Mortgage Company Changes Plans 6.17.11

INSIDE INDIANA BUSINESS

Indianapolis, Ind. - Stonegate Mortgage Corporation has leased 28,360 square feet of office space at 9190 Priority Way West Drive at The Precedent office park and will relocate its corporate headquarters to the facility from Fishers late summer or early fall. The move will allow the company to expand and add 300 new employees by 2015 some of which they have already hired.
The company had previously announced it would expand in Fishers, but opted to come to Indianapolis after lease negotiations fell through.
"Despite leasing issues regarding their original location, we are happy they decided to move forward with a new location, this time in Indianapolis, and create new jobs in Central Indiana," said Mayor Greg Ballard.
Founded in 2005, Stonegate Mortgage Corporation is one of the largest independently owned mortgage lenders and servicers in the central United States. Since 2008, the company has hired 165 employees, originated more than $1.8 billion in residential mortgages and currently maintains a loan servicing portfolio in excess of $841.6 million or 6,029 homes.
"Stonegate has experienced tremendous growth since 2008", said Jim Cutillo, Chief Executive Officer of Stonegate. We attribute the growth to our relentless focus on responsible lending and our ability to attract talented professionals to our team. We look to continue that growth by hiring 300 new employees by 2015 in Central Indiana. We are excited about moving to Indianapolis, I want to personally thank the city of Indianapolis and HDG Mansur for making it possible."
Based on its job creation goals and investment Develop Indy will support property tax abatement for approval by the Metropolitan Development Commission. The Indiana Economic Development Corporation offered Stonegate Mortgage up to $3.7 million in performance-based tax credits and $50,000 in training grants last year which the company will be eligible to apply toward its Indianapolis facility.
About Stonegate Mortgage Corporation
Stonegate Mortgage Corporation is a leading originator and servicer of conventional loan products as well as FHA, VA and USDA loans. The company also services as a wholesale/correspondent lender and is an approved Fannie Mae and Ginnie Mae seller/servicer. It operates eight retail centers in five regional markets: Indianapolis; Columbus and Mansfield, OH; Louisville, KY; Lee's Summit, MO; and Overland Park, KS.
About Develop Indy
Develop Indy is Marion County's local economic development organization. Develop Indy is dedicated to attracting new businesses, retaining and expanding existing businesses and serving as a catalyst for capital investment and quality job growth in Indianapolis/Marion County. Formed in 2007, Develop Indy is led by CEO Scott Miller. For more information about Develop Indy, visit www.developindy.com.
Source: Stonegate Mortgage Corporation, Develop Indy
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