A borrower who took out a 30-year, $200,000 mortgage in 2018 at an interest rate of 4.55% would have a monthly payment of $1,019. By refinancing into a 30-year mortgage with a 3.46% interest rate, the monthly payment would drop to $865.
The mortgage industry has added almost 5,000 employees since March. It’s a stark reversal from a year ago, when the Federal Reserve was hiking interest rates and banks were cutting thousands of jobs.
The deal would mark the end of Indianapolis-based Stonegate’s stint as a public company, which has largely disappointed investors since its IPO in 2013.
The U.S. Supreme Court has sided with the Obama administration in upholding a rule making mortgage brokers eligible for overtime pay under federal labor law.
California-based Carrington Mortgage Services said Thursday it plans to spend $3.2 million to open an office in Westfield. In addition to the new hires, about 180 employees in Fishers would move to the Westfield location.
Stonegate Mortgage—potentially the first company in Indianapolis to go public since ExactTarget in 2012—plans to entice investors with a nationwide expansion, a diversified income stream, and the prospect that federal reforms will benefit such loan aggregators.
Local mortgage industry executives say record-low interest rates aren’t leading to a big boom in business because broader economic issues are keeping large parts of the population from seeking or qualifying for loans.
Tree.com Inc., the Charlotte, N.C., parent of LendingTree.com, said its Carmel office will shut down by Aug. 16, costing 64 employees their jobs.
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 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.
Instead of buying and selling, investors with ready cash are buying houses at substantial markdowns, turning them into rental
properties and sitting tight until the market improves.