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Fast Growing Firm On Track to Grow by 300 Employees

Stonegate announces headquarters relocation

Nov. 15, 2011

By MortgageDaily.com staff


The company that claims to be the fastest-growing independent mortgage firm in the country has been adding employees and expanding its office space.

Nearly a year ago, Stonegate Mortgage Corp. negotiated a deal with the Indiana Economic Development Corp. to create 300 new mortgage jobs by 2015. The agreement called for the lender to receive up to $3.7 million in performance-based tax credits and $50,000 in training grants.

Among the jobs Stonegate planned to fill were loan officers and branch managers.

At the time, the Fishers, Ind.-based company employed 162 people, including 88 in Indiana.

Since then, Stonegate has relocated its headquarters to Indianapolis where it can house the expanded staff.

The company said in a news release Tuesday that it has hired 45 employees so far this year. The new employees earn an average salary of $46,395.

Over the past three years, hirings reportedly totaled 183 employees.

Residential originations have surpassed $2 billion since 2008, according to the announcement. The servicing portfolio exceeds 7,000 mortgages for more than $1.0 billion.

Stonegate Chief Executive Officer Jim Cutillo attributed the firm's "tremendous success" to its ability to "attract the best and the brightest, our focus on leveraging technology to provide superior customer experience, and our steadfast commitment to responsible lending."

The statement indicated that Stonegate was named the fastest-growing independent mortgage company in the country by Inc. magazine. In addition, the Indianapolis Business Journal reportedly ranked it as the second fastest growing private company in Indianapolis.


Related:
Hirings Generate Millions in Incentives
Economic incentives in Indiana have an expanding lender adding 300 new jobs in the state.

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