Stonegate Mortgage Corp., a Fishers, Ind.-based mortgage lender, has raised an undisclosed amount of private equity funding from Indianapolis-based Second Curve Partners.
Stonegate Mortgage Corporation (Stonegate) announced today that it has received an equity investment from Second Curve Partners, LLC, an Indianapolis based private equity firm.
”We invest in companies that have a solid business model, strong management teams and the opportunity for exponential growth – Stonegate meets all three”, said Scott Mumphrey, Principal with Second Curve Partners. “In fact, Stonegate has grown and been profitable during one of the most challenging economic periods in our history, particularly for the mortgage industry.”
The Company has a phenomenal story to tell, backed up by solid financial results. They are well positioned to become a significant player in the market as the economy and housing sector recover. “It took us a little while to get over the fact that Stonegate is in the mortgage business,” said Dennis Cavanagh, Principal with Second Curve Partners. “The Company has a phenomenal story to tell, backed up by solid financial results. They are well positioned to become a significant player in the market as the economy and housing sector recover.”
“You hear a lot about life sciences and technology here in Central Indiana; these industries are very popular with venture capital (private equity) investors. The fact is that our performance, technology and management team matches up very well with the companies you typically hear about in the local press. If we were a part of the life sciences or technology industry, people would be talking about us,” said Jim Cutillo, President and CEO of Stonegate Mortgage Corporation. “Having Second Curve on our team will enhance our ability to execute our strategic plan; Scott and Dennis are strong business leaders and have a demonstrated track record of success.”
Stonegate has grown to over 100 employees since 2005 and is ranked as one of the largest mortgage lenders in the State of Indiana.
About Second Curve Partners
Second Curve Partners is a private equity and management consulting firm based in Indianapolis, Indiana, that works with small to moderately-sized companies with a sound business premise, a compelling strategic vision and a strong core management team to develop complementary growth strategies. (www.secondcurvepartners.com)
About Stonegate Mortgage Corporation
Stonegate Mortgage Corporation is one of the largest privately held mortgage lenders in the central United States, headquartered in Fishers, Indiana. The company can trace its beginning to 1964 in the state of Ohio, and is currently a leading originator, acquirer and servicer of conventional, FHA & VA loan products. Stonegate is licensed in 14 states with primary offices in Indianapolis, Columbus, (OH), Kansas City, and St. Louis. Stonegate is an approved Fannie Mae (FNMA), Ginnie Mae (GNMA), FHA, VA and USDA lender. (www.stonegatemtg.com)