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|ABA Endorses Stearns Lending's Fulfillment and Correspondent Services|
|Tuesday, 10 May 2016|
WASHINGTON – The American Bankers Association – through its subsidiary the Corporation for American Banking – has endorsed the fulfillment and correspondent lending services of Stearns Lending, LLC’s Financial Institutions Group. Stearns Lending is a leading independent mortgage lender and servicer with wholesale, retail, correspondent and strategic alliance production channels. Stearns Financial Institutions Group is the sole independent mortgage banking firm listed as an ABA Endorsed Mortgage Lending Solution.
Selecting Stearns for this endorsement followed a comprehensive due diligence process that included extensive review of the company’s mortgage fulfillment capacity, product menu, regulatory compliance framework, management strength and financial soundness. The review was conducted by industry experts and field-tested by bankers to meet stringent customer-service standards, as well as ABA’s quality standards.
“We’re pleased to work with Stearns Lending to provide our members with a price-advantaged, endorsed solution for mortgage fulfillment and correspondent loan services. The fulfillment option will enable our banks to continue meeting their customer’s mortgage financing needs, instead of exiting the market due to the increased costs and risks associated with many of the new regulations. The correspondent services will provide ABA banks with a full suite of mortgage products and services to help them be competitive in their markets,” said Bryan Luke, chairman of ABA’s Endorsed Solutions Banker Advisory Council. “This endorsement signifies our confidence that ABA’s diverse membership can rely on Stearns for top quality performance and successful results.” Luke is also president and COO of Hawaii National Bank in Honolulu.
“We are pleased to receive this endorsement from the American Bankers Association, and look forward to being a strong partner with its member institutions, many of whom already enjoy the advantages of a relationship with us,” said Dave Loyst, SVP of Stearns’ Lending Financial Institutions Group. “The primary mission of our Financial Institutions Group is to provide new mortgage lending strategies and services for ABA members and their customers. We are eager to demonstrate that our ‘I Can Help You!’ philosophy can enhance mortgage origination efforts for both large and small financial institutions.”
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