William Lyon Homes (NYSE: WLH), a leading homebuilder in the Western U.S., today announced that it has entered into an agreement with Stearns Lending, LLC, to form William Lyon Mortgage, LLC, a limited liability company that will offer an array of mortgage banking services. William Lyon Mortgage, LLC will be launched in phases across William Lyon Homes’ Western regional markets of Arizona, Colorado, Nevada and California, and is expected to be fully-deployed by the second half of 2015.
“We are excited to announce the launch of William Lyon Mortgage, LLC and believe that this new venture will benefit our homebuyers and complement our homebuilding operations, while providing an additional source of earnings for the Company,” said Matthew R. Zaist, President and Chief Operating Officer of William Lyon Homes. “We know Stearns Lending well because it has provided stellar service to many of our customers over the years, as reflected in our post-closing surveys. Stearns’ commitment to customer satisfaction and its thorough understanding of the unique needs of the homebuilder have resulted in a consistent closing and delivery process that is valuable to our customers and shareholders. Our new joint venture with Stearns Lending will build on those qualities and will further enhance the experience of our homebuyers.”
Stearns Lending, LLC, the eighth largest direct lender in the country, is a non-bank mortgage originator and servicer that offers FHA, VA, USDA, conventional conforming and jumbo mortgage products directly to consumers and through its wholesale and correspondent lending channels.
“It is an honor to be selected as the partner for William Lyon Mortgage, LLC. William Lyon Homes is a great company. We have thoroughly enjoyed working with the Lyon management team and Lyon customers and look forward to our joint venture relationship,” said Brian Hale, Chief Executive Officer of Stearns Lending, LLC. “This partnership reflects our ability to deliver consistent solutions to a premier homebuilder while underscoring our commitment to serving the needs of home buyers.”
William Lyon Mortgage, LLC and Stearns Lending services are available to all William Lyon Homes homebuyers. To learn more, and locate a community near you, visit www.lyonhomes.com.
About William Lyon Homes
William Lyon Homes is one of the largest Western U.S. regional homebuilders. Headquartered in Newport Beach, California, the Company is primarily engaged in the design, construction, marketing and sale of single-family detached and attached homes in California, Arizona, Nevada, Colorado, Washington and Oregon. Its core markets include Orange County, Los Angeles, San Diego, the San Francisco Bay Area, Phoenix, Las Vegas, Denver, Seattle and Portland. The Company has a distinguished legacy of more than 59 years of homebuilding operations, over which time it has sold in excess of 93,000 homes. The Company markets and sells its homes under the William Lyon Homes brand in all of its markets except for Colorado, where the Company operates under the Village Homes brand, and Washington and Oregon, where the Company operates under the Polygon Northwest brand.
About Stearns Lending, LLC
Headquartered in Santa Ana, California, Stearns Lending, LLC and its affiliated entities, are celebrating its 25th anniversary of providing exceptional mortgage lending services throughout the United States. Stearns Lending’s business channels include wholesale, retail, correspondent and strategic alliances.
Stearns Lending was founded in 1989 by Glenn Stearns.
Stearns Lending is licensed to conduct business in 49 states and the District of Columbia with HUD (United States Department of Housing and Urban Development). Additionally, Stearns Lending 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 Lending 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 Lending, LLC is located at 4 Hutton Centre Drive, 10th Floor, Santa Ana, CA 92707. Company NMLS# 1854. For more information, please visit www.stearns.com.
References
http://www.insidemortgagefinance.com/
