Stonegate Mortgage Corporation Officially Opens Kansas City Retail Center

LENEXA, KS--(Marketwire - May 21, 2008) - Stonegate Mortgage Corporation (Stonegate), headquartered in Fishers, Indiana, officially opened its Kansas City mortgage banking center on Monday, May 12, 2008. Stonegate is a direct correspondent lender and is approved by HUD (FHA) and the USDA as a delegated underwriter. The company will operate in the space formally occupied by Midwest Equity Mortgage at 13600 W. 95th Street, Lenexa, Kansas.

"Our multi-state expansion is part of Stonegate's strategy to offer its mortgage banking platform to affiliates in key markets," stated Stonegate President, Jim Cutillo. "Stonegate's affiliate business model is a hybrid retail model that provides wholesale pricing to our affiliate branches and creates multiple revenue opportunities for each branch operation."

Stonegate has announced the hiring of Kevin Roller and David Hopper, formerly of Midwest Equity Mortgage, as Regional Managers. The office opened with 21 initial employees involved in the origination and processing of residential mortgage loans for clients in the State(s) of Kansas and Missouri. "This is an extremely talented staff, long known as leaders in the mortgage business in the Kansas City area," said Steve Landes, Executive Vice President of Stonegate.

"We expect this office to be producing in excess of $15 Million per month in residential home loans by the 4th quarter of 2008," said Landes. Stonegate has also hired personnel to open additional mortgage banking centers this year in St. Louis, MO, Columbus, OH, and Nashville, TN. These are in addition to the current centers operational in Kansas City and Indianapolis, IN.

The Company anticipates, with the additional growth of these offices, to fund an excess of $125 Million in loan volume in 2008. Stonegate plans to expand its corporate office in Indianapolis, adding 15 to 20 associates to its operations team in 2008.

About Stonegate Mortgage's Affiliate Branch Program

Highlights of the affiliate branch (loan officer) program include 100% commission, industry Best X pricing, in-house underwriting and centralized closing and funding. Go to www.stonegatemtg.com for more information on the company.

Contact Information: Inquiries, Contact: Steve Landes, Executive Vice President Stonegate Mortgage Corporation 913-522-2997 www.stonegatemtg.com