HousingWire reveals the 50 fastest-growing companies in housing economy

HousingWire reveals the 50 fastest-growing companies in housing economy

Inaugural 2014 HW Fast50 ranks public, private companies on revenue growth

Chinese investors remain an X Factor for the US housing market

So what does this mean for homeowners and buyers?

Judge throws out Fannie and Freddie investors’ lawsuit

Decision favors Federal government
W S
Lending

Stonegate Mortgage finalizes purchase of Crossline Capital

home loans chalk
/ Print / Reprints /
| Share More
/ Text Size+

Mortgage servicer and originator Stonegate Mortgage Corp. finalized its purchase of mortgage lender Crossline Capital on Friday, in a move that effectively expands its retail channel and grows its geographic area.

The deal is in line with the firm’s ongoing growth strategy.

Crossline is licensed to originate home loans in 20 U.S. states and operates two mortgage origination call centers in Lake Forest, Calif., and Scottsdale, Ariz., while also operating retail mortgage origination branches in seven other locations throughout Southern California.

Stonegate’s acquisition target originated $572 million in mortgage loans in 2012 and $374 million in home loans during the first nine months of 2013.

"Stonegate is committed to expanding our retail mortgage origination footprint through strategic acquisitions that will enable us to provide services directly to the consumer," said Jim Cutillo, Chief executive officer of Stonegate Mortgage.

Prior to the acquisition, Crossline was financing loans through Stonegate through its NattyMac subsidiary.

"Now with this acquisition, we will have access to Stonegate's additional capital and the ability to implement their technology, which is key for us to continue our long-term growth and success,” said Tim Elkins, CEO of Crossline Capital.

Comments powered by Disqus