STONEGATE MORTGAGE CORPORATION (NYSE:SGM) Files An 8-K Entry into a Material Definitive Agreement
Item1.01
| Entry into a Material Definitive Agreement. |
On May24, 2017, Stonegate Mortgage Corporation, an Ohio
corporation (Stonegate), Home Point Financial Corporation, a New
Jersey corporation (Home Point) and Longhorn Merger Sub, Inc., an
Ohio corporation and wholly owned subsidiary of Home Point
(Merger Sub and, together with Stonegate and Home Point, the
Parties) entered into a Letter Agreement (the Letter Agreement)
in connection with that certain Agreement and Plan of Merger (the
Merger Agreement), dated as of January26, 2017, among the
Parties. The Merger Agreement provides that, upon the terms and
subject to the conditions set forth therein, Merger Sub will
merge with and into the Stonegate (the Merger), with Stonegate
surviving the Merger as a wholly owned direct subsidiary of Home
Point. to the Letter Agreement, the Parties agreed to the
satisfaction of certain closing conditions of the Parties
required under Article VII of the Merger Agreement as of May24,
2017, and agreed to a closing date for the Merger of May31, 2017.
The foregoing description of the Merger Agreement and the Letter
Agreement does not purport to be complete and is subject to, and
qualified in its entirety by, the full text of the Merger
Agreement, which was filed as Exhibit 2.1 to Stonegates Current
Report on Form 8-K filed with the Securities and Exchange
Commission on January27, 2017, and the Letter Agreement, a copy
of which is attached as Exhibit 10.1 to this Current Report on
Form 8-K. The
Merger Agreement and the Letter Agreement are incorporated herein
by reference.
| Item9.01 | Financial Statements and Exhibits |
(d)
Exhibits
|
Exhibit No. |
Description of Exhibit |
|
| 10.1 |
Letter Agreement, dated as of May24, 2017, among Stonegate Mortgage Corporation, Home Point Financial Corporation, and Longhorn Merger Sub, Inc. |
About STONEGATE MORTGAGE CORPORATION (NYSE:SGM)
Stonegate Mortgage Corporation is a non-bank mortgage company. The Company is focused on originating, financing and servicing the United States residential mortgage loans. The Company’s segments include Originations, Servicing, Financing and Other. The Originations segment primarily originates and sells residential mortgage loans, which conform to the underwriting guidelines of the government sponsored enterprises and government agencies, and non-agency whole loan investors. The Servicing segment includes loan administration, collection and default activities, including the collection and remittance of loan payments, responding to customer inquiries, collection of principal and interest payments, holding custodial funds for the payment of property taxes and insurance premiums, counseling delinquent mortgagors and modifying loans. The Financing segment includes warehouse-lending activities to correspondent customers by the Company’s subsidiary, NattyMac, LLC. STONEGATE MORTGAGE CORPORATION (NYSE:SGM) Recent Trading Information
STONEGATE MORTGAGE CORPORATION (NYSE:SGM) closed its last trading session up +0.01 at 7.97 with 16,695 shares trading hands.
