Stearns Lending has supported the mortgage community for more than 30 years, providing lenders with partnership and tools throughout a variety of market conditions, including the 2008 financial crisis, changes in QM and TRID regulations, and the current COVID-19 pandemic.
With the capital backing of Blackstone, the largest private equity firm worldwide, Stearns continues to invest in the people and technology that allow it to be a stable partner regardless of industry changes. Stearns’ clients appreciate its strong foundation as a lending partner.
Stearns is focused on “we can help you” culture, meaning everyone on its staff is there to help get answers quickly.
Each loan originator has their own dedicated Account executive and Account Manager teams. LOs are backed by underwriters, CD preparers and closers that are committed to closing their loan on time and winning more business from their referral partners.
Account executives assist in onboarding, loan scenarios and loan pricing, serving as advocates and advisers for business growth. Account managers are an LO’s internal point of contact for all transactions, including coordination of files, scheduling closings and identifying items needed to get loans closed on time.
With direct access to underwriters, LOs can discuss conditions, resolve issues and gain loan approvals. CD preparers and closers help review accuracy and deliver funds on time to ensure a smooth transaction.
Stearns continues to evolve its tech offerings to meet the needs of its broker customers, based on roundtable feedback and account executive advisory panels. Ease of use is the top driving factor for its technology options, with speed a close second.
Its SNAP2.0 solution is a broker and non-delegated portal, built with the loan originator in mind.
The SNAP2.0 portal makes it simple for brokers to get up and running quickly, and its mobile app allows brokers to access their pipeline, manage documents and access tools from anywhere.
SNAP2.0 includes the following features:
- Ability to forward lock with five pieces of information
- Calculate My Income tool that allows you to prequalify income
- Instant income verification through the Work Number
- Form-free asset verification with a push of electronic account statements
- eSign tracker for LE, disclosures and CD, with ability to re-send with one click
- FHA case number ordering
- Disclosure initiation options
Stearns also has a proprietary digital app/online 1003 and consumer portal, so brokers can use their own branding throughout the application process.
With a link or the download of an mobile app, borrowers can complete an application on the device of their choice and follow their loan as it hits milestones.
In addition to its technology, Stearns provides a broad product mix based on demand and market conditions. Its team is always looking for creative solutions to help lenders meet borrower needs.
“A continued investment in people, technology and best execution paves the way for any committed wholesale lender,” said Nick Pabarcus, EVP of Wholesale. “We plan to provide more avenues and resources to be successful in today’s everchanging landscape. Evolving with modern consumer behavior for both partners and borrowers will be the focus of 2020 and beyond.”
Nick Pabarcus, Executive Vice President, Wholesale
Nick Pabarcus brings 20 years of mortgage banking experience to his role and a broad knowledge of counterparty risk, manufacturing quality, file flow, margin management, organizational leadership and sales disciplines. He is currently active with the Mortgage Bankers Association as a CMB, AMP, a graduate of the MBA’s Future Leaders Program and an instructor with MBA education group. He’s also engaged in the advocacy effort through Mortgage Action Alliance.
Jonathan McCash, Executive Vice President, Wholesale National Sales
Jon McCash brings a wealth of experience in wholesale mortgage banking with over 18 years of experience. He is passionate about leading sales teams to consistently achieve top-performance levels in annual production. His roles have included Regional Sales Leader for MetLife Home Loans and sales positions at Countrywide and Bank of America.
Ryan Rathert. Senior Vice President, Wholesale
Ryan Rathert brings 15 years of mortgage banking experience with a primary focus in third party lending. He has been a part of the Stearns leadership team in several roles and has also held senior leadership positions at Wells Fargo and Mr. Cooper in a variety of areas, including finance, operations, retail, joint venture, correspondent and wholesale lending.