Eric Scholtz to Lead New Jumbo Conduit at Stonegate
Stonegate Mortgage has hired former GMAC RFC capital markets executive Eric Scholtz as the point man for a new jumbo loan conduit.
According to the private-equity-funded company, Scholtz reports to Stonegate president Dan Bettenberg, who said in a press release that the new structured finance EVP is “the first of several key industry leaders that will be joining Stonegate.”
“We’re obviously positioned with this hire and several other key hires that are coming…to bring a nonagency product to the market in 2013,” Stonegate founder and CEO Jim Cutillo told this publication, noting that the company plan is to by the third quarter have “not only a product but a securitization shelf established.
“We’ve been strategically positioning ourselves for this product since last year,” he said, noting that the company’s acquisition of warehouse lender Natty Mac in 2012 and some of its technology strategies were done with this end in mind.