Stonegate Mortgage profit slows in third quarter
In its first quarter as a public company, the Indianapolis-based residential mortgage firm reported a big year-over-year dip as rising interest rates made the market more volatile.
In its first quarter as a public company, the Indianapolis-based residential mortgage firm reported a big year-over-year dip as rising interest rates made the market more volatile.
Although area sales are up 16 percent through the first 10 months of the year, the trend has slammed into reverse in recent months amid higher mortgage rates and tighter inventories.
The local rest estate investment firm says it will use some of the proceeds to repay debt and the rest to fund part of its recent $307 million purchase of nine Southern retail properties.
The move includes a $45 million investment for Lilly's operations in Indianapolis, on top of $400 million in investments the company announced over the past two years.
The Central Indiana Regional Transportation Authority has hired a native Hoosier as executive director, replacing outgoing leader Ehren Bingaman, CIRTA announced Wednesday.
The former two-time mayor is better known for politics and public policy, but he spent many of his early years working in his family’s commercial real estate company.
The Indianapolis City-County Council voted 22-6 on Monday night to pass a resolution urging the Indiana General Assembly to vote against the proposed same-sex marriage amendment.
A skirmish in the ongoing legal war between hardware store magnate John Menard and former business partner Stephen Hilbert will arise in open court on Tuesday, as a trial begins between one of Menard's companies and former model Melania Trump.
City-County Resolution 354, co-sponsored by Democrats John Barth, Angela Mansfield and Zach Adamson, and Republican Benjamin Hunter, will be voted on by the full council Monday.
Attorneys for the Fair Finance trustee said Tim Durham's ex-wife, Joan SerVaas, has agreed to pay $100,000 and Bernard Durham, his adopted son, $10,000 to settle a lawsuit charging they accepted nearly $300,000 from the disgraced financier.
The company said it has entered into agreements to open 45 stand-alone take-n-bake pizza locations.
Shelbyville-based Chocolate for the Spirit is opening a retail storefront in Carmel in time for the holiday shopping season.
Former Marsh Supermarkets Inc. executive Bill Marsh has joined the Indianapolis office of Colliers International as vice president of retail services.
The implosion of the once-powerful Carmel Redevelopment Commission doesn’t look good in the headlines, but the turmoil has a silver lining. It should end a period in Carmel’s history when fast physical transformation of the town seemed to be leadership’s only concern.
Cummins Inc., 500 Jackson St., Columbus, Ind. 47202 (www.cummins.com) designs and manufactures diesel engines for automotive and industrial markets. It also provides filtration, exhaust and electronics systems, natural gas engines and engine components. For the nine months ended Sept. 29, the company reported a profit of $1.05 billion, or $5.60 per share, on $12.7 billion […]
PolyOne’s Designed Structures and Solutions division in Warsaw will begin terminating employees Jan. 6, the company said in a filing received Thursday by the Indiana Department of Workforce Development.
Republic Airways Holdings Inc. on Wednesday said it was going forward with the $145 million sale of Frontier Airlines. It also announced a third-quarter loss of $13.8 million.
A comparison of the convention and tourism businesses.