Items Tagged with 'Stearns'

ARTICLES

  • Stearns Lending continues expansion, buying piece of Citywide Home Loans

    Also closes on acquisition of minority stake in Certainty Home Loans
    Over the last few years, Stearns Lending has been in growth mode, rolling out new loan programs and acquiring new lending channels, and it appears the company is not done growing yet. Stearns announced Tuesday that it plans to acquire an equity interest in Citywide Home Loans, an independent mortgage bank with operations in 36 states.
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  • Stearns Lending launches app for brokers

    App aims to personalize lending experience
    Stearns Lending announced this week the launch of new mobile app that gives brokers and borrowers a platform to digitally streamline the lending process. bsnap, which is free and available to download on both Google Play and Apple’s App store, provides borrowers lending documentation and more.
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  • Stearns Lending begins offering $1 million+ loans with only 10% down

    Loans also do not require mortgage insurance
    Last week, Stearns Lending announced that is was expanding by acquiring the mortgage production channels of Primary Capital Mortgage. On Wednesday, Stearns Lending announced another expansion, but this one isn’t an acquisition. Rather, Stearns is expanding its loan offerings to include a new mortgage offering for borrowers looking for million-dollar houses.
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  • Stearns Lending buys mortgage production channels from Primary Capital Mortgage

    Acquires wholesale, non-delegated correspondent, and consumer direct businesses
    When Stearns Lending hired David Schneider as its new CEO back in May, the company said that Schneider would lead the company through its “next phase of growth.” On Tuesday, Stearns Lending followed up on that claim, announcing that it acquired the mortgage production channels of Primary Capital Mortgage.
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  • Stearns Lending introduces new loan program with lower payments for first two years

    Lender-paid buydown program reduces borrowers' interest rate for 24 months
    With loan originations on the decline, it seems that lenders are stepping “out of the box,” so to speak, when it comes to targeting prospective borrowers. Some lenders are offering 1% down payment programs, but what about borrowers who are more concerned with their monthly payment as opposed to their upfront costs? Stearns Lending claims to have an answer for that.
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  • Stearns Lending CEO Brian Hale steps down

    David Schneider, former president of Ditech Financial, takes over
    Over the last the last few years, Stearns Lending saw its mortgage origination volume grow from $5.7 billion in 2011 to $26 billion last year. Overseeing that growth was CEO Brian Hale, who joined the company in 2012. But Monday, May 15, 2017 was Hale’s last day as Stearns Lending’s CEO.
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  • EXCLUSIVE: How the Blackstone-Stearns Lending deal came together and what’s next

    Details on industry-shifting deal
    Almost a month ago, an announcement from Blackstone and Stearns Lending shook up the mortgage lending world. In an exclusive interview with HousingWire, the executives from Blackstone and Stearns Lending share how the deal came together and shed some light on what’s next for Stearns Lending now that it’s part of the Blackstone family.
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  • Blackstone acquires majority stake in Stearns Lending

    Blackstone’s mortgage holdings just got much larger
    Blackstone, a full-service, private-equity funded investment bank and burgeoning mortgage lending giant based in New York, is set to increase its mortgage business even more, as the company looks to acquire a majority stake in Stearns Holdings, the parent company of Stearns Lending. Click here for more details.
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