Borrowers whose mortgages were foreclosed upon between 2008 and 2012, with servicing abuses by HSBC, are eligible for part of the $470 million federal-state settlement with the lender.
The Indianapolis-based company’s CEO attributed the $17.2 million loss to “continuing volatility within the financial markets.”
The foreclosure lawsuit is the latest legal problem for the 43-year-old retailer, which is still trying to pay off debt from a Chapter 11 bankruptcy it filed in 2011.
Stonegate Mortgage Corp. kicked off 2016 in a slump, disappointing Wall Street with a steeper-than-expected revenue decline and a first-quarter loss.
The Indianapolis mortgage firm has promoted James Smith to the top spot vacated last year in an abrupt resignation by its founder.
The Indiana Bar Foundation will only be able to use its settlement funds for programs covering mortgage foreclosures and community development, foundation leaders said.
Banks support proposed state legislation that could prevent Hoosier homeowners from using a settlement process to avoid foreclosure. But the sponsor of a bill with the controversial provision says he will strike it.
One week after the Federal Reserve raised short-term interest rates from record lows, the average on a 30-year fixed-rate mortgage went the other way.
Of the 654 congregations to file for bankruptcy protection between 2006 and 2013, 60 percent had black pastors or predominantly black membership, according to an associate professor at the Indiana University Maurer School of Law.
After a rocky two years as a public company, perhaps the best path forward for Stonegate Mortgage Corp.—now that the board has given the company’s CEO and founder his walking papers—is to pull the rip cord and sell the business.
Accelerating increases in auto loan debt and mortgage credit helped propel total borrowings of U.S. households to the highest level since the first quarter of 2010, the Federal Reserve Bank of New York said Thursday.
The Indianapolis-based non-bank mortgage company took a loss of $22.8 million in the third quarter as revenue fell 45 percent from a year ago.
The U.S. owns nearly 80 percent of Fannie Mae and Freddie Mac, and investors have been pressing the administration to unwind a 2012 decision to sweep their profits to the Treasury Department.
Stonegate Mortgage didn’t give a reason for the sudden resignation of CEO Jim Cutillo, who founded the company in 2005. The surprise exit prompted analyst speculation that the Indianapolis-based company might be preparing to put itself up for sale.
A couple of months after the sheriff's sale of the Fishers Banquet and Conference Center, an adjacent property with the same owners also is headed to auction.
Stonegate Mortgage Corp. reported quarterly earnings that exceeded analyst expectations Wednesday, but its revenue fell well short of predictions.
An Indiana law that has helped thousands of residents at risk of foreclosure keep their homes could be "gutted" under a bill being considered by state lawmakers, housing advocates say.
The Federal Home Loan Bank of Indianapolis is again admitting mortgage-investment firms as members, even as the overseer of the government-chartered system of 12 regional lenders considers barring such companies.
Springleaf Holdings Inc.,a consumer lender that went public in 2013, plans to move its headquarters from Indiana to Connecticut after buying subprime lender OneMain Financial for $4.25 billion in cash.