The company’s success is due in part to responsible lending, which led to organic growth, and small to midsize institutional investors,” said Cutillo.
Fishers, IN (PRWEB) June 27, 2011
Stonegate Mortgage Corporation has been named the second fastest-growing private company in the Indianapolis area by the Indianapolis Business Journal. To compile its list of the 25 fastest-growing private companies, the IBJ considered company growth and revenue from the past three years, verified by third party data.
Founded in 2005 by Chief Executive Officer Jim Cutillo, Stonegate has experienced substantial growth since 2008 and expects to double its revenue in 2011. “Acquiring loan originators in markets outside of the company’s current footprint, and continuing to buy third party origination loans from banks, mortgage companies and credit unions are key factors in Stonegate’s future growth and expansion,” said Cutillo.
Upon making the number two spot on the IBJ’s list, Cutillo credits Stonegate’s achievement to never offering sub-prime loans and the exit of two thirds of the mortgage industry’s competition, leaving more market share available to Stonegate. “The company’s success is due in part to responsible lending, which led to organic growth, and small to midsize institutional investors,” said Cutillo.
Included in the company’s expansion plans is a commitment to hire 300 employees in Indiana by 2015 and the relocation of its Fishers headquarters late summer or early fall to a new 30,000 square foot space on the north side of Indianapolis.
About Stonegate Mortgage Corporation
Founded in 2005, Stonegate Mortgage Corporation is one of the top 25 independently-owned mortgage servicers in the United States and is a leading originator of government-sponsored enterprise (GSE) and government-insured (FHA, VA and USDA) loans. Stonegate assists clients in purchasing and refinancing homes through a variety of mortgage products, and also acquires wholesale and correspondent loans in 17 mid-western states.
For more information about Stonegate Mortgage Corporation, go to http://www.stonegatemtg.com.