Stonegate Continues Realignment, Third-Party Geographic Expansion

Stonegate Mortgage Corp. has completed the acquisition of the wholesale lending channel “and certain distributed retail assets” from Nationstar Mortgage Holdings Inc., bringing on board their respective staff and operations.

The nonbank is on track with its 2013 and 2014 business growth goals. The acquisition represents yet another phase in the implementation of Stonegate’s aggressive growth strategies that aim to expand Stonegate’s client base and third-party originator partners into new geographies.

Its retail and third-party origination channels will be expanded into the Eastern, Central and Western divisions, led by senior vice presidents Todd Fliss, Mark Etchison and Vic Polich of the retail business, and Michael Cullen, Paul Wyner and Greg Armstrong in  the third-party origination business.

The staff changes complement the completion of the acquisition and these developments as “we continue to build our national presence and increase mortgage market share,” says Jim Cutillo, CEO of Stonegate Mortgage.

Following that goal Stonegate is realigning its management structure and adding several new senior managers.

New hires include Kevin McCafferty, who has been appointed head of Stonegate’s third-party origination channels and EVP of third-party origination, whose previous experience includes 20 years of executive experience with Bank of America subsidiary Nationstar Mortgage.

Fred Bolstad, who is credited for generating more than $80 billion in volume at Citibank, will become Stonegate’s EVP with responsibility for retail operations.