Make us your home page

Stonegate Mortgage creates headquarters in Pinellas County, plans to add 139 jobs

Indianapolis-based home lender Stonegate Mortgage Corp. is creating a regional headquarters at Cardinal Point in Clearwater, a move that promises to add 139 jobs to its existing operations here.

The news comes at a time when many mortgage companies have been retrenching, with rising interest rates putting a damper on loan refinancings. SunTrust, Bank of America, Mortgage Investors Corp. and JPMorgan Chase have cut hundreds of lending-related jobs in Tampa Bay over the past year.

Stonegate, however, has been pushing to grow through acquisitions. Founded in 2005, the company went public just last fall and has a market capitalization value of about $390 million.

Stonegate has about 1,000 employees nationally, including 75 in Florida, where it operates both a regional office in Clearwater and a branch in Brandon. It plans to hire the additional 139 employees by the end of 2016 and make a capital investment in Pinellas which will exceed $920,000.

Gov. Rick Scott announced the expansion Thursday morning, pointing to it as evidence that his push to lower taxes and fees is working. "We are continuing to build an opportunity economy in Florida," he said.

Pinellas County and the state approved a tax refund offer to Stonegate of $5,000 for each new Florida job created and verified. The maximum value of the refund is $695,000, assuming Stonegate hires all the proposed jobs at the promised average wage level of $47,500, or 115 percent of the state's average annual wage.

As with similar deals, the state will be responsible for 80 percent of the tax refund and the county will put up the remaining 20 percent.

Gray Swoope, Florida secretary of commerce and CEO of Enterprise Florida, endorsed the incentives.

"The impact of the financial and professional services sector in Florida cannot be overstated," he said in a statement. Stonegate's expansion is "great for our state overall, but especially for professionals in the finance, insurance, and professional fields, which already represent 12 percent of the state's employment."

For more information about job openings, go to and click on careers.

Stonegate Mortgage creates headquarters in Pinellas County, plans to add 139 jobs 02/20/14 [Last modified: Thursday, February 20, 2014 9:39pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times


Join the discussion: Click to view comments, add yours

  1. Tampa man pleads guilty to forging check for fake investment

    Personal Finance

    A Tampa resident was convicted Thursday for forging a check for a fake investment. The Florida Office of Financial Regulation said that Eric Franz Peer pleaded guilty. He served 11 months in jail and will have to pay $18,000.

  2. Minority business accelerator launch by Tampa chamber to aid black, Hispanic businesses


    A "minority business accelerator" program was launched Thursday by the Greater Tampa Chamber of Commerce geared toward helping black and Hispanic business owners identify and overcome barriers to grow their companies. The accelerator, known as MBA, will provide participants with business tools to cultivate opportunities …

    Bemetra Simmons is a senior private banker at Wells Fargo, The Private Bank. She is also chair of the new minority business accelerator program for the Greater Tampa Chamber of Commerce. [Photo, LinkedIn]
  3. Terrier Tri brings unique triathlon training to South Tampa


    Over a decade ago, Robert Pennino traded late nights in the music studio for early mornings in the Terrier Tri cycle studio.

    Terrier Tri, a cycling studio in South Tampa celebrates a grand opening on June 27. Photo courtesy of Tess Hipp.
  4. New bistro hopes to serve as 'adult Chuck E. Cheese'


    YBOR CITY — Inside Cheezy's Bistro and Speakeasy, a new restaurant opening in Ybor City, customers will find a mix of family recipes, games and secrecy.

    Cheezy's Bistro and Speakeasy readies to open in Ybor City. Photo courtesy of Cheezy's Bistro and Speakeasy.
  5. Ramadan having an economic impact on local charities, businesses

    Economic Development

    TAMPA — Dodging the rain, a few families and customers gathered inside Petra Restaurant on Busch Boulevard. Around 8:30 p.m., the adham (or call to prayer) music begins, signaling Iftar, the end of the daily fast. Customers grabbed a plate to dig into the feast.

    Baha Abdullah, 35, the owner of the Sultan Market makes kataif, a common dessert that is eaten during the month long celebration of Ramadan in Tampa. [OCTAVIO JONES   |   Times]