Stonegate Adding Hundreds of Mortgage Jobs

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MORTGAGE EXPERT
3 · 04 · 14

With a recent initial public offering, multiple acquisitions and an expansion of its staff, Stonegate Mortgage Corp. had already established itself as a high-profile growth company. Now the firm has even more growth plans.

Stonegate completed an initial public offering in October 2013 that was expected to provide it with north of $136 million.

Since that time it has acquired Crossline Capital Inc., Medallion Mortgage Co. and Nationstar Mortgage Holdings Inc.’s wholesale lending business.

In addition, plans were announced last month for the Indianapolis-based firm to open a regional headquarters in Clearwater, Fla., and hire 139 new employees for the location.

On Tuesday, the Indiana Economic Development Corp. said in a news release that Stonegate expects to expand its headquarters in central Indiana.

Stonegate plans to invest $6.2 million for new space in Carmel.

The move is expected to lead to the hiring of up to 400 new employees by 2017. Current headcount at the lender is 1,100.

“In December of 2010, we announced the creation of 300 jobs in Indiana by 2015, with the help of the Indiana Economic Development Corp,” Stonegate Mortgage Founder and Chief Executive Officer Jim Cutillo said in the announcement. “We are pleased to report that we have exceeded that target.”

During just December, 310 Indianapolis jobs were added by the rapidly growing company.

Stonegate could receive as much as $4.8 million in conditional tax credits and nearly $0.2 million in training grants depending on how many Indiana jobs it creates.

Mortgage Expert

Mortgage Daily Staff

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