Just months after unloading its own correspondent lending platform, Stearns Lending LLC has made an acquisition that includes a correspondent business.

Back in February, the Santa Ana, California-based mortgage banker closed on the sale of its delegated correspondent lending platform to Flagstar Bancorp Inc.

Stearns Lending’s chief executive officer at the time, Brian Hale, explained before the sale that its correspondent clients will be well served by Flagstar.


Source: Mortgage Daily