INDIANAPOLIS--()--Stonegate Mortgage Corporation, one of the nation’s largest independently-owned mortgage lenders and servicers, announced today the hiring of Eric Scholtz as Executive Vice President of Structured Finance. He will report to Dan Bettenburg, President of Stonegate Mortgage.
“The mortgage market needs a reliable and predictable source of liquidity for jumbo loans. Eric understands this market extremely well and will launch our jumbo loan conduit, which will enhance the development of loan solutions for consumers, third party originators and investors.”
Mr. Scholtz is a capital markets executive with over 20 years’ experience in the structuring, pricing and trading of mortgage and asset-backed securities. Prior to joining Stonegate Mortgage, he served in a number of senior executive positions at GMAC RFC for more than 15 years, most recently as Executive Vice President of Capital Markets and Senior Vice President, Head of Trading where he was responsible for the acquisition and ultimate sale/securitization of $150 billion annual volume in agency and non-agency mortgage loans.
“Eric is a highly respected structured finance executive and brings tremendous experience and relationships that will be an important part of the growth and further success of Stonegate,” said Jim Cutillo, founder and CEO of Stonegate Mortgage. “The mortgage market needs a reliable and predictable source of liquidity for jumbo loans. Eric understands this market extremely well and will launch our jumbo loan conduit, which will enhance the development of loan solutions for consumers, third party originators and investors.”
“Eric is the first of several key industry leaders that will be joining Stonegate as we accelerate the growth of our mortgage business,” said Mr. Bettenburg. “We are investing in smart, experienced people, innovative technology and the development of high-quality mortgage products. All of which will enable us to fully capitalize on our ‘C3’ platform which is focused on automating credit, collateral and compliance decisions at the point of origination. We are excited to have Eric as a part of the Stonegate team.”
“I am thrilled to be joining Stonegate,” said Mr. Scholtz. “As one of the most thoughtful, well-conceived and innovative mortgage companies in the U.S., Stonegate has developed an incredible platform and already established a strong track record of providing high-quality service, execution and reliability which makes the company an industry leader. I am looking forward to be able to be a part of Stonegate and to help this company further execute its business plan.”
Mr. Scholtz is a graduate of the University of Iowa.
Stonegate Mortgage has intensified its focus on providing mortgage finance solutions to financial institutions adding strategic assets and people to further launch their offerings and enhance their relationships across the mortgage industry. In September 2012, Stonegate Mortgage acquired NattyMac, a leading warehouse lender, from Guggenheim Partners. By adding the NattyMac warehouse platform and its processes, the company has created an integrated warehouse and loan sale solution for its clients and has expanded the platform by offering servicing flow transactions for Fannie, Freddie and Ginnie Mae eligible loans. Stonegate Mortgage followed that announcement in November with an agreement with Community Bank Mortgage LLC, a subsidiary of the American Bankers Association, to become its newest secondary market investor enabling Community Bank Mortgage LLC owner banks to sell loans on a “servicing-released” basis to Stonegate Mortgage with competitive pricing as well as access to the company’s full line of mortgage finance products.
Stonegate Mortgage announced its plans to expand its third party originations and servicing portfolio and build its financial institutions channel after completing a private equity transaction with Long Ridge Equity Partners, a New York-based private investment firm in March 2012.
About Stonegate Mortgage Corporation
Stonegate Mortgage Corporation is one of the largest independent mortgage lenders and servicers in the U.S. Backed by Long Ridge Equity Partners, a New York based private investment firm, Stonegate Mortgage originates, acquires and retains mortgage servicing rights through a network of retail branches and approved third party originators. With its acquisition in September 2012 of NattyMac, a warehouse lender from Guggenheim Partners, Stonegate Mortgage has created an integrated warehouse and loan sale solution for its clients to ensure that independent mortgage bankers have access to warehouse financing, liquidity for their agency loans and a mortgage servicer with an intense focus on delivering a superior customer experience. The firm is committed to sustainable growth in its business by providing its clients and financial institutions with dependable financing solutions that will enable qualified home buyers to purchase or refinance their homes in an efficient, effective and reliable manner.
For more information on Stonegate Mortgage Corporation, please visit stonegatemtg.com.