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Stearns Buys Georgia Lender

Santa Ana-based mortgage lender Stearns Lending LLC said it acquired the wholesale, nondelegated correspondent and consumer-direct lending businesses of Primary Capital Mortgage LLC.

Terms of the transaction were undisclosed.

Atlanta-based PCM has experienced “significant growth” in the past four years, originating $1.9 billion last year, said a Stearns statement.

Stearns has offered positions to PCM mortgage production-related employees impacted by the transaction.

“Our two organizations both have complementary strengths and a commitment to excellence, which make our companies well suited to join forces,” Stearns Lending Chief Executive David Schneider said in the statement.

Houlihan Lokey served as the exclusive financial adviser to PCM.

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Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.
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