Lending, Inc., a leading privately held nationwide lending
institution encompassing Wholesale, Retail and Correspondent business
channels, announced today that they have surpassed the $1.3 Billion
mark for monthly funded production for the month of October, 2012.
“Our tremendous growth has been spearheaded by the talents and
dedication of our Outrageously Talented® Stearns Lending Team,” said Glenn
B. Stearns, the Company’s Founder and Chairman. “Their hard work and
perseverance has allowed the company to become a dominant competitor
Nationwide and we look forward to continuing on this path into 2013.”
In addition to their October 2012 funded production milestone, Stearns
reports Q3 2012 funded production of $3.150 Billion, which is a 93%
increase over Q3 2011. YTD production totals $9.4 Billion which exceeds
all 2011 production by 67%. During 2012, the company has averaged 130%
growth in every quarter, compared to the comparable quarter of 2011.
“Our growth in all channels has provided us exceptional momentum moving
into the end of the year,” said Brian S. Hale, the Company's CEO.
“We will continue to focus our efforts on providing a consistent product
and experience to all of our customers, and look forward to utilizing
this momentum to grow additional profitable market share. We have been
overwhelmed by the number and depth of talent which has approached us in
all channels and disciplines. Stearns has clearly become a material
option for some of the top talent in the industry.”
Headquartered in Santa Ana, California, Stearns Lending, Inc., and its
affiliated entities, have provided 23 years of exceptional mortgage
lending services throughout the United States where licenses are held.
Stearns business channels include wholesale, retail and correspondent
lending channels; and credit union mortgage outsourcing services.
Stearns is licensed and approved to conduct business in 48 states with
HUD, (United States Department of Housing and Urban Development).
Additionally, Stearns is a Ginnie Mae Approved Single Family Issuer
(Government National Mortgage Association); an approved Seller/Servicer
for Fannie Mae, (Federal National Mortgage Association) also known as
Fannie Mae; and, an approved Seller/Servicer for FHLMC, (Federal Home
Loan Mortgage Corporation) also known as Freddie Mac. Stearns is also
approved for VA, (United States Department of Veterans Affairs); USDA
(United States Department of Agriculture); and is an approved lending
institution with FHA, (Federal Housing Administration). Stearns also
provides Jumbo, Conventional and Portfolio loan products.
Stearns is recognized as a Top 20 (2012-Q2) Residential Lender Ranked by
Total Volume; a Top 20 (2012-Q2) Residential Lender Ranked by Total
Number of Loans; the 4th largest Residential Lender Ranked by Wholesale
Volume (2012 Q2); a Top 20 (2012-Q2) Residential Lender Ranked by FHA/VA
Volume; and has become the 5th largest Privately Held Lender
nationwide.* Stearns, as a company, funded $24 Billion over the past
three years (representing 98,000+ loans funded “In-house”).
Additionally, Stearns has been recognized by Mortgage Technology
Magazine’s as one of its “Top 25 Tech-Savvy Lenders” for two consecutive
years (2011 and 2012).
The Company was founded in 1989 by Glenn Stearns and is a privately held
company. Mr. Stearns received the 2011 Horatio Alger Award and was named
Ernst & Young’s 2003 Entrepreneur of the Year. In addition, he received
the Orange County Business Journal – 2007 Excellence in Entrepreneurship
Stearns Lending, Inc. is located at 4 Hutton Centre Drive, 10th
Floor, Santa Ana, CA 92707.
For more information call (800) 350-LEND or visit www.stearns.com.
* Information provided by www.mortgagestats.com
Horatio Alger Award Presentation