Stonegate Mortgage CEO Steps Down, Appoints Two Company Executives

Posted by Patrick Barnard on August 31, 2015 No Comments
Categories : Residential Mortgage

Stonegate Mortgage Corp., an Indianapolis-based publicly traded mortgage company focused on originating, financing and servicing residential mortgage loans, has appointed Richard A. Kraemer as interim CEO, effective Sept. 10, and James V. Smith as president and chief operating officer (COO), effective Sept. 3, as company founder and CEO Jim Cutillo has announced his resignation.

Cutillo will retain his position as chairman of the board and will serve as a company consultant to facilitate the transition over the next six months.

Kraemer, a 35-year veteran in the financial services and mortgage banking industries, will oversee the daily management of the company until a permanent CEO is selected.

In the role of president and COO, 25-year industry veteran Smith will manage all of the company's operations, reporting to Kraemer in the interim.

‘The strategic investments we have made in technology have positioned the company for growth and success, so now is the right time for me to leave Stonegate. I am looking forward to working with Rich, Jim and others to transition the day-to-day leadership of the company and will be redirecting my entrepreneurial energy on a new endeavor going forward,’ says Cutillo.

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