Stonegate Mortgage Corporation Hires Local Branch Manager for New Residential Mortgage Lending Office

ST. LOUIS, MO--(Marketwire - October 31, 2008) - Stonegate Mortgage Corporation, of Fishers, IN, has hired a local branch manager to open a residential mortgage lending office.

The company is proud to announce the hiring of Michael MacDonald as Branch Manager. Michael has been lending in the St. Louis metropolitan market since 1981. Most recently he was a Senior Lending Officer for Countrywide Financial Corporation from 2006-2007, and a Senior Lending Officer for JP Morgan Chase Bank from 2001-2006.

Stonegate Mortgage Corporation is a full service mortgage bank, underwriting and closing its own loans. The company has a long history focused on assisting consumers in purchasing homes through a variety of mortgage products. 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.

"I am very pleased with the addition of Mike to Stonegate. This market represents a great opportunity for Stonegate to grow, and Mike brings a wealth of experience and talent that will be great for consumers in this market," said Steve Landes, Stonegate's Executive Vice President. Landes added, "Many lenders are contracting, unable to weather the financial storm of the past year, while Stonegate, due to solid lending practices for years, is able to take advantage of these market conditions and grow our business. St. Louis will benefit from the addition of a strong lender, committed to long term success in the region."

About Stonegate Mortgage Corporation

Stonegate originates conforming and FHA loans in the Midwestern United States and expects to add an additional $120,000,000 in annual loan production from the St. Louis market, increasing the company's production to $300,000,000 annually.

For more information about Stonegate Mortgage Corporation, go to www.stonegatemtg.com.

Contact Information: Inquiries, Contact: Steve Landes Executive Vice President Stonegate Mortgage Corporation 913.432.3917 www.stonegatemtg.com