The StoneHill Group wants to help more mortgage companies, banks and credit unions operate with greater cost-efficiency as the lending space gets tougher and tougher.
For example, according to its Annual Mortgage Bankers Performance Report, independent mortgage banks and mortgage subsidiaries of chartered banks made an average profit of $711 on each loan they originated in 2017, down from $1,346 per loan in 2016.
"For many, the best option is to outsource some or all of their origination work to The StoneHill Group." The StoneHill Group Founder and CEO David Green said. "Once they do, they can stop worrying about whether they have enough staff, and they can rest assured that their critical processes will be completed on time and within budget."
The company is now licensed in 19 states and counting.
The company can provide complete underwriting and processing support in Alabama, Arizona, Arkansas, California, Colorado, Florida, Georgia, Illinois, Maryland, Michigan, Montana, New Jersey, North Dakota, Ohio, Oregon, Pennsylvania, Tennessee, Virginia and Washington, D.C, the company said in this statement.
The Stonehill Group is awaiting license approvals in South Carolina, Texas, and Washington state.