Stonegate Mortgage Elects Richard Kraemer As Chairman

(RTTNews) - Stonegate Mortgage Corp. (SGM) said Friday that Richard Kraemer has been elected Chairman of the Board of Directors in a non-executive capacity.

Richard Mirro, who had been Lead Director charged with management of the oversight functions of the Board of Directors, will remain on the Board and continue in his role as Chairman of the company's Audit Committee.

Kraemer has been a member of Stonegate's Board of Directors since May 2013 and brings with him over 35 years of experience in the residential housing finance industry. He has held several senior executive positions at multiple banks and public companies as well as served on several boards of public and private companies. Kraemer served as Chairman of the Board of Directors of Saxon Capital Inc. from 2001 through 2006. Kraemer is a member of the Board of Directors of FBR Capital Markets. He also served as a trustee and member of the audit committee of American Financial Realty Trust (AFR) from 2002 to 2008 and served as a director of Urban Financial Group, Inc. from 2001 to 2013.