SANTA ANA, Calif.--(BUSINESS WIRE)--Stearns Lending, LLC (“Stearns”), a leading mortgage lender with Wholesale, Retail, Strategic Alliance and Consumer Direct channels, today announced the appointment of David C. Schneider to serve as Chief Executive Officer and a member of its Board of Managers effective May 15, 2017, replacing Brian Hale who is stepping down from the company.
During Mr. Hale’s tenure, Stearns experienced significant growth in origination volume to $26 billion in 2016 from $5.7 billion the year before he joined. Additionally, he helped diversify the company’s origination channels beyond wholesale lending to the retail and strategic alliances sectors.
“Over the past few years, Stearns has become a leading, national player in mortgage lending and has, what I consider to be, the best team in the industry,” said Brian Hale. “I have been honored to serve as CEO and I believe that David Schneider will continue to build upon the strong foundation the company has established.”
William H. Cary, Chairman of the Board, said: “Brian has helped lead Stearns through a period of meaningful diversification and expansion in its business, and during the transition, Brian will continue to assist the company through May 31st. We thank him for his contributions to Stearns. We are excited to have David join the Stearns team and are confident in his ability to move the company forward into its next phase of growth.”
Glenn Stearns, Founder and Board Member added: “I am so proud of Brian and all that he and the team accomplished over the past five years. He has been an exceptional leader as well as a great friend and I wish him the best. I am thrilled to welcome David to the team, and am excited about the possibilities for the future of the company.”
“It is my privilege to be appointed to lead Stearns Lending,” said David C. Schneider. “I look forward to working with Stearns’ world-class team to continue the company’s success.”
About David C. Schneider
Mr. Schneider is a seasoned mortgage industry executive with nearly three decades of experience. Most recently, he served as the President of Ditech and Executive Vice President and Chief Operating Officer of Walter Investment Management Corp. He has also previously held positions as President and COO of CitiMortgage, President of Washington Mutual Home Loans, Senior Vice President for Servicing Strategic Initiatives at JP Morgan Chase, and President and CEO of Vericrest Financial. Mr. Schneider received his BSBA in Accounting from Babson College and his MBA from Indiana University.
About Stearns Lending, LLC
Stearns Lending, LLC is a leading provider of mortgage lending services in Wholesale, Retail, and Strategic Alliances sectors throughout the United States where licenses are held. The company was ranked as the #3 Wholesale Lender nationwide by Inside Mortgage Finance in June of 2016.
Stearns Lending is an equal housing lender and is licensed to conduct business in 49 states and the District of Columbia. Additionally, Stearns Lending is an approved HUD (United States Department of Housing and Urban Development) lender; a Single Family Issuer for Ginnie Mae (Government National Mortgage Association); an approved Seller/Servicer for Fannie Mae (Federal National Mortgage Association); and an approved Seller/Servicer for Freddie Mac (Federal Home Loan Mortgage Corporation). Stearns Lending is also approved as a VA (United States Department of Veterans Affairs) lender, a USDA (United States Department of Agriculture) lender, and is an approved lending institution with FHA (Federal Housing Administration). Stearns Lending, LLC is located at 4 Hutton Centre Drive, 10th Floor, Santa Ana, CA 92707. Company NMLS# 1854.
For more information, visit www.stearns.com.