SANTA ANA, Calif.--(BUSINESS WIRE)--Stearns Lending, Inc., a leading national mortgage lender with Retail, Wholesale and Correspondent business channels, is proud to announce it has expanded its Retail sales management and leadership team in Northern California with a market presence in the Bay Area and the Central Valley. Joining Stearns Lending is Regional Vice President Jonathan Engler, along with Branch Managers Michael DiMaggio, Neil Khan, Kenneth Low and Jaspal Sohal.
“Our focus is on growing the offices led by Michael, Neil, Kenneth and Jaspal, as they field winning teams of originators committed to delivering for clients and referral sources throughout the Bay Area and Central Valley,” said Stearns RVP Engler.
The five members of the Stearns Northern California leadership team have previously served as sales leaders at companies that include Bank of America, CitiMortgage, and Wells Fargo, as well as regional mortgage banking firms. The team has more 100 years of combined experience in mortgage lending and related residential finance experience.
One of the key areas of focus for Stearns Lending is Metro San Francisco’s East Bay and Highway 680 corridor. According to Branch Manager Michael DiMaggio who manages this territory, “We are building teams of loan originators intent on serving the customers involved with each transaction – consumers and Realtors – with a strict eye on the compliance of all related laws.”
Retail growth at Stearns Lending is complemented by the success of the Company’s other business lines. The company had a record year in 2013, leading all other lenders in the Wholesale Channel*. The Correspondent Channel and the loan servicing portfolio have also experienced rapid growth.
“Retail, Wholesale and Correspondent production channels, along with a robust loan servicing portfolio are the four critical pillars of a strong mortgage company. These pillars enable Stearns to be a viable and healthy competitor in the changing mortgage landscape,” said Tom Hunt, Stearns Executive Vice President of National Retail Production. “With the addition of this impressive new Retail leadership team in Northern California, Stearns is very excited about the prospects for growth of our market share in this key market.”
About Stearns Lending, Inc.
Headquartered in Santa Ana, California, Stearns Lending, Inc., and its affiliated entities, are in its 25th year of providing exceptional mortgage lending services throughout the United States where licenses are held. Stearns Lending’s business channels include wholesale, retail, correspondent and financial institutions.
Stearns Lending is licensed to conduct business in 49 states with HUD (United States Department of Housing and Urban Development). Additionally, Stearns Lending is an approved Single Family Issuer for Ginnie Mae (Government National Mortgage Association); an approved Seller/Servicer for FNMA (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 Lending 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 Lending is recognized in Inc. magazine’s 2013 INC 500|5000 list, a ranking of the nation’s fastest-growing private companies. Stearns Lending has been recognized by Mortgage Technology Magazine as one of its “Top 25 Tech-Savvy Lenders” for three consecutive years (2011, 2012, and 2013). Stearns Lending also was named a 2012 Top Work Place by the Orange County Register.
Stearns Lending was founded in 1989 by Glenn Stearns. Glenn was named Ernst & Young’s Entrepreneur of the Year and received the Orange County Business Journal – Excellence in Entrepreneurship award. He also was a 2011 Horatio Alger Association of Distinguished Americans Inductee. Katherine Le, the company’s President, has been with Stearns for nearly two decades, and in 2011 was honored as an outstanding businesswoman / prominent female executive by the Orange County Business Journal.
For more information, please visit www.stearns.com. Company NMLS# 1854.