Stonegate Mortgage Corp. recently relocated to a new Indianapolis headquarters, hired 45 of the 300 employees it wants to add in Central Indiana by 2015, and has other expansion plans underway outside the state.
“We doubled our space,” CEO Jim Cutillo told this publication in an interview Wednesday, noting that square footage increased from roughly 15,000 to almost 30,000.
The positions it added (or soon will) are all non-sales, mid- to high-level professional jobs in areas such as IT, finance, accounting, underwriting, secondary marketing, capital markets, servicing, and operations.
Cutillo added that the company, which conducts business in 25 states, also is looking to expand some of its sales positions and other posts outside of Indiana.
With large players like Bank of America and Ally Financial/GMAC scaling back their participation in the correspondent channel, there are opportunities for smaller players to grow, he said, noting that Stonegate originates in that channel as well. It is also a retail and wholesale funder.
Cutillo noted that Stonegate was able to grow during the tough 2008 market, although it remained fairly small during the go-go years when subprime dominated the industry. Stonegate avoided subprime altogether, he said.
