Stonegate has also announced that it will invest $6.2 million to expand its corporate headquarters in Indianapolis, according to a report by the Indianapolis Star.
“When we founded the company in 2005, our focus was on creating a profitable and sustainable business,” Stonegate founder and CEO Jim Cutillo said.
The announcement reveals an expansion of Stonegate’s previous hiring plans, adding 100 extra jobs to the 300 planned hires Stonegate announced in
December. Stonegate already employs more than 1,100 workers nationwide.
Stonegate is bucking the national trend among mortgage lenders by hiring employees rather than firing them. In the last few weeks, Wells Fargo, Bank of America, Nationstar and PHH have all announced significant cuts to their mortgage units in recent weeks. Last week JPMorgan Chase announced plans to cut up to 8,000 jobs this year, mostly in its mortgage and retail banking departments.Thousands more mortgage employees have lost their jobs in the last 12 months.
In a reversal of recent trends in the industry, Stonegate Mortgage Co. has announced that it will actually add up to 400 new jobs in the next three years.