Crossline Capital, Inc. has been acquired by Stonegate Mortgage Corporation
THE TRANSACTION
On December 20, 2013, Stonegate Mortgage Corporation (“Stonegate”) (NYSE:SGM) announced that it completed the acquisition of Crossline Capital, Inc. (“Crossline”). The acquisition of Crossline expands Stonegate’s retail channel and accelerates its geographic expansion, which is consistent with its acquisition and growth strategy. Crossline is being operated as a wholly-owned subsidiary of Stonegate Mortgage.
Our Client
CROSSLINE CAPITAL, INC.
Crossline Capital, Inc. is a California-based mortgage lender that originates and services consumer direct mortgages in 20 states including Arizona, California, Colorado, Connecticut, Florida, Georgia, Idaho, Maryland, Massachusetts, New Hampshire, New Mexico, North Carolina, Ohio, Oregon, Pennsylvania, Rhode Island, Texas, Utah, Virginia and Washington, and is an approved Fannie Mae Seller/Servicer. In addition, it operates two national mortgage origination call centers in Lake Forest, CA and Scottsdale, AZ and also operates retail mortgage origination branches in seven other locations in Southern California. Crossline originated $572 million in mortgage loans during the year ended December 31, 2012 and $374 million in mortgage loans during the nine months ended September 30, 2013.
Transaction Partner
STONEGATE MORTGAGE CORPORATION
Stonegate Mortgage Corporation is a leading, publicly traded, integrated mortgage company that originates, finances and services agency and non-agency residential mortgages through its network of retail offices and approved third party originators. Stonegate also provides financing through its fully integrated warehouse lending platform, NattyMac. Stonegate’s operational excellence, financial strength, dedication to customer service, and commitment to technology have positioned the firm as a leading provider in the emerging housing finance market.
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