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.
Mortgages
Articles
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.
Stonegate shares shellacked after third-quarter loss
Shares of Stonegate Mortgage Corp. sank 18 percent in trading Thursday after the firm reported third-quarter losses of $1.7 million and missed Wall Street estimates by a wide margin.
Forecast for 2015: Strategist says economy has juice
A Fifth Third Bank expert told attendees at IBJ's 2015 Economic Forecast on Thursday that the business cycle is maturing but still has some oomph left in it.
U.S. home sales eke up in September, credit stays tight
Average 30-year mortgage rates have tumbled below 4 percent, but it remains difficult to qualify for financing.
New rules adopted in hopes of spurring home loans
With the financial crisis and subprime mortgage bust receding further into history, the government is loosening some financial rules, hoping to inject more life into the country's still-recovering housing market.
Cutillo ramrods entrepreneurship at Stonegate
Jim Cutillo, co-founder of the fast-growing mortgage company, pushes with military intensity.
Supreme Court takes up housing bias case
The justices agreed Thursday to take up a case that challenges the theory that certain housing or lending practices can illegally harm minority groups, even when there is no proof of intent to discriminate.
Mortgage firm to expand to Westfield, add 360 jobs
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.
Lender files to foreclose on downtown’s Villagio condos
First Horizon Home Loans claims the owner of the Villagio at Page Pointe still owes nearly $5.2 million on an $11.6 million loan and is asking a court to appoint a receiver to manage the property until it’s sold.
Lender forecloses on two downtown office buildings
The Gold Building and Two Market Square have been struggling to maintain tenants and face a potential exodus of others to the county’s proposed criminal justice complex.