Stonegate Hires Cap Markets Exec as Part of Growth Plans

Stonegate Mortgage Corp. has hired former Irwin Mortgage Corp. executive John F. Macke as EVP of capital markets in line with growth plans that include the introduction of nonagency jumbos this year.

“This is all part of our growth strategy,” CEO Jim Cutillo said, noting that Macke will be taking on a typical capital markets executive role related to tying the company’s secondary market and servicing teams together.

“We’re going to be developing our own nonagency jumbo product and that’s something we plan to roll out in 2012,” he said.

Macke said in a brief interview that among the reasons he accepted the position is that the operation has strength in terms of both its servicing assets and originations.

Cutillo said this is part of the company’s competitive edge.

“Right now most correspondents don’t have the ability to retain servicing,” he said, noting that the company is positioning itself to be a national player in all loan channels with a large servicing platform.

Article source: http://www.nationalmortgagenews.com/dailybriefing/2010_514/stonegate-hires-cap-markets-exec-1028286-1.html

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