The StoneHill Group Announces 2019 Results and Corporate Update
ATLANTA, Feb. 4, 2020 /PRNewswire/ -- The StoneHill Group (TSG), a national third-party mortgage services firm announced today their preliminary results for the year ending December 31, 2019. Following a slow start in Q1 2019, both the mortgage finance industry and StoneHill experienced material year-over-year growth, including record Q4 results. Production volume surpassed 2018 levels and forecasts indicate the company is well positioned for a banner year in 2020. In 2019 the company provided quality control, underwriting, processing, due diligence and fulfillment services for over 50,000 mortgage loans on behalf of nearly 300 different lenders. Most importantly the company provided over 125 new services to 86 different lenders. This is record performance for new business development. Patrick Gluesing, President and Chief Operating Officer, said, "2019 was a transformative year for our company. We were able to drive considerable organic growth while also expanding our technology solutions, making StoneHill the partner of choice within our industry. I am extremely proud of our team for their commitment to customer service and innovation, and grateful for the loyalty of our customers, who value our partnership."
Among the notable highlights in 2019, the company received it's SOCII designation and enhanced its cyber security. StoneHill entered into strategic partnerships with Beyond Recognition to develop and introduce Mortgage Driver and with Scienna, whose Andor custom loan review system enables our due diligence services. StoneHill announced a new relationship with QuestSoft to introduce HMDA Driver in Q1 2020. StoneHill also re-engineered our proprietary software, LES, and is introducing the LES SaaS application in Q2 2020. The customer dashboard, accessed through the enhanced StoneHill website, was completely re-designed and unique dynamic reporting was also introduced. The company invested heavily in infrastructure and reorganization with added emphasis on customer service and sales. In 2019 StoneHill received approval from Fitch Ratings and S&P Global Ratings Agency for third party reviews. This is in addition to acceptance from Moody's, Kroll Bond Ratings Agency, and DBRS.
"We reflect proudly on the accomplishments in 2019, and we're eager to build upon that momentum in 2020," said StoneHill Chairman David Green.
About The StoneHill Group, Inc.
Founded in 1996, The StoneHill Group is a trusted provider of exceptional loan quality control, mortgage process outsourcing and technology solutions to the mortgage industry. Our proven processes, deep experience, technology-enabled and client-focused solutions deliver capacity, operational efficiencies, mitigate risk and empower confident, compliant decisions. Serving a client base of over 300 independent mortgage bankers, banks, credit unions, mortgage servicers and sub- servicers and Housing Finance Authorities across the United States. For more information on The StoneHill Group, please visit www.stonehillgroup.com or call 1.877.399.1936
PRESS CONTACT:
Pat Gluesing, President
The StoneHill Group, Inc.
(770) 399-1936
[email protected]
SOURCE The StoneHill Group, Inc.
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