Stonegate Spins-Off Mortgage Advisor Group

Posted: Updated:

Indianapolis-based Stonegate Mortgage Corp. (NYSE: SGM) has formed a new division. Stonegate Direct will provide consumers with around-the-clock access to mortgage advisors. October 1, 2014

News Release

INDIANAPOLIS, Ind. -- Stonegate Mortgage Corporation (NYSE: SGM), a leading, publicly-traded mortgage company that originates, finances and services agency and non-agency residential mortgages announced today that it has formed a new division called Stonegate Direct, which will provide consumers across the United States with direct access to mortgage advisors to facilitate 24 hour, seven day a week, access to the company’s mortgage products and services.

The creation of this new division greatly enhances and simplifies the customer experience and home loan application process for qualified customers by providing quick, secure online access for homebuyers and those looking to refinance. Stonegate Direct is being formed through the integration of the call center operations of Crossline Capital, which it acquired in December 2013. The division will be run by Tim Elkins, Executive Vice President, Stonegate Direct who will report to Lisa Rogers, Executive Vice President, Loan Origination. As part of the division’s operating plan, the company will have offices in southern California and open a call center in Dallas, TX that will provide service and capabilities to customer across the country.

“Delivering a superior customer experience is one of the fundamental components of Stonegate Mortgage’s approach to lending,” said Jim Cutillo, Founder and CEO of Stonegate Mortgage. “Younger generations have enhanced expectations for the efficiency of online experiences in all kinds of purchases — from buying music, to purchasing vehicles and now, even securing mortgages to purchase homes. The Stonegate Direct business is being driven by our commitment to provide all customers with access to mortgage products in an easy, understandable and timely manner and in the way that they would prefer to get it. We are taking a customer-focused approach that will distinguish Stonegate Mortgage from competitors and drive originations as we continue to grow in 2014 and beyond.”

The creation of this new division is one of several initiatives that the company is introducing to the mortgage marketplace in 2014 that are designed to deliver a superior mortgage product, outstanding pricing and exceptional customer service that are Stonegate Mortgage’s points of distinction from competitors in the marketplace. Underpinning these businesses is the company’s technology expertise which streamlines the mortgage process, ensures compliance and provides loans to only qualified customers. Stonegate Direct, will be a division of Stonegate Mortgage.

About Stonegate Mortgage Corporation

Founded in 2005, Stonegate Mortgage Corporation (NYSE: SGM) is a leading, publicly-traded mortgage company that originates, finances and services agency and non-agency residential mortgages through its network of retail offices and approved third party originators. Stonegate Mortgage also provides financing through its fully integrated warehouse lending platform, NattyMac. Stonegate Mortgage's operational excellence, financial strength, dedication to customer service and commitment to technology has positioned the firm as a leading provider in the emerging housing finance market.

Source: Stonegate Mortgage Corporation