Stonegate Mortgage Acquires Crossline Capital

Stonegate Mortgage Corp., an Indianapolis-based publicly traded mortgage company focused on originating, financing and servicing residential mortgage loans, has completed the acquisition of Crossline Capital, a California-based mortgage lender that originates and services consumer direct mortgages.

The acquisition of Crossline expands Stonegate's retail channel and accelerates its geographic expansion, which is consistent with Stonegate's acquisition and growth strategy, according to Stonegate.

"Crossline Capital's call center and retail branch network is in well-established markets with limited overlap to Stonegate's retail locations, so this is highly complementary to our existing operations," Jim Cutillo, CEO of Stonegate, comments.

Crossline is being operated as a wholly owned subsidiary of Stonegate Mortgage.

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