Stonegate is looking to continue growing the purchase money and homebuilder origination channels as it expands its retail presence, says CEO Jim Cutillo.
Recently, Stonegate made an S-1 filing to register nearly 6.4 million shares of its common stock so they can be sold by their current owners. Those owners acquired the shares as part of a private offering from Stonegate in May 2013. That offering raised $107 million and among the buyers was FBR Capital Markets.
The mortgage company will not get any of the proceeds of the sale and it will pay the expenses involved in registering the shares.
A copy of the filing was acquired via DisclosureNet.com.