SOURCE: Stonegate Mortgage

February 28, 2007 15:49 ET

Stonegate Mortgage Corporation Completes Acquisition of 1st Signature Lending

Providing Enhanced Lending Programs to a Broader Client Base

INDIANAPOLIS, IN -- (MARKET WIRE) -- February 28, 2007 -- Stonegate Mortgage Corporation today announced the completion of its acquisition of 1st Signature Lending, a mortgage broker located in Indianapolis, Indiana. 1st Signature Lending will begin operating as Stonegate Mortgage starting March 1, 2007. The combined company will have offices in Indianapolis and Greenwood, Indiana, Florida and Michigan with nationwide lending capabilities. In 2006 the companies originated over $100mil in mortgage loans in the Indianapolis Metropolitan Area.

"1st Signature Lending's strong mortgage origination capabilities are natural complements to our mortgage banking platform and expertise," said Jim Cutillo, President of Stonegate Mortgage. "This acquisition creates enhanced revenue opportunities for both organizations and positions us to grow our market share. We are pleased to welcome our 1st Signature Lending colleagues on board."

"Stonegate's mortgage banking platform allows us to expand our origination capabilities," said John Olinger, President of 1st Signature Lending. "Combining the resources and marketing outreach of 1st Signature Lending with Stonegate's ability to underwrite, close and fund loans in-house gives us the ability to provide the highest level of service in the industry, as well as extremely competitive rates."

About 1st Signature Lending

1st Signature Lending is a mortgage broker providing high quality financial services to homeowners throughout the Midwest. The company's mission is to deliver outstanding mortgage products at the most competitive rates in the nation. The 1st Signature Lending mortgage service professionals average five years' experience in the business and strive to provide exceptional personalized service.

About Stonegate Mortgage

Stonegate Mortgage Corporation is a private mortgage bank specializing in originating, purchasing, selling and servicing both conforming and non-conforming loans for the following situations:

--  Land Acquisition and Development
--  Home Construction Lending
--  Home Purchase and/or Refinance
--  Investment Properties and/or Second Homes
--  Commercial Lending
    
Stonegate offers both retail and wholesale loan programs. For more information on Stonegate Mortgage go to www.stonegatemtg.com.

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