tuesday, May 5, 2009
The city of Cleveland is getting over $25 million in federal tax dollars to deal with the aftermath of the foreclosure mess. And more federal funds could be on the way. The question now is how cities and counties can get the best deals on foreclosed properties from lenders and bond investors. As part of ideastream's ongoing series, "Facing the Mortgage Crisis, Mhari Saito reports a new Cleveland-based for-profit company wants to become the middleman in that process.

Upside/Downside: Local Analysis of Stress Test Results for Ohio Banks
Regional News Stories: Friday, May 8, 2009
A number of our region's biggest banks have gotten word from the government that they need to raise more money. The results of the "stress tests" found that KeyCorp needs to raise $1.8 billion, PNC needs to raise $600 million and Fifth Third must raise $1.1 billion. The government says the extra money is needed to protect the banks should the economy get much worse. Kevin Jacques is a professor of finance at Baldwin Wallace College. He's a former economist specializing in banking issues with the Treasury Department. He spoke with ideastream®'s Eric Wellman.

Lenders Look for New Ways to Reach Buyers of Bank-Owned Houses
Regional News Stories: Monday, May 11, 2009
Cleveland's Amtrust Bank has been struggling with bad commercial and home loans in former boom states like California and Arizona. As of last summer, 7 percent of its loans were in trouble as borrowers were late on their payments. That's more than three times higher than the delinquency-rate-average among banks. Amtrust has laid off hundreds of staff, sold off assets, and filed a recovery plan in order to meet a stern federal warning. As part of our series, "Facing the Mortgage Crisis," ideastream®'s Mhari Saito reports on how Amtrust, and other lenders, are becoming very inventive in efforts to sell off the remains of the foreclosure mess, the houses they now own.

Fed Gov in Cleveland: Consumer Protections Needed in Mortgage Industry
Regional News Stories: Wednesday, June 10, 2009
Federal Reserve Governor Elizabeth Duke is in Cleveland today and told a packed auditorium that borrowers won't regain trust in the financial system without some additional legal protections. As part of our continuing coverage of Facing The Mortgage Crisis, ideastream®'s Mhari Saito reports.

Six Sellers Indicted in Slavic Village Mortgage Fraud Case
Regional News Stories: Tuesday, June 16, 2009
Cuyahoga County's Mortgage Fraud Task Force has quietly indicted six more people in the ongoing investigation into a massive mortgage fraud scheme in Cleveland's hard hit Slavic Village neighborhood. As part of our ongoing series, Facing the Mortgage Crisis, ideastream®'s Mhari Saito reports.

Mortgage Modification Event Prompts Mixed Reactions
Regional News Stories: Thursday, July 23, 2009
It's the best of times...it's the worst of times. That Dickens line pretty well sums up the mixed reactions of Northeast Ohioans who attended an event to help at-risk homeowners this past week. N.A.C.A., the Neighborhood Assistance Corporation of America --- a Boston-based group --- came here to fast-track mortgage modifications. As a part of our on-going coverage, "Facing the Mortgage Crisis", ideastream®'s David C. Barnett tagged along.

CSU Study: Cleveland House Prices Dropping, Suburbs Holding
Regional News Stories: Tuesday, August 4, 2009
In the aftermath of the mortgage crisis, statistics on home values are a worry for many homeowners throughout Northeast Ohio. But they don't necessarily give a true measure of a single home's actual worth. Foreclosed properties drive down average and median home prices; but when you separate them out, the picture can look a lot different. A new study out of Cleveland State University does just that. ideastream®'s Mhari Saito reports.