Who owns stearns lending

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We apologize for any inconvenience this may cause. One of our representatives will be in touch soon to help get you started with your demo. Funds managed by private equity giant The Blackstone Group Inc. The deal is expected to create a key player in the U. Stearns CEO David Schneider will continue to head the company's wholesale and partnership businesses, which will still operate independently. Blackstone will hold an interest in Guaranteed Rate. Stearns is a mortgage lender that operates through retail, joint venture, partnership and wholesale channels across all 50 U.

Its partnership model spans real estate agent, builder and relocation joint ventures, private-label relationships and independent mortgage bank preferred partnerships, including the SoFi and Home Mortgage Alliance LLC brands. These entities will be added to Guaranteed Rate's existing joint ventures with real estate service firm Realogy Holdings Corp.

HousingWire sat down with Mike Darne to talk about credit trends in a purchase market and how that impact lenders' pipelines. This episode covers the one-stop shop brokerage model, things that brokerages can do to help counter margin compression and how to shield your real estate business in a changing market. Chicago-based lender Guaranteed Rate is acquiring multi-channel lender Stearns Holdings for an undisclosed sum, multiple sources told HousingWire Tuesday.

Employees at Stearns, which is owned by financial giant Blackstone Group , were told in an all-hands call on Tuesday afternoon, sources told HousingWire. Achieving Touchless Mortgage Automation.

Effective solutions must be purpose-built for mortgages, rather than adapted horizontal technology. Stearns has exclusive partnerships with real estate agent, builder and corporate relocation joint ventures, as well as a book of business with SoFi and Home Mortgage Alliance.

The strategy dovetails nicely with that of Guaranteed Rate, which has joint ventures with brokerage conglomerate Realogy and Chicago-based properties. Blackstone took full control of Stearns in fall after it exited bankruptcy due to significant debt problems. Guaranteed Rate said it expects that the deal to strengthen its capital markets execution and produce synergies that will allow for stronger profitability in the years to come.

Founded in and known for its robust retail operations, Guaranteed Rate has been growing in stature in recent years. Guaranteed Rate ended the year as the 11th-largest lender in the country, according to Inside Mortgage Finance. Already a member? We make a commitment to get the job done correctly and on time — with integrity, responsibility and accountability. We will do what we said we will do, and deliver on promises made. Our team members went all out and collected more than 30, Care Kit items during the month of November.

Our goal was to provide 2, Care Kits, and we succeeded in producing nearly double that number. In addition, hundreds of Stearns employees donated items and volunteered their time. It was a powerful demonstration that the "I can help you" culture at Stearns includes making a positive difference in the lives of others.

Stearns Consumer Portal. Loan Servicing Portal. I can help you!