Lending, Inc., a leading national mortgage lender with Retail,
Wholesale and Correspondent business channels, announced today the
appointment of mortgage industry expert in finance, planning and
strategic alliances, Louie Colatriano as Senior Vice President
– Margin Management. In this role Mr. Colatriano will lead efforts
to profitably grow originations and maximize mortgage-production margins
across all business channels, with a special focus on the Company’s
strategic alliance business partners.
Louie Colatriano, a former Bank of America executive, joins Stearns Lending as Senior Vice President - Margin Management. Mr. Colatriano is one of many experienced executives Stearns has recently added to their leadership team. (Photo: Business Wire)
“Louie is an outstanding addition to our rapidly growing team of
residential mortgage finance experts,” said Gary Fabian, Chief
Financial Officer. “He brings a unique set of skills and experience
to Stearns, spanning the range from the intricate analysis required as a
senior financial manager to the leadership required of a C-suite
executive of highly successful joint ventures and other strategic
alliances. His contributions will be invaluable to our ambitious efforts
to profitably expand and grow Stearns’ mortgage origination business
across all production channels.”
Prior to joining Stearns Lending, Mr. Colatriano served as the National
Accounts Sales Executive for the National Builder Division and
Renovation Lending group at Bank of America Home Loans. In this
role, he served as the senior manager responsible strategic alliances
with the nation’s top home builders, including KB Homes. His other
executive roles included Senior Finance Manager for the Strategic
Alliance and Joint Ventures, where he was responsible for strategic
planning, accounting, reporting, pro forma and financial analysis, as
well as the management of a $300 Million external credit facility and an
internal treasury team.
“We are extremely pleased to welcome Louie to the Stearns leadership
team,” said Brian S. Hale, CEO of Stearns Lending. “He brings an
impressive level of expertise in both business development and financial
management to the Company, which will enhance Stearns’ ongoing efforts
to boost loan production across all lending channels. We continue to
build a world-class Strategic Development team from among the mortgage
industry’s most esteemed leaders, and we are pleased that Louie
Colatriano is bringing his exceptional talents to Stearns Lending.”
Louie Colatriano received both his Masters of Business Administration
(Business Finance) and his Bachelor of Business Administration
(Production/Operations Management) degrees from University of North
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 2012 Top 20 Residential Lender Ranked by
Total Volume; a 2012 Top 20 Residential Lender Ranked by Total Number of
Loans; the 4th largest Residential Lender Ranked by Wholesale Volume
2012; a 2012 Top 20 - 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’s 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, 10th
Floor, Santa Ana, CA 92707.
For more information call (800) 350-LEND or visit www.stearns.com.
* Information provided by www.mortgagestats.com
Horatio Alger Award Presentation
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