During Stonegate Mortgage’s (SGM) CEO Jim Cutillo's presentation at the Zelman Housing Summit in McLean, Virginia, Cutillo not only stated that the non-bank mortgage company would succeed in 2014 but that it would even grow in the flat market.
The bank currently focuses on three areas: originating, financing and servicing residential mortgage loans.
(Source Stonegate; click for larger image)
The lender’s growth efforts are significantly bolstered by its overall mortgage market presence. Stonegate is licensed in all but three states and has only been licensed in 32.7% of the overall mortgage market for greater than 3 years.
(Source Stonegate; click for larger image)
Stonegate said its geographic expansion, increased market share and the emerging non-agency market will drive origination, financing and servicing growth.
(Source Stonegate; click for larger image)
In the lender's most recent second-quarter earnings report, it posted strong revenues, up 50% to $57.6 million in the second quarter of 2014 from $38.3 million in the first quarter of 2014.
