updated: 5/1/2012 12:49:37 PM

Stonegate Mortgage Planning Retail Growth

InsideINdianaBusiness.com Report

Indianapolis-based Stonegate Mortgage Co. has hired a veteran executive to lead and grow its retail branch network. Mark Etchison has been named eastern regional vice president of retail lending. He will focus on recruiting managers for the company's eastern expansion.

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May 1, 2012

News Release

INDIANAPOLIS, Ind. – Stonegate Mortgage, one of the nation’s largest and fastest-growing independently-owned mortgage lenders and servicers, announced today it has hired Mark Etchison as Eastern Regional Vice President of Retail Lending. Mr. Etchison joins Stonegate from Wells Fargo Bank, N.A, where he served as Area Manager for the past six years, and was responsible for managing a retail branch network of offices and mortgage advisors in Indiana and Illinois. Prior to Wells Fargo, Mr. Etchison was a Regional Sales Manager for Fifth Third Bank.

Stonegate recently completed a private equity transaction with Long Ridge Equity Partners, a New York-based private investment firm. As part of its plans, the company also announced that it intended to expand its retail branch network. Mark will contribute to this new initiative. “Mark is not only a talented executive, but a respected leader”, said Jim Cutillo CEO of Stonegate. “We are confident in his ability to lead our retail expansion in the east. Mr. Etchison will focus initially on recruiting area and branch managers in key markets”, said Steve Landes, EVP of Stonegate. “You should expect us to be a market leader in under two years”, said Etchison. “I joined Stonegate for their market leadership, company culture and exponential growth opportunities. We are positioned well in the marketplace and have the commitment, tools and technology to grow.”

The company has plans to also expand its wholesale, correspondent and financial institutions channels as well. Revenues for the first quarter were up 261% over last year and the servicing portfolio has also doubled in size, said a company spokesman. “We see a real opportunity not only to grow but to establish ourselves as an industry leader over the next two years”, said Cutillo.

About Stonegate Mortgage Corporation

Stonegate Mortgage Corporation is one of the largest and fastest growing mortgage lenders and servicers in the U.S. Backed by Long Ridge Equity Partners, a New York based private investment firm, Stonegate acquires loans and retains the mortgage servicing rights on a retail, wholesale and correspondent basis through a network of retail branches and approved third party originators.

For more information on Stonegate Mortgage Corporation, please visit www.stonegatemtg.com.

Source: Stonegate Mortgage Corp

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