Stonegate Mortgage Corporation to Open Full-Service Retail Office in Minneapolis/St. Paul Area

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Mike Hueg named senior manager for the Minnesota market. Stonegate plans to hire 20 new Minnesota mortgage professionals to serve the area.

Stonegate Mortgage Corporation

Lender of Choice

In every market in which we operate, Stonegate has established itself as the Lender of Choice by being accountable, responsible and accessible to our customers. We are committed to this goal as we move into the Minnesota market.

Stonegate Mortgage Corporation, the fastest growing independently owned mortgage lender in the U.S., today announced plans to open a full-service retail office in Minneapolis / St. Paul by November 15th. Founded in 2005, Stonegate’s expansion into the Minnesota market via its ninth national retail office underscores the tremendous growth the company has enjoyed as a result of its steadfast commitment to customer service, responsible lending and a disciplined approach to the mortgage finance and servicing business.

“We believe that the Twin Cities will be a successful growth market for our company,” said Matt Locke, Senior Vice President of Retail Lending at Stonegate. “In every market in which we operate, Stonegate has established itself as the Lender of Choice by being accountable, responsible and accessible to our customers. We are committed to this goal as we move into the Minnesota market.”

To head the team, Stonegate announced that Mike Hueg has been appointed as Senior Manager for the Minnesota market. As former Senior Vice President and Regional Mortgage Director at Associated Bank, Hueg brings 22 years of mortgage banking experience, including four years as board member for Community Neighborhood Housing Services and three years as Chairman of their Loan Committee.

“Mike is a proven producer with a tremendous reputation and network in the Minnesota mortgage market, making him the perfect person to represent Stonegate Mortgage and lead our expansion efforts,” said Dan Bettenburg, President of Stonegate Mortgage.

To aid in the expansion, Stonegate plans to add to its best in class team of mortgage professionals by hiring a sales staff of twenty team members in Minnesota within the next year, including a Branch Manager, ten to fifteen seasoned Mortgage Advisors, and loan processors. Hueg has detailed plans for Stonegate’s presence in the Minnesota market: in 2012, he is determined to grow annual closed volume to $75–$100 million, while by 2013 he plans to increase closed volume levels to in excess of $100 million. Hueg will join Bettenburg in Stonegate’s new Minnesota office located in the International Plaza building in Bloomington.

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 21 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, please visit http://www.stonegatemtg.com.

Contact:

Lynne Coverdale
Director, Strategic Initiatives
Stonegate Mortgage Corporation
317.570.0450 x307
lcoverdale(at)stonegatemtg(dot)com

Tony Imperati
Sloane & Company
212.446.1865
timperati(at)sloanepr(dot)com

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Lynne Coverdale

Tony Imperati
Sloane & Company
212.446.1865
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