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Stearns invests in smaller mortgage bankers to build retail business

Stearns Lending is buying large equity stakes in smaller mortgage banking companies as it looks to grow its retail loan production business.

In the first of these transactions Stearns closed on its purchase of a 50.2% equity interest in Certainty Home Loans.

"Today's successful mortgage companies understand the power of economies of scale and combined resources," Stearns CEO David Schneider said in a press release. "Certainty Home Loans' strong retail, consumer-centric model, along with our wholesale, retail and strategic alliance sectors, allows us to provide our employees, customers and partners with industry-leading technology and resources that help the dream of homeownership become a reality. For Stearns Lending, the partnership helps accelerate the growth of Stearns' retail sales channel and broadens our geographic footprint."

Stearns is headquartered in Santa Ana, Calif.

The deal has been termed as a "shared equity partnership" by the two companies and is the first in Stearns' Preferred Partnership program. Plano, Texas-based Certainty Home Loans keeps its leadership, brand name and culture, but gets access to Stearns' technology and capital markets expertise.

Stearns Lending and Certainty Home Loans Close Shared Equity Partnership Deal

Stearns Lending, LLC , a leading provider of mortgage lending services in Wholesale, Retail, and Strategic Alliance sectors, today announced the close of its shared equity partnership deal with Certainty Home Loans , an independent mortgage banker that delivers a confident closing, with the terms agreed upon, and the timing promised.

“Today’s successful mortgage companies understand the power of economies of scale and combined resources. Certainty Home Loans’ strong retail, consumer-centric model along with our wholesale, retail and strategic alliance sectors, allows us to provide our employees, customers, and partners with industry-leading technology and resources that help the dream of homeownership become a reality,” said David Schneider, CEO of Stearns Lending. “For Stearns Lending, the partnership helps accelerate the growth of Stearns’ retail sales channel and broadens our geographic footprint.”

This partnership launches Stearns’ new Preferred Partner Platform which leverages Stearns’ experience with its current Joint Venture business model which currently operates under ten different brands across the country. As the first Preferred Partner, Certainty Home Loans has access to Stearns’ industry-leading technology, direct access to capital markets expertise, and operational excellence.

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