Stearns Lending sells delegated correspondent lending business to Flagstar

Flagstar Bancorp is about to grow its correspondent lending business, as the bank announced Monday that it plans to acquire Stearns Lending’s delegated correspondent lending business.

According to details provided by Flagstar, Stearns correspondent business includes approximately 250 correspondent relationships, which produce more than $7 billion of agency and governmental residential mortgage loan production annually.

Read on.


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