Losses, Servicing, Staff Cut at Stonegate Mortgage

Stonegate Mortgage Corp. trimmed the size of its staff, reduced its servicing portfolio and cut its losses. Lending slowed from a year ago.

From the period that started on April 1 and finished on June 30 of this year, earnings prior to income tax expense was a $17 million loss.

The Indianapolis-based firm disclosed its income, as well as other operational and financial results, in its second-quarter 2016 earnings report.

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From:: Financing