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Flagstar and Stearns' Correspondent Lenders

As you may have heard, Flagstar Bank recently acquired the delegated correspondent platform from Stearns Lending, LLC. The entire Stearns' delegated correspondent team, as well as its operations platform, is slated to become part of Flagstar in the near future.

As you know, both Flagstar and Stearns are experienced in the delegated business and fully committed to the third-party channel. This was an attractive opportunity for Flagstar to acquire a team from a respected player in the delegated space who shares our values and commitment to customer service and partnerships.

First and foremost, we want to ensure your transition to a single Flagstar delegated correspondent platform is a great experience. In the near term, please continue to do business with both teams as you have in the past while we work to combine our platforms. We will keep you informed of our progress along the way.

We understand that listening to customers is key to providing great service. That’s why we’ll soon be surveying you to find out what you want from our new partnership, including your preference in systems, processes, and personnel. Your feedback will help us work together to craft a best-in-class correspondent platform that is a perfect fit for your needs.

At Flagstar our motto is to do the right thing the right way the first time, and that is the approach we will take in combining our teams. We look forward to continuing to serve you and work with you to set a new standard of excellence in correspondent lending.

Sincerely,
The Flagstar Team


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