"The successful completion of this acquisition is an important milestone for us," said Willie Newman, Home Point's chief executive officer. "Home Point will now have full coverage in all channels of origination, as well as warehouse lending offerings. In addition, the acquisition brings an in-house servicing platform to Home Point, giving us the ability to directly manage relationships with our customers. The most exciting part is combining the experience and talent of these two great companies in the service of our customers."
As previously disclosed, Stonegate Mortgage's board of directors unanimously approved the transaction
following a comprehensive review of the transaction and strategic alternatives. Stonegate Mortgage's stockholders overwhelmingly approved all proposals relating to the transaction at a special meeting of stockholders.
"Stonegate Mortgage always has been focused on delivering a superior customer experience," said former Stonegate Mortgage Chief Executive Officer Jim Smith, who will serve as the combined organization's Chief Operating Officer. "We are delighted to join the Home Point team to help customers achieve the American dream of homeownership."