With fresh venture capital in hand, a mortgage firm that has primarily operated in the Midwest is expanding its wholesale footprint in Texas.
In March, Stonegate Mortgage Corp. reported that Second Curve Partners LLC had made an investment in the Fishers, Ind.-based firm.
Stonegate, which was originally founded in 1964, employed around 100 people as of March and was originating around $400 million annually as of last year.
On Monday, the lender announced Kevin McKnight was hired as wholesale regional manager for the Texas market.
McKnight’s experience includes six years as a regional manager at Homecomings Financial and a stint at IndyMac.
“Our plan to grow our wholesale and correspondent businesses this year,” Stonegate Executive Vice President Steve Landes touted in the statement. “The addition of Kevin to our team signifies a great opportunity for Stonegate to expand our business into the state of Texas.”
Stonegate said its wholesale and correspondent channels operate in 14 mid-western states. Retail branches are operated in Indiana, Kansas and Ohio.
