Stonegate Mortgage acquires Nationstar wholesale lending channel
Expands geographical footprint
Indianapolis, Ind.-based Stonegate Mortgage Corporation (SGM) completed the acquisition of the wholesale lending channel and certain distributed retail assets from Nationstar Mortgage Holdings, the lender announced.
The new addition to Stonegate adds more than 200 employees associated with these businesses and enables the firm to expand its wholesale and retail client base by expanding the geographies, third-party originators and customers it can serve.
“It continues to be an exciting time at Stonegate Mortgage. This acquisition reflects our ongoing growth strategies, as we continue to build our national presence,” Jim Cutillo, CEO of Stonegate Mortgage, said.
“We remain committed to delivering a superior customer experience in all aspects of our business. These changes enhance our commitment and allow us to remain leaders in the mortgage marketplace,” he added.
With the new acquisition, Stonegate Mortgage added several new senior managers, including Kevin McCafferty, who will now lead Stonegate's third-party origination channels as executive vice president.
In addition, Fred Bolstad will become Stonegate’s executive vice president and national sales manager with responsibility for retail.