Stearns Lending Soars at Record Pace for Loan Originations in 2012

  Stearns Lending Soars at Record Pace for Loan Originations in 2012

Stearns overall growth in 2012 exceeds 2011 by 107 percent

Business Wire

SANTA ANA, Calif. -- January 29, 2013

Stearns Lending, Inc., a leading nationwide mortgage lending institution
encompassing Retail, Wholesale and Correspondent business channels, announced
final production numbers for 2012.

Stearns Lending Soars at Record Pace for Loan Originations in 2012. Stearns
overall growth is 2012 e ...

Stearns Lending Soars at Record Pace for Loan Originations in 2012. Stearns
overall growth is 2012 exceeds 2011 by 107 percent. (Photo: Business Wire)

In 2012, Stearns set a company record by funding approximately 49,000 loans
for $11.8 billion. This was a 107 percent increase in volume from 2011.
Stearns Lending origination platform operates 17 regional operations centers
nationwide and is licensed in 49 states. Stearns' rapidly growing loan
servicing portfolio ended the year just under $9 billion.

Wholesale volume was up 82 percent for a total of $9 billion, while its Retail
Enterprise was up 230 percent year over year, funding over $2.1 billion.
Stearns also set records in its Correspondent division.

“We are extremely pleased with our continued growth during this opportunistic
market,” said Katherine Le, President of Stearns Lending. “We’ve taken a
proactive approach in expanding our infrastructure and creating a robust
compliance driven operation. The hard work and dedication of our people has
allowed for exceptional results, and we look to carry that momentum into 2013
and beyond.”

Stearns also had a record year in recruiting by hiring an additional 546
employees throughout 2012 and now employs approximately 1,400 staff members
nationwide.

“We are proud of our team and their accomplishments in 2012, but realize that
we still have work to do as we continue to grow our market share,” said Brian
Hale, CEO of Stearns Lending. “Stearns has become a material option for many
top tier mortgage professionals in the industry, and we have been fortunate to
add key personnel from Bank of America, Wells Fargo, MetLife Home Loans and
Nationstar Mortgage. We will continue to provide opportunity for top talent
throughout our enterprise.”

About Stearns Lending, Inc.

Headquartered in Santa Ana, California, Stearns Lending, Inc., and its
affiliated entities, have provided 23 years of exceptional mortgage lending
services throughout the United States where licenses are held. Stearns’
business channels include wholesale, retail and correspondent lending;
financial institutions mortgage outsourcing services and credit union mortgage
outsourcing services.

Stearns is licensed and approved to conduct business in 49 states with HUD
(United States Department of Housing and Urban Development). Additionally,
Stearns 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 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 is recognized as a Top 20 (2012-Q2) Residential Lender Ranked by Total
Volume; a Top 20 (2012-Q2) Residential Lender Ranked by Total Number of Loans;
the 4th largest Residential Lender Ranked by Wholesale Volume (2012 Q2); a Top
20 (2012-Q2) Residential Lender Ranked by FHA/VA Volume; and has become the
5th largest Privately Held Lender nationwide.* Stearns, as a company, funded
$25 Billion over the past three years (representing 100,000+ loans funded
“In-house”). Additionally, Stearns has been recognized by Mortgage Technology
Magazine as one of its “Top 25 Tech-Savvy Lenders” for two consecutive years
(2011 and 2012). Stearns also was named a 2012 Top Work Place by the Orange
County Register.

The Company was founded in 1989 by Glenn Stearns and is a privately held
company. Mr. Stearns received the Horatio Alger Award and was named Ernst &
Young’s Entrepreneur of the Year. In addition, he received the Orange County
Business Journal – Excellence in Entrepreneurship award.

Stearns Lending, Inc. is located at 4 Hutton Centre Drive, 10^th Floor, Santa
Ana, CA 92707.

For more information call (800) 350-LEND or visit www.stearns.com.

* Information provided by www.mortgagestats.com

2011 Horatio Alger Award Presentation

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Contact:

Stearns Lending, Inc.
Richard S. Donine, Senior Vice President – Marketing
800-350-5363
rdonine@stearns.com
www.stearns.com