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For Immediate Release
May 9, 2016
ABA Media Contact: John Hall
(202) 663-5473
Email: jhall@aba.com
Follow us on Twitter:
@ABABankers

Stearns Media Contact: James Hecht
(972) 521-1055
Email: jhecht@stearns.com

ABA Endorses Stearns Lending’s Fulfillment and Correspondent Services

 

WASHINGTON – The American Bankers Association – through its subsidiary the Corporation for American Banking – has endorsed the fulfillment and correspondent lending services of Stearns Lending, LLC’s Financial Institutions Group. Stearns Lending is a leading independent mortgage lender and servicer with wholesale, retail, correspondent and strategic alliance production channels. Stearns Financial Institutions Group is the sole independent mortgage banking firm listed as an ABA Endorsed Mortgage Lending Solution.
 
 Selecting Stearns for this endorsement followed a comprehensive due diligence process that included extensive review of the company’s mortgage fulfillment capacity, product menu, regulatory compliance framework, management strength and financial soundness. The review was conducted by industry experts and field-tested by bankers to meet stringent customer-service standards, as well as ABA’s quality standards. 
 
“We’re pleased to work with Stearns Lending to provide our members with a price-advantaged, endorsed solution for mortgage fulfillment and correspondent loan services. The fulfillment option will enable our banks to continue meeting their customer’s mortgage financing needs, instead of exiting the market due to the increased costs and risks associated with many of the new regulations. The correspondent services will provide ABA banks with a full suite of mortgage products and services to help them be competitive in their markets,” said Bryan Luke, chairman of ABA’s Endorsed Solutions Banker Advisory Council. “This endorsement signifies our confidence that ABA’s diverse membership can rely on Stearns for top quality performance and successful results.” Luke is also president and COO of Hawaii National Bank in Honolulu.
 
“We are pleased to receive this endorsement from the American Bankers Association, and look forward to being a strong partner with its member institutions, many of whom already enjoy the advantages of a relationship with us,” said Dave Loyst, SVP of Stearns’ Lending Financial Institutions Group. “The primary mission of our Financial Institutions Group is to provide new mortgage lending strategies and services for ABA members and their customers. We are eager to demonstrate that our ‘I Can Help You!’ philosophy can enhance mortgage origination efforts for both large and small financial institutions.”
 
Stearns has been providing mortgage fulfillment solutions to financial institutions for more than 18 years, offering customizable solutions to enhance the mortgage platform of both large and small financial institutions. The company is an approved lender for government programs (FHA, USDA, VA) and is an approved seller-servicer with the GSEs, which helps its financial institution partners meet their customers’ needs for a more robust loan product mix while reducing costs and mitigating recent compliance and regulatory challenges. For more information on this and more ABA endorsed solutions, visit www.aba.com/endorsed or call 1-800-BANKERS.
 
About American Bankers Association
The American Bankers Association is the voice of the nation’s $16 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $12 trillion in deposits and extend more than $8 trillion in loans. Learn more at www.aba.com.
 
About Stearns Lending, LLC
Stearns Lending, LLC is a leading provider of mortgage lending services in Wholesale, Retail, Correspondent and Strategic Alliances sectors throughout the United States. Currently ranked as #2 Wholesale Lender nationwide*, Stearns Lending continues to expand as a company overall, making the Inc. 5000 list of Fastest Growing Private Companies in America in 2013, 2014 and 2015, based on revenue growth of 250% over a three-year period. Stearns Lending is an equal housing lender and is licensed to conduct business in 49 states and the District of Columbia. Additionally, Stearns Lending is an approved HUD (United States Department of Housing and Urban Development) lender; a Single Family Issuer for Ginnie Mae (Government National Mortgage Association); an approved Seller/Servicer for Fannie Mae (Federal National Mortgage Association); and an approved Seller/Servicer for Freddie Mac (Federal Home Loan Mortgage Corporation). Stearns Lending is also approved as a VA (United States Department of Veterans Affairs) lender, a USDA (United States Department of Agriculture) lender, and is an approved lending institution with FHA (Federal Housing Administration). Stearns Lending, LLC is located at 4 Hutton Centre Drive, 10th Floor, Santa Ana, CA 92707. Company NMLS# 1854.
For more information, visit www.stearns.com.
 
About Corporation for American Banking
ABA endorsed solutions help banks make money, save money, diversify income and improve efficiency. Backed by our comprehensive due-diligence process, these select solutions are analyzed by industry experts, field-tested by bankers and meet stringent quality and customer-service standards. From compliance and insurance to payments and mortgage lending, you’ll find products and services to enhance your bank’s bottom line. Learn more at www.aba.com/endorsed.
 
 
 
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