2011 Media Kit - Stonegate Mortgage

2011 Media Kit
Company Profile
Management Team
Management Team Biographies
Press Releases
2
3
4
6
Media contact:
Lynne Coverdale
317.570.0450 x307
[email protected]
Copyright 2011 Stonegate Mortgage Corporation. The information in this media kit is designed to give public information about the company.
Permission is granted to use this information in media outlets in whole or in part.
Company Profile
Website
www.stonegatemtg.com
Current Corporate Headquarters
10412 Allisonville Road, Suite 250
Fishers, IN 46038
New Corporate Headquarters (Fall 2011)
9190 Priority Way West Drive
Indianapolis, IN 46240
Indiana Retail Branches
Indianapolis (North)
10412 Allisonville Road, Suite 250
Fishers, IN 46038
Indianapolis (South)
1499 Windhorst Way, Suite 200
Greenwood, IN 46143
Indianapolis (West)
10746 E. US Hwy 36
Avon, IN 46123
Columbus, OH
200 E. Campus View Boulevard, Suite 100
Columbus, OH 43235
Mansfield, OH
157 South Main St.
Mansfield, OH 44902
Overland Park, KS
9225 Indian Creek Parkway, Suite 1170
Overland Park, KS 66210
Kansas City, MO
200 NE Missouri Road, Suite 227
Lee’s Summit, MO 64086
Company Overview
Stonegate Mortgage Corporation is the fastest growing independently
owned mortgage lender in the U.S. as ranked by Inc. Magazine for revenue growth from 2007–2010. Stonegate currently originates and services residential mortgages in 20 states through eight retail offices in four
regional markets: Indianapolis, Indiana; Columbus, Ohio; Louisville, Kentucky; and Overland Park, Kansas. The company also acquires residential mortgages on a wholesale and correspondent basis from approved
third party originators.
Since 2008 Stonegate has originated over $1.8 billion in residential mortgages and currently manages a servicing portfolio of $1 billion in residential mortgages for Fannie Mae and Ginnie Mae.
Core Business
Stonegate originates residential mortgages
Stonegate currently originates residential mortgages on a retail basis
through eight offices in four regional markets: Indianapolis, Indiana; Columbus, Ohio; Louisville, Kentucky; and Overland Park, Kansas. Retail origination involves loan application and processing, underwriting, closing and
funding.
Stonegate acquires residential mortgages on a wholesale and correspondent basis
Stonegate acquires residential mortgages from approved third party originators (Mortgage Bankers/Brokers, Bank and Credit Unions) in 20 states
on a wholesale and correspondent basis. Acquisition involves underwriting, closing and funding for wholesale clients and purchasing residential
mortgages from correspondent clients.
Stonegate services residential mortgages
Stonegate currently services over $1 billion in residential mortgages for
Fannie Mae and Ginnie Mae. Servicing involves payment processing/remittance, escrow (taxes and insurance) management, loss mitigation and
customer service. Stonegate’s servicing portfolio contains over 7,600
homes 20 states.
Stonegate Milestones Since 2008
• Generated a 185% return on equity for our common shareholders
Louisville, KY
1650 UPS Drive, Suite 103
Louisville, KY 40223
• Originated and/or acquired $1.8 billion in residential mortgages
- Retained the servicing on $1 billion in residential mortgages
Ownership
Privately held
• Successfully raised additional capital from two private equity funds
Management
Jim Cutillo – CEO
Dan Bettenburg - President
Steve Landes - Executive VP, Loan Origination
Paul Plaia - Senior VP, Secondary Marketing
Barb Cutillo, CPA - CFO, Corporate Secretary
Pamela Starr - Senior VP, Loan Acquisition
John Swain - Executive VP, Loan Administration
Matthew Locke - Senior VP, Retail Lending
• Acquired an interest in Community Bancshares of Kansas (Merit
Bank)
Affiliate
Community Bancshares of Kansas (Merit Bank)
• Hired over 180 employees
• Acquired Swain Mortgage Company (with a $175 million servicing
portfolio)
• Designed, developed and implemented a web 2.0 application
Recent Announcements 2010/2011
• Hiring 300 employees by 2015
• Moving to new corporate headquarters in Indianapolis, Indiana (Fall 2011)
• Recognized by Inc. Magazine as the 140th fastest growing privatelyheld company in the U.S. from 2007–2010.
2
Management Team
Stonegate has an experienced and proven
management team who:
• Averages 20 years experience within the mortgage industry
• Owns 56% of the outstanding common stock of the company
• Provided shareholders with a 185% return on equity since 2008
• Held senior level executive positions within public traded companies
• Remained focused on responsible lending when its competitors
chose to participate in the sub-prime market during 2005 to 2008
• Negotiated over $100 million in warehouse funding commitments
(through two banks)
• Raised capital in 2008 and 2009 to support the company’s growth
• Acquired Swain Mortgage Company in 2009 with over $175 million
in residential mortgage servicing
• Hired and integrated over 180 employees since 2008
3
Management Team Biographies
Jim Cutillo
President and CEO (Founder)
Jim Cutillo is the President, CEO and founder of Stonegate Mortgage Corporation,
where he is responsible for delivering value to shareholders and employees through
company profitability and success. He is the driving force behind the tremendous growth
the company has already experienced over the last few years, and is the visionary
leader for expansion opportunities in the future. Prior to founding Stonegate, Jim served
as Director for GMAC Residential Funding and Managing Partner for a consulting and
software firm focused on helping mortgage lender/servicers improve their operational
and financial performance. His clients included IndyMac Bank, First American CREDCO,
GMAC, Chase, Wells Fargo, Wachovia, US Bank and WAMU. Jim also served in the
U.S. Army as a Commissioned Officer (on both active and reserve duty) and for a time
was stationed in Ft. Campbell, KY with the 101st Airborne Division. He is a graduate of
the Kelly School of Business, Indiana University with a degree in Finance. He is a member of the board of Merit Bank, located in Overland Park, KS.
Steve Landes
Executive Vice President, Loan Origination
Steve Landes joined Stonegate Mortgage in 2008 as Executive Vice-President, Loan
Origination where he oversees all aspects of the company’s sales and marketing efforts.
Steve’s experience in mortgage lending spans 19 years including positions as Sr. Vice
President, Retail Lending at NovaStar Mortgage, where he was responsible for 4,500
employees in retail offices located throughout the United States; CEO of Ampro Financial Services, a title company serving all 50 states; and Regional President for IndyMac
Bank, with responsibility for sales and operations of the wholesale and correspondent
channels throughout the central United States. Steve holds a BSBA, Finance from the
University of Central Missouri.
Paul Plaia
Senior Vice President, Secondary Marketing
Paul Plaia has served as the Senior Vice President of Capital Markets for Stonegate
Mortgage Corporation since January, 2009. He is responsible for all Capital Market activities including investor relations, interest rate risk hedging, warehouse line management, loan delivery, and post closing audit/insuring. Paul has over 25 years experience
in the mortgage business, primarily in Capital Markets functions. Having worked for a
variety of companies from small start-ups to national lenders, he has experience and
knowledge of virtually every facet of mortgage banking. Paul holds an MBA from the
University of Notre Dame in finance with a BS in Accounting. He also serves as President on the Town of Fishers, IN, Redevelopment Commission.
4
Management Team Biographies
Barb Cutillo, CPA
Chief Financial Officer, Corporate Secretary
Barb Cutillo is responsible for all Corporate Support activities including Accounting &
Tax, Human Resources, Information Technology, state licensing and other administrative areas of the business. Prior to joining Stonegate, Barb held management positions
in Accounting/Finance and Strategic Planning for companies in the utility, manufacturing
and distribution industries. She was a senior auditor for Coopers & Lybrand, specializing
in mergers and acquisitions. Barb is a licensed CPA in the state of Indiana, and a member of the Indiana CPA Society. She earned an MBA in Finance and Entrepreneurship
from the Kelley School of Business at Indiana University. Barb also serves on the board
of the non-profit Community Development Law Center, located in Indianapolis, Indiana.
Pamela Starr
Senior Vice-President, Loan Acquisition
Pam Starr serves as Senior Vice-President of Loan Acquisition. Pam joined Stonegate
Mortgage in October 2009 as Director of Operations to help manage the incredible
growth Stonegate has experienced in all its business channels. The retail and wholesale
channels have expanded under Pam’s operational leadership and the correspondent
channel was created and became functional. Pam is a seasoned veteran of the mortgage industry with experience in processing, underwriting and operations, as well as retail and wholesale organizations. Pam holds a Bachelor Degree from Butler University in
Indianapolis, Indiana.
John Swain
Executive Vice-President, Loan Administration
John Swain is responsible for loan administration and all functions associated with loan
servicing. John joined Stonegate Mortgage Corporation in May of 2009. Prior to joining
Stonegate, he served as President of Swain Mortgage Company. John joined Swain
Mortgage in May, 1978, and served in various leadership roles until being promoted to
President in 1996. John started his mortgage banking career as a retail loan officer in
Tucson, Arizona with Western American Mortgage Company. He holds a Bachelor of
Science degree in business from The Ohio State University.
Matthew Locke
Senior Vice President, Retail Lending
Matthew Locke is responsible for all aspects of retail loan origination. He joined
Stonegate Mortgage in June, 2011, after serving as President of Retail Lending for Pulaski Bank where he worked for 14 years growing origination volume to over $2 billion
per year, resulting in Pulaski being ranked #1 in retail market share in the St. Louis and
Kansas City markets. Prior to Pulaski, Matthew served as Branch Manager at Norwest
Financial. Matthew holds a BBA from Pittsburg State University and an MBA from Webster University. He is an active member of the Mortgage Bankers Association and is the
past President of the Mortgage Bankers Association of Missouri.
5
News Release
FOR IMMEDIATE RELEASE
Inquiries, Contact:
Lynne Coverdale
Director, Strategic Initiatives
Stonegate Mortgage Corporation
317.570.0450 x307
[email protected]
Stonegate Mortgage Corporation Recognized as Fastest Growing Independent
Mortgage Company in the U.S. by Inc. Magazine
Fishers, Indiana (August 26, 2011) – Stonegate Mortgage Corporation, a privately-held
mortgage company based in Fishers, Indiana, has been recognized by Inc. Magazine as the fastest
growing independent mortgage company in the United States.
Based on revenue growth of 2,011% over a three-year period (2007 – 2010), Stonegate was the highest
ranked mortgage company, ranked no. 10 in the Financial Services category, and ranked no. 140 among
the list’s top 500 companies. The Inc. 500 Fastest Growing Companies list represents the most
comprehensive look at a critically important segment of the economy—America’s independent
entrepreneurs. Other Indiana companies on the list included Slingshot SEO (Indianapolis, no. 58), KPaul
(Indianapolis, no. 91) and ChaCha (Carmel, no. 219).
Along with the Inc. Magazine ranking, Stonegate was ranked no. 2 in growth for Indiana companies by
Indianapolis Business Journal, and was concurrently named one of the 2011 Indiana Companies to Watch
by the Indiana Economic Development Corporation, its Small Business Development Center network,
Purdue University and the Edward Lowe Foundation. The Indiana Companies to Watch awards program
celebrates Indiana’s privately held second-stage companies that demonstrate the intent and capacity to
grow based on employee or sales growth, exceptional entrepreneurial leadership or sustainable
competitive advantage.
―We are very honored to be recognized by these organizations for the success we’ve achieved during
what has been a challenging time for our industry, but our growth has been hard-won as the result of our
determined efforts to focus on superior service, sound lending practices and hiring the best and the
brightest in our industry,‖ said Jim Cutillo, Stonegate’s CEO. ―These priorities have laid the foundation
for what we feel will be our continuing upward trajectory as the housing market recovers.‖
Inc. 500 honorees have been individually profiled on Inc.com, with the top 500 being featured in the
September issue of Inc. magazine on stands now. The fourth annual Indiana Companies to Watch awards
program was held for recipients August 25th in Indianapolis.
About Stonegate Mortgage Corporation
Founded in 2005, Stonegate Mortgage Corporation is one of the top 25 independently-owned mortgage
servicers in the United States and is a leading originator of government-sponsored enterprise (GSE) and
government-insured (FHA, VA and USDA) loans. Stonegate assists clients in purchasing and refinancing
homes through a variety of mortgage products, and also acquires wholesale and correspondent loans in 20
mid-western states.
For more information about Stonegate Mortgage Corporation, go to www.stonegatemtg.com.
###
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125
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126
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128
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$18.4 million
129
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130
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131
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132
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133
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The 2011 Inc. 5000 List - Product Movers through SNS Logistics | Inc.com
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2,034%
$3.2 million
139
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2,029%
$5.2 million
140
Stonegate Mortgage
2,011%
$15.4 million
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2,008%
$11.3 million
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1,944%
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1,940%
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1,933%
$2.3 million
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1,900%
$2 million
147
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1,897%
$4.1 million
148
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1,895%
$2.1 million
149
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1,882%
$25.6 million
150
Optimal Strategix Group
1,878%
$6.5 million
151
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1,871%
$2.5 million
152
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1,870%
$2.5 million
153
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1,856%
$10 million
154
Enstoa
1,848%
$3.5 million
155
Mobifusion
1,847%
$2.9 million
156
Polu Kai Services
1,847%
$32.6 million
157
The Iron Door Company
1,839%
$2 million
158
Triad Web Design
1,836%
$3 million
159
DocuLynx
1,831%
$10.5 million
160
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1,830%
$17.4 million
161
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1,825%
$2.7 million
162
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1,825%
$21.9 million
163
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1,797%
$2 million
164
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1,796%
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165
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1,789%
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166
Alpha Synopsys
1,770%
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167
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1,758%
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1,752%
$2.6 million
169
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1,750%
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170
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1,750%
$2.2 million
171
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1,749%
$3.9 million
172
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1,726%
$2.3 million
173
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1,717%
$5.7 million
174
BoomTown
1,712%
$2.2 million
175
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1,710%
$3.1 million
176
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1,708%
$31.5 million
177
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1,699%
$18.2 million
178
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179
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1,693%
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180
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182
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$3.4 million
183
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News Release
FOR IMMEDIATE RELEASE
Inquiries, Contact:
Lynne Coverdale
Director, Strategic Initiatives
Stonegate Mortgage Corporation
317.570.0450 x307
[email protected]
Stonegate Mortgage Corporation Hires Matthew Locke as Senior Vice
President of Retail Lending
Fishers, Indiana (June 20, 2011) - Stonegate Mortgage Corporation announced today it has hired
Matthew Locke as Senior Vice President of Retail Lending. Prior to joining Stonegate, Locke was
President of Retail Lending for Pulaski Bank where he worked for 14 years.
While at Pulaski, Locke grew origination volume to over $2 billion per year, resulting in Pulaski being
ranked #1 in retail market share in the St. Louis and Kansas City markets. “Matt is a proven leader in
retail lending in the Midwest,” said Steve Landes, Executive Vice President of Stonegate Mortgage. “He
is well known and respected amongst his peers and the industry and will be a valuable asset as we execute
on our aggressive growth plans. Stonegate is currently looking at several retail acquisitions throughout the
Midwest, and we intend to grow our market share behind Matt’s leadership.”
“Stonegate has grown year over year the past three years, for one reason: its ability to identify
opportunities and hire the right people to deliver,” said Dan Bettenburg, President of Stonegate. “Matt is a
great example of that.”
“Stonegate has the right mix of people, process and technology to provide best-in-class service to our
retail customers and become a dominant player in the markets it serves.” said Locke. “That is why I am
here.”
About Stonegate Mortgage Corporation
Founded in 2005, Stonegate Mortgage Corporation is one of the top 25 independently-owned mortgage
servicers in the United States and is a leading originator of government-sponsored enterprise (GSE) and
government-insured (FHA, VA and USDA) loans. Stonegate assists clients in purchasing and refinancing
homes through a variety of mortgage products, and also acquires wholesale and correspondent loans
in 16 mid-western states. Retail branch locations include Fishers, Greenwood and Avon, IN, Overland
Park, KS, Louisville, KY, Lee’s Summit, MO, and Columbus and Mansfield, OH.
For more information about Stonegate Mortgage Corporation, go to www.stonegatemtg.com.
###
News Release
FOR IMMEDIATE RELEASE
Inquiries, Contact:
Lynne Coverdale
Director, Strategic Initiatives
Stonegate Mortgage Corporation
317.570.0450 x307
[email protected]
Stonegate Mortgage Corporation Hires Dan Bettenburg as President
Fishers, Indiana (June 17, 2011) - Stonegate Mortgage Corporation announced today that it has hired
Dan Bettenburg as President. Prior to joining Stonegate, Bettenburg was Executive Vice President and Senior
Managing Director at GMAC - Residential Funding Corporation (RFC) where he was employed for over 17 years.
While at GMAC-RFC, Bettenburg was responsible for Homecomings Financial – Wholesale and led its growth in
loan origination volume from $14 billion per year to over $28 billion per year, ranking Homecomings as the #12
wholesale mortgage originator in 2008. He was also responsible for the design, development and implementation of
Assetwise, GMAC-RFC’s industry-leading automated loan decisioning engine, as well as a complete suite of
business-to-business eCommerce tools that automated and streamlined transactions between GMAC-RFC and its
broker and correspondent lender clients.
“I am excited to join the Stonegate team,” said Bettenburg. “What they have accomplished over the past three years
is exceptional, especially given the state of the economy and the mortgage industry in particular. We are wellpositioned to continue to grow our market share and expand into new markets. Our production is up over 40% from
last year and we have only begun to leverage our technology and servicing platforms.”
“Dan has a demonstrated track record of success managing sales, operations and technology in a fast-paced, growthoriented culture, and you don’t often see that combination in our business,” said Jim Cutillo, Chief Executive
Officer of Stonegate Mortgage.
“The addition of Dan to our executive team is a significant step forward in our strategy to continue to grow and
expand our business and is a validation of our potential” said Steve Landes, Stonegate’s Executive Vice President.
“Dan’s experience and background will enable us to better leverage our technology to aggressively grow our retail,
wholesale and correspondent channels.”
About Stonegate Mortgage Corporation
Founded in 2005, Stonegate Mortgage Corporation is one of the top 25 independently-owned mortgage
servicers in the United States and is a leading originator of government-sponsored enterprise (GSE) and
government-insured (FHA, VA and USDA) loans. Stonegate assists clients in purchasing and refinancing
homes through a variety of mortgage products, and also acquires wholesale and correspondent loans
in 16 mid-western states. Retail branch locations include Fishers, Greenwood and Avon, IN, Overland
Park, KS, Louisville, KY, Lee’s Summit, MO, and Columbus and Mansfield, OH.
For more information about Stonegate Mortgage Corporation, go to www.stonegatemtg.com.
###
NEWS RELEASE
For Immediate Release
Stonegate Mortgage to Relocate Headquarters to Marion County and Add Jobs
Company plans to hire 300 new employees by 2015
INDIANAPOLIS (June 17, 2011) – Stonegate Mortgage Corporation has leased 28,360 square feet of office space at 9190
Priority Way West Drive at The Precedent office park and will relocate its corporate headquarters to the facility from
Fishers late summer or early fall. The move will allow the company to expand and add 300 new employees by 2015,
some of which they have already hired.
The company had previously announced it would expand in Fishers, but opted to come to Indianapolis after lease
negotiations fell through.
“Despite leasing issues regarding their original location, we are happy they decided to move forward with a
new location, this time in Indianapolis, and create new jobs in Central Indiana,” said Mayor Greg Ballard.
Founded in 2005, Stonegate Mortgage Corporation is one of the largest independently owned mortgage lenders and
servicers in the central United States. Since 2008, the company has hired 165 employees, originated more than $1.8
billion in residential mortgages and currently maintains a loan servicing portfolio in excess of $841.6 million or 6,029
homes.
“Stonegate has experienced tremendous growth since 2008”, said Jim Cutillo, Chief Executive Officer of Stonegate. “We
attribute the growth to our relentless focus on responsible lending and our ability to attract talented professionals to
our team. We look to continue that growth by hiring 300 new employees by 2015 in Central Indiana. We are excited
about moving to Indianapolis, I want to personally thank the city of Indianapolis and HDG Mansur for making it
possible.”
Based on its job creation goals and investment Develop Indy will support property tax abatement for approval by the
Metropolitan Development Commission. The Indiana Economic Development Corporation offered Stonegate Mortgage
up to $3.7 million in performance-based tax credits and $50,000 in training grants last year which the company will be
eligible to apply toward its Indianapolis facility.
About Stonegate Mortgage Corporation
Stonegate Mortgage Corporation is a leading originator and servicer of conventional loan products as well as FHA, VA
and USDA loans. The company also services as a wholesale/correspondent lender and is an approved Fannie Mae and
Ginnie Mae seller/servicer. It operates eight retail centers in five regional markets: Indianapolis, Fishers and Avon, IN;
Columbus and Mansfield, OH; Louisville, KY; Lee’s Summit, MO; and Overland Park, KS.
About Develop Indy
Develop Indy is Marion County's local economic development organization. Develop Indy is dedicated to attracting new
businesses, retaining and expanding existing businesses and serving as a catalyst for capital investment and quality job
growth in Indianapolis/Marion County. Formed in 2007, Develop Indy is led by CEO Scott Miller. For more information
about Develop Indy visit www.developindy.com.
-30Media Contacts:
Lynne Coverdale (Stonegate Mortgage Corporation) – 317-570-0450 x 307 or [email protected]
Melissa Todd (Develop Indy) – 317-808-3272 or [email protected]
News Release
FOR IMMEDIATE RELEASE
Inquiries, Contact:
William Brown
Director, Home Improvement Program
Stonegate Mortgage Corporation
317.570.0450 x144
[email protected]
HUD Approves Stonegate Mortgage Corporation for Pilot PowerSaver Program
Fishers, Indiana (4/29/2011) – The U.S. Department of Housing and Urban Development (HUD) has
designated Stonegate Mortgage as one of eighteen approved lenders nationwide for the new Federal Housing
Administration (FHA) PowerSaver program, a two-year pilot that grants low-cost loans to homeowners wanting
to make energy-saving improvements. HUD announced the launch of the new program on Thursday, April 21st.
FHA PowerSaver will enable homeowners to make cost-effective, energy-saving improvements of their choice
to their homes, allowing them to borrow up to $25,000 for terms as long as 20 years. Eligible improvements are
based on a list developed by FHA and the U.S. Department of Energy (DOE) and include, but are not limited to,
insulation, duct sealing, energy efficient doors and windows, energy efficient HVAC systems and water heaters,
solar panels and geothermal systems.
“Stonegate is excited to participate in the PowerSaver program, as it will further enable us to accomplish our
goal of revitalizing the housing market and the communities in which we serve,” said Jim Cutillo,
CEO/President of Stonegate.
PowerSaver may be appealing for homeowners with equity in their home who want to make energy-saving
improvements that may also improve the home’s value. In addition, homeowners who have paid off their
mortgage, plan to stay in their home and want to realize the benefits of lower energy bills may also want to
consider PowerSaver.
The FHA will make incentive grant payments available for lenders to enhance benefits to borrowers, such as
lower interest rates, which are expected to be between 5 and 7 percent – comparable to, or lower than, other
options available to most homeowners. Participating lenders will be required to target markets that have already
taken affirmative steps to expand home energy improvements. FHA and DOE will help lenders identify such
markets - which exist in many suburban, rural and urban areas across the country.
About Stonegate Mortgage Corporation
Founded in 2005, Stonegate Mortgage Corporation is one of the top 25 independently-owned mortgage
servicers in the United States and is a leading originator of government-sponsored enterprise (GSE) and
government-insured (FHA, VA and USDA) loans. Stonegate assists clients in purchasing and refinancing
homes through a variety of mortgage products, and also acquires wholesale and correspondent loans in 15
mid-western states. Retail branch locations include Avon, Fishers and Greenwood, IN, Overland Park, KS,
Louisville, KY and Columbus and Mansfield, OH.
For more information about Stonegate Mortgage Corporation, go to www.stonegatemtg.com.
###
FOR IMMEDIATE RELEASE
Mortgage Lender to Expand Fishers Headquarters,
Hire 300
FISHERS, Ind. (Dec. 14, 2010) – Lt. Governor Becky Skillman joined executives from Stonegate
Mortgage Corporation today to announce the company’s plans to expand its Fishers headquarters,
creating up to 300 new jobs by 2015.
Stonegate Mortgage Corporation was founded in 2005 and headquartered in Fishers, Indiana. It is one of
the largest independently owned mortgage lenders and servicers in the central United States. Since
2008 the company has hired 150 employees, originated over $1.6 billion in residential mortgages and
currently maintains a loan servicing portfolio in excess of $750 million or 4,800 homes.
"Stonegate Mortgage’s decision to grow its operations here not only means hundreds of jobs, but it's also
a vote of confidence in our state's competitive business environment and talented workforce," said
Skillman.
The mortgage lender is currently located at 10412 Allisonville Road in Fishers and plans to invest $3
million to relocate to 29,000 square feet of space at 9998 Crosspoint Blvd. in the Hamilton County town.
“Stonegate Mortgage has experienced tremendous growth since 2008,” said Jim Cutillo, &hief (xecutive
Officer and 3resident of Stonegate. “We attribute the growth to our relentless focus on responsible lending
and our decision not to participate in sub-prime lending. I am happy to announce that we will be hiring
300 new employees by 2015 as we open our new corporate headquarters in Fishers, Indiana. Currently,
we are actively pursuing new employees and will continue hiring in 2011 and beyond.”
Cutillo says Stonegate remains committed to becoming the Lender of Choice for residential mortgages and
revitalizing the housing market.
Stonegate currently has 88 Indiana employees and 74 associates across its national offices.
The Indiana Economic Development Corporation offered Stonegate Mortgage Corporation up to $3.7
million in performance-based tax credits and $50,000 in training grants based on the company’s job
creation plans. Additionally, the Town of Fishers offered a 10-year personal property tax abatement of up
to $760,000 based on Stonegate’s planned capital investment and payroll from the projected jobs.
“Stonegate Mortgage has rapidly become an integral part of the Fishers business community,” said Town
Council President, Scott Faultless. “Fishers is committed to the success of companies investing in our
community, and this is a prime example.”
Stonegate Mortgage Corporation
Stonegate Mortgage Corporation is a leading originator and servicer of conventional loan products as well as FHA,
VA and USDA loans. The company also serves as a wholesale/correspondent lender and is an approved Fannie Mae
and Ginnie Mae seller/servicer. It operates six retail centers in three regional markets: Indianapolis; Columbus, OH;
and Overland Park, KS.
About IEDC
Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic
Development Corporation is governed by a 12-member board chaired by Governor Daniels. Mitch Roob serves as
the chief executive officer of the IEDC. For more information about IEDC, visit www.iedc.in.gov.
-30-
Media Contacts:
Lynne Coverdale (Stonegate Mortgage) – 317.570.0450 x 307 or [email protected]
Blair West (IEDC) – 317.232.8873 or [email protected]
NEWS RELEASE
FOR IMMEDIATE RELEASE
Inquiries, Contact:
Jay Waddell
Customer Acquisition Manager
Stonegate Mortgage Corporation
913.890.4402
[email protected]
STONEGATE MORTGAGE CORPORATION ANNOUNCES the
RELEASE of OLIE 2.0 to SUPPORT its FHA SPONSORSHIP PROGRAM
Fishers, Indiana – December 3, 2010 – Stonegate Mortgage Corporation announced today the
upcoming release of its Online Loan Information Exchange (OLIE) 2.0 system, created to support
its FHA Sponsorship Program and third party originators. OLIE is scheduled for release on or
before January 1, 2011.
“Stonegate is committed to wholesale and correspondent lending; our investment in technology to
support our third party originators is just one example of that commitment,” said Jim Cutillo,
President and CEO of Stonegate Mortgage.
“OLIE 2.0 will allow FHA sponsored originators to access FHA Connection via our website; other
enhancements for our approved wholesale and correspondent clients include an integrated pricing
engine, streamlined loan submission and improved conditions management, as well as expedited
closing and document request services,” said Steve Landes, Executive Vice President of Loan
Origination for Stonegate Mortgage.
“OLIE 2.0 is a significant upgrade to our wholesale/correspondent platform,” said John Dennison,
Vice President of Wholesale/Correspondent Lending for Stonegate Mortgage. “We will also begin
publishing our daily rates to Marksman, Sollen, Optimal Blue and other third party pricing engines
beginning January 1, 2011. This will give our wholesale/correspondent clients better visibility into
Stonegate’s products and pricing.”
About Stonegate
Stonegate Mortgage Corporation is one of the largest privately held mortgage lenders in the Central
United States. Founded in 1964, today it is a leading originator and servicer of governmentsponsored enterprise (GSE) and government-insured (FHA, VA and USDA) loans.
###
If you would like more information about OLIE 2.0 and/or the FHA Sponsorship Program, or to schedule
an interview with Mr. Cutillo, please call Jay Waddell at 913.890.4402 or email [email protected].
To learn more about Stonegate Mortgage visit wholesale.stonegatemtg.com.
NEWS RELEASE
FOR IMMEDIATE RELEASE
Inquiries, Contact:
Jay Waddell
Customer Acquisition Manager
Stonegate Mortgage Corporation
913.890.4402
[email protected]
STONEGATE MORTGAGE CORPORATION ANNOUNCES AN FHA
SPONSORSHIP PROGRAM
Fishers, Indiana – December 2, 2010 - Stonegate Mortgage Corporation announced today its
intent to sponsor approved wholesale/correspondent clients under its FHA Sponsorship Program.
“Stonegate is committed to wholesale and correspondent lending; our FHA Sponsorship Program
will allow approved wholesale/correspondents to continue to deliver FHA loans to Stonegate after
January 1, 2011,” said Jim Cutillo, President and CEO of Stonegate Mortgage.
“Approved wholesale/correspondent clients are being notified this week of our intent to sponsor
them,” said Steve Landes, Executive Vice President of Loan Origination for Stonegate Mortgage.
“They will receive an email with sponsorship requirements and a request for updated and/or
additional information. Our intent is to make it as seamless as possible for our approved clients to
continue to originate FHA loans after January 1st.”
“This is obviously a big change for many of our clients who previously were approved directly by
HUD to originate, underwrite, close and fund FHA loans in their names,” said John Dennison, Vice
President of Wholesale and Correspondent Lending for Stonegate Mortgage. “We are making
enhancements to our technology and business processes to make the transition as seamless and as
smooth as possible for our clients.”
“Stonegate wants to be the ‘Lender of Choice’ for all our clients and the industry,” said Cutillo. “We
recognize that great rates and great service are only part of the equation; we have to offer technology
and we have to integrate with each client’s business model in order to be a true partner, and we are
committed to doing that.”
About Stonegate
Stonegate Mortgage Corporation is one of the largest privately held mortgage lenders in the Central
United States. Founded in 1964, today it is a leading originator and servicer of governmentsponsored enterprise (GSE) and government-insured (FHA, VA and USDA) loans.
###
If you would like more information about this Program, or to schedule an interview with Mr. Cutillo, please
call Jay Waddell at 913.890.4402 or email [email protected].
To learn more about Stonegate Mortgage visit wholesale.stonegatemtg.com.
News Release
FOR IMMEDIATE RELEASE Inquiries, Contact:
Jay Waddell
Customer Acquisition Manager
Stonegate Mortgage Corporation
913.890.4402
[email protected]
Stonegate Mortgage Corporation Opens a Third Retail Branch Office in
Indianapolis
Fishers, Indiana (10/13/2010) – Stonegate Mortgage Corporation announced today the opening of
a third Indianapolis office in Avon, Indiana.
The office will be managed by Chris Minor, Senior Manager. Chris’s team of experienced
mortgage professionals includes: Angie Turley, Team Leader/Senior Mortgage Advisor, Kurt
Fancher, Mortgage Advisor, Reggie Galvin, Mortgage Advisor, Sara Kubisz, Client Relationship
Manager and Rosemary Frankowski, Client Relationship Manager. Prior to joining Stonegate,
the Minor Team worked for Bank of America for two years. “We are excited to join Stonegate
because we believe the Company is uniquely positioned to dominate the home finance market,”
said Minor. “While Banks are struggling to manage their delinquencies and credit risk, Stonegate
has been growing market share and has demonstrated its ability to meet the needs of its clients
and business partners.” With more than 75 combined years of mortgage industry experience, the Minor Team will focus
largely on building and maintaining long-term relationships with its business partners and clients
including creating long-standing partnerships with local Indiana Realtors. “We are very excited
to add Chris and his Team to the Stonegate family,” said Terri Reardon, Area Manager for
Stonegate Mortgage. “We believe this addition provides a tremendous enhancement to the
Company’s presence and experience in the Indiana market, one that our customers and business
partners will benefit greatly from.”
“Stonegate is the largest non-bank lender in the Indianapolis market and the only locally-owned
servicer of mortgage loans,” said Jim Cutillo, President and CEO of Stonegate Mortgage. “Our
clients want to know they are doing business with someone local and if they have questions that
we can answer them, prior to closing and after closing.”
About Stonegate Mortgage Corporation Stonegate Mortgage Corporation is one of the largest privately held mortgage lenders in the
Central United States. Founded in 1964, today it is a leading originator and servicer of
government-sponsored enterprise (GSE) and government-insured (FHA, VA and USDA) loans.
Stonegate assists consumers in purchasing and refinancing homes through a variety of mortgage
products, and also acquires wholesale and correspondent loans in 14 midwestern states. Retail
branch locations include Indianapolis and Greenwood, IN, Overland Park, KS and Columbus and
Mansfield, OH. For more information about Stonegate Mortgage Corporation, go to www.stonegatemtg.com.
###
News Release
FOR IMMEDIATE RELEASE
Inquiries, Contact:
William Brown, NMLS #293880
Director, HIP
Stonegate Mortgage Corporation
317.570.0450 x. 144
[email protected]
Stonegate Mortgage Corporation Incorporates Fannie-Mae’s HomeStyle
Renovation Loan into its Home Improvement Program (HIP)
Fishers, Indiana (September 29, 2010) – Stonegate Mortgage Corporation, a wholesale,
retail and correspondent loan originator/acquirer, is pleased to announce the addition of FannieMae’s HomeStyle Renovation Loan into its proprietary Home Improvement Program
beginning October 1st, 2010.
Stonegate’s Home Improvement Program (HIP) offers multiple products that allow existing and
prospective homeowners to cost effectively fund improvements to their home as a part of
financing/refinancing. Products vary based upon the category and cost of work and are managed
by a dedicated team of Stonegate home improvement loan professionals.
The HomeStyle Renovation Loan is a conventional residential mortgage product with minimal
restrictions on the type of improvements that can be financed. It allows homebuyers and owners
to reach beyond cosmetic improvements for an extensive home renovation which could include
room additions, fences, decks, furnaces, air conditioners, free-standing buildings and other
structural work. Through this loan product, borrowers have the opportunity to completely
customize a new or existing house and make it their own.
The HomeStyle Renovation Loan is also an important tool for residential realtors working with
homebuyers and sellers in improving the marketability of the homes.
About Stonegate Mortgage Corporation
Stonegate Mortgage Corporation is one of the largest privately held mortgage lenders in the
Central United States. Founded in 1964, today it is a leading originator and servicer of
government-sponsored enterprise (GSE) and government-insured (FHA, VA and USDA) loans.
Stonegate assists consumers in purchasing and refinancing homes through a variety of mortgage
products, and also acquires wholesale and correspondent loans in 14 midwestern states. Retail
branch locations include Indianapolis, IN, Overland Park, KS and Columbus, OH.
For more information about Stonegate Mortgage Corporation, go to www.stonegatemtg.com.
###
FO# IMMEDIATE #ELEASE
Ne#s Re'ease
Inquiries, Contact:
Jay Waddell
Customer Acquisition Manager
Stonegate Mortgage Corporation
913.890.4402
[email protected]
Stonegate Mortgage Corporation H ires
W holesale Regional M anager for the T exas M ar ket
F ISH E RS, I N (June 15, 2010) -- Stonegate Mortgage Corporation, a wholesale, retail and
correspondent originator, has hired Kevin McKnight as Wholesale Regional Manager for the
Texas market.
McKnight has been active in the mortgage industry since 1990. Beginning as a loan officer, he
originated loans for four years and was an Account Executive for two years. While acting as a
Regional Manager at Homecomings Financial, he headed up a sales force for the central part of
the US from 2002 to 2008 and !"#"$%"&' ()*+$,*"' -!".$&"/+0.' 1*)2' 343!&.' 56!' 7$.' 6)+.+3/&$/8'
performance and service. He 43.'9/&:;3#0.'<66=$"'65'+7"'>"3!'$/'?@@AB
"The addition of Kevin to our team signifies a great opportunity for Stonegate to expand our
business into the state of Texas. Kevin brings years of experience to a market that Stonegate
believes represents one of our most significant growth opportunities in the next year," said Steve
Landes, Executive Vice President of Stonegate Mortgage. COur plan to grow our wholesale and
correspondent businesses this year is being enhanced by the addition of such a quality individual
as Kevin McKnight."
C9' &$&' 3' *6+' 65' !"."3!#7' 47"/' *66=$/8' 56!' +7"' !$87+' 5$+' 56!' (:."*5D' (: Business Development
Managers and our customer base. I believe Stonegate is properly positioned to flourish in the
current mortgage environment and offers the right technology and platform for everyone to
achieve gre3+'.)##"..DE'.3$&';#F/$87+B
A bout Stonegate Mortgage Corporation
Stonegate Mortgage Corporation is a full service mortgage bank, underwriting and closing its
own loans, with a large servicing portfolio of GNMA and FNMA mortgage securities. The
company has a history dating to 1964 of focusing on assisting consumers in purchasing and
refinancing homes through a variety of mortgage products. Stonegate originates wholesale and
correspondent loans in 14 mid-western states and currently operates retail branches in the
following locations: Indianapolis, IN, Overland Park, KS and Columbus, OH.
For more information about Stonegate Mortgage Corporation, go to www.stonegatemtg.com
###
FO# IMMEDIATE #ELEASE
Ne#s Re'ease
Inquiries, Contact:
Jay Waddell
Customer Acquisition Manager
Stonegate Mortgage Corporation
913.890.4402
[email protected]
Stonegate Mortgage Corporation H ires
W holesale Regional M anager for G eorgia and T ennessee M ar kets
F ISH E RS, I N (April 14, 2010) -- Stonegate Mortgage Corporation, a $500,000,000 a year
wholesale, retail and correspondent originator, has hired Jeff Lochmandy as Wholesale Regional
Manager for the Georgia and Tennessee markets.
Lochmandy has been active in the mortgage banking industry since 1986, working for various
companies in Atlanta, GA, as a Loan Originator, Account Executive, Regional Sales Manager
and, most recently, the Southeast Sales Manager for Plaza Home Mortgage. Prior to Plaza, Jeff
worked at Washington Mutual where he headed the regional !"#$!%$&&'()%&'(%'*$%'&%)+$%,")-'*.!%
top wholesalers.
"I am very pleased with the addition of Jeff to the Stonegate wholesale and correspondent
management team. The Georgia and Tennessee markets represent a great opportunity for
Stonegate to grow and Jeff brings a wealth of experience and talent that will be great for
mortgage brokers and lenders in this market," said Steve Landes, Executive Vice President of
/)'*$0")$%1'()0"0$2%3Many lenders are contracting, unable to weather the financial storm of the
past few years, while Stonegate, due to solid lending practices, is able to take advantage of these
market conditions and grow its business. Southeastern lenders will benefit from the addition of a
strong wholesale servicer, committed to long term success in the region."
34%5-5% "%#')%'&%($!$"(6+%7+$*%#''8-*0%&'( the right fit for both myself, and my client base, and
believe Stonegate is poised to really grow, and offers the right technology and platform for
everyone to achieve great success in the!$%9"(8$)!:;%said Lochmandy.
A bout Stonegate Mortgage Corporation
Stonegate Mortgage Corporation is a full service mortgage bank, underwriting and closing its
own loans, with a servicing portfolio of around $300,000,000 in GNMA and FNMA mortgage
securities. The company has a long history of focusing on assisting consumers in purchasing and
refinancing homes through a variety of mortgage products. Stonegate originates wholesale and
correspondent loans in 14 mid-western states and currently operates retail branches in the
following locations: Indianapolis, IN, Overland Park, KS and Columbus, Ohio.
For more information about Stonegate Mortgage Corporation, go to www.stonegatemtg.com
###
News Release
FOR IMMEDIATE RELEASE
Inquiries, Contact:
Jay Waddell
Customer Acquisition Manager
Stonegate Mortgage Corp.
913.890.4402
[email protected]
Stonegate Mortgage attra+ts -enture +a/ita1 2ro3 Se+ond Cur-e Partners
INDIANAPOLIS, IN – >Mar+h @A, AB@BC -- Stonegate Mortgage Corporation (Stonegate) announced today
that it has received an equity investment from Second Curve Partners, LLC, an Indianapolis based private
equity firm.
”We invest in co,-anies that have a solid business ,odel, strong ,anage,ent teams and the
opportunity for eBponential growth 7 Stonegate ,eets all three”, said Scott Mu,-hrey, Princi-al with
Second Curve Partners. “@n fact, Stonegate has grown and been profitable during one of the most
challenging economic periods in our history, -articularly for the ,ortgage industry.”
“@t tooB us a little while to get over the fact that Stonegate is in the ,ortgage business,” said Dennis
Cavanagh, Princi-al with Second Curve Partners. “Che Company has a phenomenal story to tell, backed
up by solid financial results. They are well positioned to become a significant player in the market as the
econo,y and housing sector recover.”
“Dou hear a lot about life sciences and technology here in Central Indiana; these industries are very
popular with venture capital (private equity) investors. The fact is that our performance, technology and
management team matches up very well with the companies you typically hear about in the local press.
If we were a part of the life sciences or technology industry, -eo-le would be talBing about us,” said Ji,
Cutillo, President and CEO of Stonegate Mortgage Cor-oration. “Having Second Curve on our team will
enhance our ability to eBecute our strategic plan; Scott and Dennis are strong business leaders and have
a demonstrated tracB record of success.”
Stonegate has grown to over 100 employees since 200L and is ranked as one of the largest mortgage
lenders in the State of Indiana.
About Se+ond Cur-e Partners
Second Curve Partners is a private equity and management consulting firm based in Indianapolis,
Indiana, that works with small to moderately-sized companies with a sound business premise, a
compelling strategic vision and a strong core management team to develop complementary growth
strategies. (www.secondcurvepartners.com)
About Stonegate Mortgage Cor/oration
Stonegate Mortgage Corporation is one of the largest privately held mortgage lenders in the central
United States, headquartered in Fishers, Indiana. The company can trace its beginning to 1964 in the
state of Ohio, and is currently a leading originator, acquirer and servicer of conventional, FHA U VA loan
products. Stonegate is licensed in 14 states with primary offices in Indianapolis, Columbus, (OH), Wansas
City, and St. Louis. Stonegate is an approved Fannie Mae (FXMA), Ginnie Mae (GXMA), FHA, VA and
USDA lender. (www.stonegatemtg.com)
News Release
FOR RELEASE: IMMEDIATELY
Inquiries, Contact:
Jim Cutillo, President
Stonegate Mortgage Corporation
317.570.0450
[email protected]
www.stonegatemtg.com
According to the purchase details, Swain will remain in Mansfield, Ohio, while
Stonegate continues to operate out of its Indianapolis and Kansas City offices.
For more information on Stonegate or Swain, visit www.stonegatemtg.com or
call 317.570.0450.
###
News Release
FOR RELEASE: IMMEDIATELY
Inquiries, Contact:
Steve Landes, Executive Vice President
Stonegate Mortgage Corporation
913.432.3917
[email protected]
www.stonegatemtg.com
Stonegate Mortgage Corporation Expands Throughout Indiana.
INDIANAPOLIS, IN (October 31, 2008). Stonegate Mortgage Corporation, of Fishers, IN, has
continued to expand throughout the state of Indiana. The company has moved to a new location,
adding an additional 7000 square feet of office space to accommodate the growing needs of the
company. Stonegate is a mortgage lender that has been able to take advantage of the current
turmoil in the housing market by hiring many mortgage professionals in the areas it lends in, due
to a contracting competitor base. The company announces the following additions to the team:
Branch Office - South Bend, IN
Stonegate has hired Leanne Murray and Kathleen Catalino, two seasoned mortgage veterans to
open a branch office in the South Bend market. Together they bring 40 years of mortgage
lending experience to the company. "These two are great hires for Stonegate," said company
President Jim Cutillo. "Our intent is to grow into any markets we see significant growth
opportunity, or where we can find the best talent in that particular market. These two allowed
Stonegate to find both in one spot."
Branch Office - Greenwood and Plainfield, IN
Stonegate is pleased to announce the hiring of Terri Reardon, Branch Manager, to manage both
their Greenwood and Plainfield offices. Terri has extensive lending experience in each of these
markets and is building a mortgage origination team in each location. "Terri was a great hire for
Stonegate, with a wealth of experience. She positions us well to reach our goal of adding
$10,000,000 per month in loan production on the West and South side of Indianapolis," said
Steve Landes, Stonegate's EVP of production.
A New Team Lead
Stonegate is proud to announce the hiring of Amy Robbins and Ryan Frantz. These new hires
run a mortgage lending team that is considered one of the finest in Indiana, with a focus on new
construction lending. Amy and Ryan formerly ran a production facility for Fairway Mortgage
Corporation, and have a history of funding 200 loans per year in the Indiana market. "Amy and
Ryan serve to prove that Stonegate is adding the very finest loan officers and management in the
local market. These two are known for their integrity, strong lending knowledge and
performance month in and month out, and for their years of experience," added Jim Cutillo.
#
A New Director of Operations
Stonegate announces the hiring of Pamela Starr as Director of Operations. "The addition of
multiple lending channels to the company has created the need to add strong operational leaders.
Pam definitely brings the talent level we need to the company for continued growth,” said
Cutillo. Ms. Starr most recently managed wholesale and retail lending operation centers for First
Horizon Home Loans and Sovereign Bank.
About Stonegate Mortgage Corporation
Stonegate Mortgage Corporation is a full service mortgage bank, underwriting and closing its
own loans. The company has a long history of assisting consumers with the purchase of their
primary residence. The company currently operates branches in the following locations: three in
the Indianapolis, IN market, one in Lenexa, KS, and one in South Bend, Indiana. The new St.
Louis lending office is the most recent expansion.
For more information about Stonegate Mortgage Corporation, go to www.stonegatemtg.com.
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News Release
FOR RELEASE: IMMEDIATELY
Inquiries, Contact:
Jim Cutillo, President
Stonegate Mortgage Corporation
317.570.0450
[email protected]
www.stonegatemtg.com
Stonegate Mortgage Corporation Hires
Pamela Starr as new Director of Operations.
INDIANAPOLIS, IN (October 31, 2008). Stonegate Mortgage Corporation is pleased to
announce the hiring of Pamela Starr as their new Director of Operations.
Prior to joining Stonegate Mortgage, Ms. Starr managed sales and operations at First Horizon
(Met-Life) and Sovereign Bank. Ms. Starr will be responsible for Stonegate’s retail processing,
underwriting, closing, funding, and post-closing operations.
“If you have been in the mortgage business in Indianapolis (or the mid-west), you know the
name, Pam Starr,” stated Stonegate President, Jim Cutillo.
“Stonegate has been fortunate to be able to attract not only the best loan officers, but the best
operations people in the business, Pam is no exception,” said Steve Landes, Executive Vice
President of Stonegate Mortgage. “Pam’s retail and wholesale experience will be valuable as we
grow both channels in 2009,” said Landes.
About Stonegate Mortgage Corporation
Stonegate Mortgage Corporation, headquartered in Fishers, Indiana, is one of the fastest growing
mortgage lenders in the mid-west with retail offices in Indianapolis, Indiana, Kansas City and St.
Louis, Missouri. Stonegate Mortgage does business on a retail and wholesale basis throughout
the mid-west.
More offices are planned for 2009 in Kentucky, Tennessee and Nebraska. For more information
about Stonegate Mortgage Corporation, go to www.stonegatemtg.com.
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