twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
Corporate Mortgage News
M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.


Growing Firm Scores Venture Capital Investment

Second Curve invests in Stonegate Mortgage

March 12, 2010

By MortgageDaily.com staff


A growing mortgage lender and servicer announced an equity investment by a venture capital firm. During the last few years, the Indiana-based mortgage company has acquired two other companies, expanded its retail branch program and pushed headcount past 100.

In a news release today, Stonegate Mortgage Corp. said it received an equity investment from a private equity firm out of Indianapolis.

That firm is Second Curve Partners LLC, which says it works with small to moderate-sized companies to develop growth strategies.

The amount and terms of the investment were not disclosed.

Stonegate, based in Fishers, Ind., says its beginning can be traced back to Ohio in 1964.

In 2007, it acquired mortgage broker 1st Signature Lending -- bringing its production to around $100 million annually. In June 2009, Stonegate acquired Swain Mortgage Co., a Mansfield, Ohio-based servicer with a servicing portfolio of more than 2,000 loans for $175 million. By the time of the Swain acquisition, annual volume had grown to $400 million.

Stonegate expanded its affiliate mortgage banking program outside of Indiana in 2008. The program was described as a hybrid retail model that provides wholesale pricing and creates multiple revenue opportunities for affiliate branches
.

Today, Stonegate reports more than 100 employees.

The company's president, Jim Cutillo, reportedly was a GMAC Residential Funding director, while other executives at the firm have included the former chairman of the Mortgage Bankers Association and former executives from IndyMac Bank and Waterfield Financial.

Stonegate "is ranked as one of the largest mortgage lenders in the State of Indiana" and one of the largest privately held lenders in the central part of the country, today's statement said. The company reportedly is licensed in 14 states and approved as a lender by Fannie Mae, Ginnie Mae and the Federal Housing Administration.

"We invest in companies that have a solid business model, strong management teams and the opportunity for exponential growth," Second Curve Principal Scott Mumphrey said in the statement. "Stonegate meets all three."

Mumphrey said Stonegate has managed to grow and stay profitable during one of the most challenging periods for the mortgage industry.

Stonegate Mortgage news

next story

back to current headlines

The Mortgage Graveyard
Failed, closed and a c q u i r e d mortgage-related entities.



Mortgage Branch News | Net Branch | Mortgage Branch Directory
Coverage of new and existing net branch operations. Programs, payouts and other details. Profiles of brokers and net branch lawsuits.



SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders