INDIANAPOLIS--(BUSINESS WIRE)--Stonegate Mortgage Corporation (NYSE:SGM), a leading publicly traded mortgage company focused on originating, financing and servicing U.S. residential mortgage loans, today announced that Richard A. Kraemer has been elected Chairman of the Board of Directors in a non-executive capacity. Richard Mirro, who had been Lead Director charged with management of the oversight functions of the Board of Directors, will remain on the Board and continue in his role as Chairman of the company’s Audit Committee.
Commenting on Mr. Kraemer’s election as Chairman, Jim Cutillo, founder and CEO of Stonegate Mortgage said, “Richard Kraemer has been an essential member of our Board and his insights and experience will be invaluable as he assumes leadership of the Board of Directors and provides strategic direction to its oversight functions. On behalf of the Board, the management team and the employees of Stonegate, I want to thank Rich Mirro for his service as Lead Director, particularly through the IPO process. We are pleased that he will remain on the Board and continue to provide leadership and service as the Chairman of our Audit Committee.”
Mr. Kraemer has been a member of Stonegate’s Board of Directors since May 2013 and brings with him over 35 years of experience in the residential housing finance industry. He has held several senior executive positions at multiple banks and public companies as well as served on several boards of public and private companies. Mr. Kraemer served as Chairman of the Board of Directors of Saxon Capital Inc., a publicly-traded mortgage real estate investment trust (“REIT”), from 2001 through 2006. Mr. Kraemer is a member of the Board of Directors of FBR Capital Markets. He also served as a trustee and member of the audit committee of American Financial Realty Trust (NYSE:AFR), a publicly-traded REIT, from 2002 to 2008 and served as a director of Urban Financial Group, Inc. from 2001 to 2013.
From 1996 to 1999, Mr. Kraemer was Vice Chairman of Republic New York Corporation, a publicly-traded holding company for Republic National Bank. From 1993 to 1996, Mr. Kraemer was Chairman and Chief Executive Officer of Brooklyn Bancorp, a publicly-traded holding company for Crossland Federal Savings Bank. Mr. Kraemer earned his Bachelor of Science degree in Business Administration with a major in Real Estate from Pace University, New York.
About Stonegate Mortgage Corporation
Founded in 2005, Stonegate Mortgage Corporation (NYSE:SGM) is a leading, publicly traded, mortgage company that originates, finances and services agency and non-agency residential mortgages through its network of retail offices and approved third party originators. Stonegate Mortgage also provides financing through its fully integrated warehouse lending platform, NattyMac. Stonegate Mortgage's operational excellence, financial strength, dedication to customer service and commitment to technology have positioned the firm as a leading provider in the emerging housing finance market.
For more information on Stonegate Mortgage Corporation, please visit www.stonegatemtg.com.
Forward Looking Statements
Various statements contained in this earnings release, including those that express a belief, expectation or intention, as well as those that are not statements of historical fact, are forward-looking statements. These forward-looking statements may include projections and estimates concerning the timing and success of specific projects and our future production, revenues, income and capital spending. Our forward- looking statements are generally accompanied by words such as "estimate," "project," "predict," "believe," "expect," "intend," "anticipate," "potential," "plan," "goal" or other words that convey the uncertainty of future events or outcomes. The forward-looking statements in this earnings release speak only as of the date of this earnings release; we disclaim any obligation to update these statements unless required by law, and we caution you not to rely on them unduly. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. These and other important factors, including those discussed in the "Risk Factors" section within our 2013 Annual Report on Form 10-K filed on March 14, 2014, may cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements.