Skip to main content

Guaranteed Rate To Acquire Stearns

Navi Persaud
Jan 06, 2021
Guaranteed Rate Logo

Guaranteed Rate entered a definitive agreement to acquire Stearns Holdings, LLC from funds managed by Blackstone.

Stearns is a national top 25 lender with more than $20 billion in origination volume in 2020, according to a press release. The company also operates in all 50 states through retail, joint venture, partnership and wholesale channels. With the acquisition, Guaranteed Rate will bolster retail loan origination and further scale its JV platform, while also developing new multichannel capabilities.

Guaranteed Rate recorded its best production year ever in 2020 and the company is looking to add another successful acquisition to its portfolio. With the deal, the company is looking to strengthen its capital markets execution and benefit from shared services capabilities to drive efficiency, growth and profitability.

Once the transaction has been finalized, Guaranteed Rate plans to integrate and rebrand Stearns Holdings' retail operation as Guaranteed Rate. The company's wholesale and partnership businesses will remain as stand-alone operations, with current Stearns CEO David Schneider continuing to lead those operations, according to the press release.

"Guaranteed Rate is a formidable player in the mortgage industry, and this combination will empower our employees and partners to reach more customers, generate more business and guide more people through the homeownership journey."

Published
Jan 06, 2021
Rocket Pro Announces Major Initiatives

Company brings Rocket Tech, the Rocket Network and Rocket Marketing to mortgage brokers across the country

Industry News
Oct 19, 2021
FormFree Taps Amazon Web Services For Consumer Financial Identity Solutions

FormFree will use Amazon's blockchain technology to manage its latest consumer Financial DNA solution and its newly introduced FormFree Exchange.

Tech
Oct 19, 2021
Synergy One Lending Increases Its Capital By $50M

San Diego-based Synergy One Lending Inc. completed a $50 million corporate note financing with a consortium of institutional investors.

Industry News
Oct 19, 2021
TransUnion Sees Untapped Growth Opportunity For The Mortgage Industry

A study conducted by TransUnion, which explores the creditworthiness of low-to-moderate income consumers, revealed that the segment represents a $300 billion growth opportunity for the mortgage industry.

Analysis and Data
Oct 19, 2021
Zillow Stock Falls After It Halts Buying Houses To Flip

Zillow’s stock fell nearly 10% Monday after the company announced its Zillow Offers division would stop buying homes.

Industry News
Oct 19, 2021
MBA Swears In New Officers For 2021-22

Kristy Fercho, executive vice president and head of home lending at Wells Fargo, is the new chairman.

Industry News
Oct 18, 2021