Stonegate Mortgage acquires Florida firm

Back to TopCommentsE-mailPrintBookmark and Share

Indianapolis-based Stonegate Mortgage Corp. has entered the Florida market with its acquisition of NattyMac LLC from New York-based Guggenheim Partners.

Terms of the deal, announced Wednesday, were not disclosed.

As part of the agreement, NattyMac’s chief operating officer and 20 employees will join Stonegate and maintain the firm’s St. Petersburg office. In addition, Stonegate plans to open a regional operations center within the office to handle additional loan volume.

Founded in 2004, NattyMac is an independent mortgage warehouse lender that finances prime mortgage collateral such as government-insured or guaranteed loans.

Stonegate was founded in 2005 and was based in Fishers before moving its headquarters last year to The Precedent office park near Keystone Avenue and East 96th Street in Indianapolis to accommodate a planned expansion.

In December 2010, Stonegate pledged to hire 300 workers by 2015 in return for tax abatements from Indianapolis and conditional tax credits from the state.

With $23.7 million in revenue at the end of 2011, the firm was ranked as the ninth-fastest growing company in the Indianapolis area, according to IBJ statistics. Its revenue grew 191 percent from 2009 to 2011.

In March, Stonegate received a $25 million private-equity investment from New York-based Long Ridge Equity Partners.

Besides Indiana and Florida, Stonegate has offices in Kansas, Kentucky, Missouri, Ohio and Tennessee.


Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
Subscribe to IBJ