Stonegate Mortgage of Indianapolis, Ind., said Thursday that it
The $1.2-billion asset company said that it lost $8 million, or $.031 per diluted share, compared to a profit of nearly $10 million the previous year.
Total company expenses more than doubled from the previous year, from $23 million to $51 million, while revenue remained flat at approximately $38 million
In a press release, the company attributed the loss to costs associated with its recent
The company's servicing portfolio more than doubled over the year, up 144% to 14 billion.