Stearns Tops U.S. Market Share for Wholesale Residential LoansWednesday, March 12, 2014
Santa Ana-based Stearns Lending Inc. was ranked No. 1 wholesale residential lender for 2013 by Inside Mortgage Finance Publications Inc. in Bethesda, Md.
The mortgage lender, founded and headed by Chairman Glenn Stearns, reported reaching a “record-breaking total wholesale funding volume of $9.8 billion” last year, an increase of 10% over 2012.
It also reported year-over-year market share growth of 51%, capturing 5.2% of wholesale lending market for 2013, according to Inside Mortgage Finance.
“A tremendous ‘thank you’ goes out to all our brokers for their support, feedback, and integral role in Stearns’ achievement as the nation’s leading wholesale lender,” Michael Royer, company’s executive vice president and national director of wholesale, said in a news release.