Subsidiary of Stonegate Mortgage to acquire Medallion Mortgage.

Position:NEWS ROOM - Brief article

On Feb. 5, Stonegate Mortgage Corporation. Indianapolis, announced the completion of its purchase of Medallion Mortgage Co. through its wholly owned subsidiary, Crossline Capital. Medallion, based in Southern California, originated more than $400 million in residential mortgages during the year ended Dec. 31, 2013. It runs branch locations throughout California and Utah.

Under the deal, Crossline will get 10 offices along the southern and central coast of California and in Utah, and will also get a new operations center in Ventura, California. These locations will employ more than 30 loan officers, according to a press release announcing the deal.

Mack McConkey, Medallion's executive vice president, will join Crossline Capital in a senior role and manage portions of its southern and central California retail operation, the companies...

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