IN: Mortgage Lender to Expand Fishers Headquarters, Hire 300

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Lt. Governor Becky Skillman joined executives from Stonegate Mortgage Corporation today to announce the company's plans to expand its Fishers headquarters, creating up to 300 new jobs by 2015.

Stonegate Mortgage Corporation was founded in 2005 and headquartered in Fishers, Indiana. It is one of the largest independently owned mortgage lenders and servicers in the central United States.  Since 2008 the company has hired 150 employees, originated over $1.6 billion in residential mortgages and currently maintains a loan servicing portfolio in excess of $750 million or 4,800 homes.

"Stonegate Mortgage's decision to grow its operations here not only means hundreds of jobs, but it's also a vote of confidence in our state's competitive business environment and talented workforce," said Skillman.

The mortgage lender is currently located at 10412 Allisonville Road in Fishers and plans to invest $3 million to relocate to 29,000 square feet of space at 9998 Crosspoint Blvd. in the Hamilton County town.

"Stonegate Mortgage has experienced tremendous growth since 2008," said Jim Cutillo, chief executive officer and president of Stonegate.  "We attribute the growth to our relentless focus on responsible lending and our decision not to participate in sub-prime lending. I am happy to announce that we will be hiring 300 new employees by 2015 as we open our new corporate headquarters in Fishers, Indiana. Currently, we are actively pursuing new employees and will continue hiring in 2011 and beyond."

Cutillo says Stonegate remains committed to becoming the lender of choice for residential mortgages and revitalizing the housing market.

Stonegate currently has 88 Indiana employees and 74 associates across its national offices. 

The Indiana Economic Development Corporation offered Stonegate Mortgage Corporation up to $3.7 million in performance-based tax credits and $50,000 in training grants based on the company's job creation plans.  Additionally, the town of Fishers offered a 10-year personal property tax abatement of up to $760,000 based on Stonegate's planned capital investment and payroll from the projected jobs.

"Stonegate Mortgage has rapidly become an integral part of the Fishers business community," said Town Council President Scott Faultless. "Fishers is committed to the success of companies investing in our community, and this is a prime example."
 
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 serves as a wholesale/correspondent lender and is an approved Fannie Mae and Ginnie Mae seller/servicer. It operates six retail centers in three regional markets: Indianapolis; Columbus, OH; and Overland Park, KS.

About IEDC
Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Mitch Roob serves as the chief executive officer of the IEDC.  For more information about IEDC, visit www.iedc.in.gov .