Stonegate Mortgage Corporation has announced the hiring of three new members to the company’s senior management team. The additions of Bob Conway, Brent Laurie and Phil Bowling are part of Stonegate’s focus on adding experienced mortgage industry veterans in senior roles to support its growth and expansion.
“We are thrilled to have Bob, Brent and Phil joining our team,” said CFO John Macke, “With many combined years of industry experience between the three of them, they will help accelerate the growth of our mortgage business. We are investing in smart, experienced people with deep experience in strategic planning, finance and the capital markets to support the development of our high-quality mortgage services. Our new executives will be instrumental in our continued success.”
►Bob Conway is Stonegat Stonegate Mortgage’s new Senior Vice President of Strategy and Business Development. He will report to CFO John Macke. Bob’s responsibilities will include executing strategic acquisitions, building Stonegate’s warehouse financing business and streamlining the financing process. Bob came from Two Harbors Investment Corp. where he spent a year helping Two Harbors enter the MSR business, and before that, Aurora Financial where he spent two years as a consultant managing the master servicing business. He also spent 19 years with GMAC ResCap in Minneapolis, where he performed a variety of functions including structured finance, overseeing commercial mortgage finance, the management of the Canadian mortgage business, and managing strategy and business development for ResCap.
►Brent Laurie is joining Stonegate Mortgage as Senior Vice President of Servicing Administration and will report to Executive Vice President of Loan Servicing Robert Meachum. Brent’s responsibilities will include coordinating Servicing’s corporate administration functions by serving as liaison with Finance, HR, IT and Facilities, defining requirements for financial analysis, FTE modeling, SBU reporting and assisting in the development of the bulk/flow/subservicing modeling. Brent came from Saxon Mortgage where he held the position of Senior Vice President of Financial Planning and Analysis and prior to that he was the Servicing Senior Finance officer with GMAC Mortgage Corp. In both positions, he managed the financial reporting and financial analysis departments, coordinated the annual planning process, modeled revenue enhancement alternatives such as subservicing and developed staffing models to achieve operational efficiency goals.
►Phil Bowling is Stonegate Mortgage’s new Vice President of External Financial Reporting. He will report to CFO John Macke. Phil’s responsibilities will include external financial reporting, SEC public filings, GAAP technical accounting, management of external audit relationship, regulatory financial reporting as well as SOX implementation and compliance. Phil came from WellPoint, Inc. where he spent the last 8 years heading up the investment accounting, fixed asset and financial reporting teams. Prior to that he was with Conseco, Inc. for 15 years, where he gained experience in SEC reporting, treasury, commercial mortgage servicing and investment reporting.
Stonegate recently announced that it has raised $115 million in a private offering of its common stock. FBR Capital Markets & Co acted as the sole initial purchaser and placement agent. In the transaction, Stonegate Mortgage sold a total of 6.4 million shares of its common stock for an offering price of $18 per share. The total net proceeds to Stonegate Mortgage were approximately $106.8 million.