Stonegate Hires VP of Structured Finance
January 29, 2013
Stonegate Mortgage Corporation hired Eric Scholtz as executive vice president of structured finance.
Scholtz will launch the company’s non-agency jumbo loan conduit, which will enhance the development of loan solutions for consumers, third party originators and investors, according to a press release. He reports to Dan Bettenburg, president of Stonegate Mortgage.
Scholtz is a capital markets executive with over 20 years’ experience in the structuring, pricing and trading of mortgage and asset-backed securities. He previously 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.
Bettenburg said in the press release that Stonegate plans further key industry hires as the company accelerates the growth of its platform which is focused on automating credit, collateral and compliance decisions at the point of origination.
Stonegate Mortgage Corporation is backed by Long Ridge Equity Partners, a New York based private investment firm. The company acquires and retains mortgage servicing rights through a network of retail branches and approved third party originators.
In September 2012, it acquired NattyMac, a leading warehouse lender, from Guggenheim Partners. The company 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.