Stonegate Mortgage reports big second quarter loss
The Indianapolis-based company’s CEO attributed the $17.2 million loss to “continuing volatility within the financial markets.”
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Hofmeister faces $2.4M suit over Clearwater jewelry store
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 shares slip after firm reports major revenue slide
Stonegate Mortgage Corp. kicked off 2016 in a slump, disappointing Wall Street with a steeper-than-expected revenue decline and a first-quarter loss.
Stonegate Mortgage president gets keys to CEO’s office
The Indianapolis mortgage firm has promoted James Smith to the top spot vacated last year in an abrupt resignation by its founder.
Indiana Bar Foundation gets $7M from mortgage settlement
The Indiana Bar Foundation will only be able to use its settlement funds for programs covering mortgage foreclosures and community development, foundation leaders said.
Bill would weaken protections for homeowners in foreclosure
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.
Defying Fed hike, mortgage rate remains below 4 percent
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.
Lender discrimination might be bankrupting black churches
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.
Sale might provide salvation for Stonegate investors
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.
Mortgage, auto loans push household debt to 5-year high
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.
Stonegate Mortgage’s third-quarter loss more than expected
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.
Obama officials resist call to release mortgage giants
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.
CEO’s abrupt exit raises questions about Stonegate’s future
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.
Stonegate misses profit mark despite revenue jump
Stonegate Mortgage Corp. saw big increases in revenue and profit in the second quarter, but the financial performance didn’t hit the expectations of analysts.
Land near hot Fishers interchange set for sale after default
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 quarterly results top expectations
Stonegate Mortgage Corp. reported quarterly earnings that exceeded analyst expectations Wednesday, but its revenue fell well short of predictions.
Bill addressing foreclosure-prevention options under fire
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.
Indy’s federal home loan bank still admitting REITs
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 to move HQ out of state after $4B acquisition
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.
Stonegate Mortgage closes 2014 with tough quarter
Stonegate Mortgage Corp. finished 2014 with a money-losing quarter that fell short of Wall Street expectations.