IBJ Podcast: Pete the Planner on the magic of a 15-year mortgage
Peter Dunn talks to guest host Lesley Weidenbener about all things home buying, including mortgages, determining how much house you can afford, why you shouldn’t put down less than 10% and why the idea of starter homes and family homes is silly.Read More
Record unemployment caused by the coronavirus pandemic led to the largest one-month increase in mortgage delinquencies ever recorded.
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 administration’s plan calls for returning Fannie and Freddie to private ownership and reducing risk to taxpayers, while still preserving homebuyers’ access to 30-year, fixed-rate mortgages, a pillar of housing finance.
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 Fed's updated forecast projects just two rate hikes next year, down from three that monetary policy body had predicted in September.
Vice President Mike Pence’s chief economist, Mark Calabria, is a leading candidate to replace Federal Housing Finance Agency Director Mel Watt, a Barack Obama appointee who has led the regulator since President Donald Trump took office.
NattyMac, which was established in 2004, has a historical connection with Indianapolis and was sold to its current owner in 2017 for $211 million.
With the economy strong, wages rising and unemployment at a near-five-decade low, the Federal Reserve remains on track to keep raising interest rates — just not this week.
Wells Fargo is one of the last remaining big banks to settle charges related to its role in the subprime mortgage crisis.
The potential $1 billion fine would be largest ever imposed by the Office of the Comptroller of the Currency, the bank's main national regulator, and the Consumer Financial Protection Bureau, the federal watchdog bureau.
The Carmel-based financial company also announced promotions for two other top executives.
Though widely expected to raise rates this week, Fed policy makers are being pulled in two directions by a spirited drop in unemployment this year and a surprisingly listless reaction in wages and prices.
The sale marks the end of Stonegate’s stint as an Indianapolis-based public company. A number of Stonegate executives resigned from their positions just prior to the completion of the merger.
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.
A Dallas mortgage company accuses Carmel banker Michael Petrie of launching a "delberate and vindicative campaign" to try to drive it out of business. But a separate lawsuit against the Dallas firm tells a different story.
The 100,000-square-foot building on Keystone Avenue once served as the headquarters for the landscape firm Mainscape Inc.
Moody’s Corp. has agreed to pay almost $864 million to resolve a multiyear U.S. investigation into credit ratings on subprime mortgage securities. Indiana is one of 21 states getting some of the settlement.
New projections show the central bankers expect three separate quarter-point rate increases in 2017, up from the two seen in the previous forecasts.
Stonegate Mortgage Corp. on Thursday reported a third-quarter profit of $15.6 million in the third quarter after revenue jumped 159 percent from a year ago.