SettlementOne, a national credit-reporting and mortgage-data company, has moved its headquarters from San Diego to downtown Indianapolis, where it plans to hire more than 225 workers before the end of 2021.
The 22-year-old company plans to spend nearly $3.6 million on the relocated headquarters and operations center in the Landmark Center at 1099 N. Meridian St.
CEO Tom Hurst said 13 of the company’s 55 employees are already working in a 7,000-square-foot office space at the Landmark Center. The firm has secured another 18,000 square feet in the building to handle the expected growth.
SettlementOne assists mortgage brokers and banks with lending, credit reporting and data verification using software and other secure technology. It says it is one of the nation's fastest-growing suppliers of mortgage data and valuation services for financial institutions.
Hurst, an Indiana State University graduate, has spent his entire professional career at financial companies based in Indianapolis, so he began making plans to move SettlementOne to Indiana as soon he was hired as CEO a year ago.
"When SettlementOne reached out for me to be CEO in 2017, there was no debate,” he said. “I’m an Indiana guy. We've been able to hire additional tech talent here, and that's a major driver to stay in Indianapolis.”
Hurst was president of Assurant Inc.’s valuations and mortgage technology business from 2011 to 2016. Before that, he cofounded and helped lead StreetLinks Lender Solutions, which employed more than 400 people in offices in Indianapolis, Florida and Wisconsin. He also spent eight years in executive roles with Superior Appraisal Services.
The Indiana Economic Development Corp. has offered Settlement One $1.1 million in tax credits based on its plan to hire 227 more workers by the end of 2021. The incentives are performance-based, meaning the company is not eligible to receive them until workers are hired.
The IEDC also offered the company up to $100,000 in training grants.
The company plans to hire mortgage appraisal coordinators, customer service representatives and inside sales representatives.
Hires in those positions could start work in the next two weeks, Hurst said the first stage in making more jobs available to Indianapolis. In 2019, the company plans to begin filling other executive and tech-talent positions.
SettlementOne is owned by Las Vegas-based private equity firm SNH Capital Partners.