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. Water Street Tampa unveils video showing downtown's transformation


    TAMPA — Water Street Tampa, the sweeping, 50-plus acre redevelopment project in Tampa's urban core, has unveiled new images and video of what the downtown district will look like upon completion.

    Strategic Property Partners released a conceptual image of what the Tampa skyline will look like once its redevelopment of 50-plus acres of downtown will look like. [Photo courtesy of  of SPP]
  2. Florida ranks high for workplace equality between men and women

    Working Life

    When it comes to the workplace, Florida ranks fifth in terms of gender equality, a WalletHub study released Tuesday found.

    Florida ranks high in terms of equality between men and women in the workplace. Pictured is Sandra Murman, county commissioner in 2015, talking about the differences in pay between men and women. | [Times file photo]
  3. Treasury secretary's wife boasts of travel on government plane, touts high fashion


    U.S. Treasury Secretary Steven Mnuchin's wife, Louise Linton, boasted of flying on a government plane with her husband to Kentucky on Monday and then named the numerous fashion brands she wore on the trip in an unusual social media post that only became more bizarre minutes later.

    Steven Mnuchin and his then- financee Louise Linton watch as President Donald Trump speaks during Mnuchin's swearing-in ceremony as  treasury secretary in the Oval Office of the White House on Feb. 13. [Mandel Ngan | AFP via Getty Images]
  4. Ford, Chinese partner look at possible electric car venture


    BEIJING — Ford Motor Co. and a Chinese automaker said Tuesday they are looking into setting up a joint venture to develop and manufacture electric cars in China.

    In this April 23, 2016 photo, attendees take smartphone photos at a promotional event for Ford Motor Company ahead of the Auto China car show in Beijing. Ford Motor Co. announced an agreement Tuesday, Aug. 22, 2017 with a Chinese partner to look into forming a joint venture to develop and manufacture electric cars in China. [AP Photo/Mark Schiefelbein]
  5. Judge throws out $458,000 condo sale, says Clearwater attorney tricked bidders

    Real Estate

    CLEARWATER — Pinellas County Circuit Judge Jack St. Arnold on Monday threw out the $458,100 sale of a gulf-front condo because of what he called an "unscrupulous" and "conniving" scheme to trick bidders at a foreclosure auction.

    John Houde, left, whose Orlando copany was the high  bidder June 8 at the foreclosure auction of a Redington Beach condo, looks in the direction of Clearwater lawyer and real estate investor Roy C. Skelton, foreground,  during a hearing Monday before Pinellas County Circuit Judge Jack St. Arnold.  [DOUGLAS R. CLIFFORD   |   Times ]