Property records from Kentucky, Florida and Rhode Island show that former University of Louisville dean Robert Felner owns four houses, two of them with his wife, Marilyn, who recently filed for divorce.
They are paying a combined $1.96 million in mortgage payments, record show.
The Felners bought this $318,000 split-level house in Narragansett, R.I., in 2002, putting down $64,000.
Felner also owns a black 2005 BMW and a white 2005 Lexus, according to AutotrackXP, a commercial database, and a powerboat...
Felner was paid $174,000 in 2003, his last year at the University of Rhode Island, and $255,757 a year when he resigned from U of L, according to the universities. His wife, a systems support technician at the University of Rhode Island, makes $44,362 a year.
Mortgage experts, including David Kittle of Louisville, who is chairman-elect of the national Mortgage Bankers Association, say that a couple with a combined income of about $300,000 a year wouldn't qualify for mortgages totaling nearly $2 million, unless one or more of the properties produced income through rent.