Jim Cutillo, CEO and founder of Stonegate Mortgage, welcomed Meachum noting that his “expertise in large-scale servicing” will contribute to the future expansion and development of Stonegate’s servicing platform.
Meachum will lead the acquisition of both agency and nonagency servicing rights “on a flow basis,” Cutillo said, as Stonegate intensifies its focus on new mortgage finance solutions, the acquisition of strategic assets and staff.
In November Stonegate signed an agreement to become the newest secondary market investor for Community Bank Mortgage LLC, a subsidiary of the American Bankers Association. It enables Community Bank Mortgage owner banks to sell to Stonegate competitively priced loans on a “servicing-released” basis.
Meachum will report to Stonegate’s president, Dan Bettenburg.
Before joining Stonegate, Meachum worked at Homeward Residential where he served as senior vice president, subservicing and special servicing.
Prior to working at Homeward Residential, Meachum worked at Saxon Mortgage as executive director, where he managed the operational credit risk of Saxon's servicing portfolio.