AP NEWS

Stearns Lending, LLC Leverages ClosingCorp® SmartFees® to Support Wholesale & Retail Channels

August 7, 2018

SAN DIEGO--(BUSINESS WIRE)--Aug 7, 2018--ClosingCorp, a leading provider of residential real estate closing cost data and technology for the mortgage and real estate services industries, announced today that Stearns Lending, LLC, one of the nation’s top 10 mortgage lenders, has selected ClosingCorp’s SmartFees as its rate and fee data solution.

SmartFees provides more than 4,000 Stearns brokers with vendor-verified rate and fee data from thousands of service providers located throughout the nation.

ClosingCorp SmartFees integrates loan file information, transfer tax and recording data, service provider fees from more than 70,000 rate cards, and lender business rules and requirements into a single, seamless process and platform—allowing clients to originate mortgages confidently and compliantly.

“The ClosingCorp service allows our brokers to generate actual rate and fee data from the providers we currently do business with,” said Uday Devalla, chief information officer of Stearns Lending. “We expect our cycle time to be faster and interactions with our service providers to be much more efficient, which will ultimately enhance the overall borrower experience.”

“Stearns Lending’s choice of our solution is further evidence of our unique capabilities to assist mortgage lenders in adapting their business to meet new and emerging consumer demands, as well as their need to lend more efficiently and compliantly,” said Bob Jennings, chief executive officer of ClosingCorp. “Borrowers expect a transparent, real-time process that’s highly accurate and is consistent from the quote to what’s required at the closing table.”

About Stearns Lending, LLC

Stearns Lending, LLC is a leading provider of mortgage lending services in Wholesale, Retail, Correspondent and Strategic Alliances sectors throughout the United States. Currently ranked as #3 Wholesale Lender nationwide, Stearns Lending continues to expand as a company overall, making the Inc. 5000 list of Fastest Growing Private Companies in America in 2013, 2014 and 2015, based on revenue growth of 250% over a three-year period.

Stearns Lending is an equal housing lender and is licensed to conduct business in 49 states and the District of Columbia. Additionally, Stearns Lending is an approved HUD (United States Department of Housing and Urban Development) lender; a Single Family Issuer for Ginnie Mae (Government National Mortgage Association); an approved Seller/Servicer for Fannie Mae (Federal National Mortgage Association); and an approved Seller/Servicer for Freddie Mac (Federal Home Loan Mortgage Corporation). Stearns Lending is also approved as a VA (United States Department of Veterans Affairs) lender, a USDA (United States Department of Agriculture) lender, and is an approved lending institution with FHA (Federal Housing Administration). Stearns Lending, LLC is located at 4 Hutton Centre Drive, 10th Floor, Santa Ana, CA 92707. Company NMLS# 1854.

For more information, visit www.stearns.com.

About ClosingCorp

Headquartered in San Diego, Calif., ClosingCorp owns and operates the premier source of intelligence for closing costs and service providers in the U.S. residential real estate industry. Through innovative solutions, progressive technologies and strong alliances, the company delivers timely, accurate and transparent results that help optimize closing processes and services for mortgage lenders, title and settlement companies and real estate professionals. Clients rely on ClosingCorp to help improve efficiencies and mitigate risk. For more information, please visit www.closing.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180807005035/en/

CONTACT: Campbell-Lewis Communications

Bill Campbell, 212-995-8057

bill@campbelllewis.com

or

ClosingCorp

Carol Crawford, 858-352-7434

ccrawford@closing.com

or

Stearns, LLC

Lauren Burrus, 972-521-1099

AVP, Marketing

lhowey@stearns.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT SOFTWARE PROFESSIONAL SERVICES BANKING FINANCE CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE

SOURCE: ClosingCorp

Copyright Business Wire 2018.

PUB: 08/07/2018 09:00 AM/DISC: 08/07/2018 09:01 AM

http://www.businesswire.com/news/home/20180807005035/en

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