IBJNews

2013 WOMAN OF INFLUENCE: Barb Cutillo

Back to TopCommentsE-mailPrintBookmark and Share
cutillo-1-15col.jpg Barb Cutillo (IBJ photo/Eric Learned)

"We wanted to build a sustainable business that could withstand the ups and downs,” said Barb Cutillo.

Ups and downs is a mild way to describe the mortgage business over the past decade. But the company Cutillo co-founded, Stonegate Mortgage, has done more than just weather the storm. It has become one of the fastest-growing privately owned companies in the United States for three years straight (according to Inc. magazine) and topped IBJ’s list of fast-growing private firms in Indiana.

When Cutillo and her husband Jim (its CEO) launched the company in 2005, the focus was on jumbo construction loans on the north side of Indianapolis.

“During those first few years, it was difficult to grow rapidly because we weren’t doing subprime loans,” recalled Cutillo. “And difficult to recruit people because we weren’t doing those kinds of loans. But we did find a few people who believed in the industry and we built a foundation on those folks.”

That foundation proved stronger than most. Cutillo watched other companies with different philosophies go out of business when the economy turned. She’s not ashamed to say she took an opportunistic approach during that time.

“There were a lot of people who were displaced who had great experience,” she said. “We were able to hire from a great talent pool that was available all of a sudden.”

Stonegate survived—thrived, in fact. With revenue of $84.2 million in the first half of 2013 (nearly triple the same period a year earlier), Stonegate launched an initial public offering in October. It now does business in over 30 states.

Holding on to the talent she has acquired is a high priority for Cutillo.

“We’re kind of a family-based business,” she said, “and we know that everyone has to take care of their family. And not just with a paycheck. We’ve always been as flexible as we can with work schedules and making accommodations for people.”

Among those accommodations: a compassionate PTO policy where employees can donate hours to other employees. She also allows employees to work remotely, when appropriate, which she sees as helping with morale and with balancing work and family life.

Leading Stonegate’s philanthropic activities, Cutillo has tied fundraisers into work life and aligned the company with Horizon House, Habitat for Humanity, the Muscular Dystrophy Association, Pets for Vets, and others. The playground by IPS School 105 was built in part by Stonegate staff. And when employees are wearing jeans to work, that’s a sign they’ve donated money to a charity for that privilege.

“It’s just a part of the company culture to help others,” she said, pointing out that the very business she’s involved in, helping families purchase homes, is a stabilizing factor for communities. “These are the people we see in our neighborhoods—in the baseball fields and in the churches.”•

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
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
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. How much you wanna bet, that 70% of the jobs created there (after construction) are minimum wage? And Harvey is correct, the vast majority of residents in this project will drive to their jobs, and to think otherwise, is like Harvey says, a pipe dream. Someone working at a restaurant or retail store will not be able to afford living there. What ever happened to people who wanted to build buildings, paying for it themselves? Not a fan of these tax deals.

  2. Uh, no GeorgeP. The project is supposed to bring on 1,000 jobs and those people along with the people that will be living in the new residential will be driving to their jobs. The walkable stuff is a pipe dream. Besides, walkable is defined as having all daily necessities within 1/2 mile. That's not the case here. Never will be.

  3. Brad is on to something there. The merger of the Formula E and IndyCar Series would give IndyCar access to International markets and Formula E access the Indianapolis 500, not to mention some other events in the USA. Maybe after 2016 but before the new Dallara is rolled out for 2018. This give IndyCar two more seasons to run the DW12 and Formula E to get charged up, pun intended. Then shock the racing world, pun intended, but making the 101st Indianapolis 500 a stellar, groundbreaking event: The first all-electric Indy 500, and use that platform to promote the future of the sport.

  4. No, HarveyF, the exact opposite. Greater density and closeness to retail and everyday necessities reduces traffic. When one has to drive miles for necessities, all those cars are on the roads for many miles. When reasonable density is built, low rise in this case, in the middle of a thriving retail area, one has to drive far less, actually reducing the number of cars on the road.

  5. The Indy Star announced today the appointment of a new Beverage Reporter! So instead of insightful reports on Indy pro sports and Indiana college teams, you now get to read stories about the 432nd new brewery open or some obscure Hoosier winery winning a county fair blue ribbon. Yep, that's the coverage we Star readers crave. Not.

ADVERTISEMENT