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Stearns Correspondent Lending is committed to meeting the needs of the Mortgage Banking community by offering an extensive product line, competitive pricing, and the tools and training that give confidence to a timely and consistent loan purchase process. 

Stearns retains only the most reputable Mortgage Bankers and its experienced staff is committed to growing your business.  A complete application and approval is required prior to any loan submissions.
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Approval Criteria

The Banker must meet the following criteria:

  • Have been in business for at least two years. If less than two years, Principals should have a minimum of five years experience, sound financials and provide a detailed business plan.
  • Have a minimum audited net worth of $1,000,000 and strong investor report cards. Clients applying for Third Party Origination approval must have a minimum net worth of $2,500,000.
  • Have E&O Insurance with minimum coverage of $300,000 and a deductible of $50,000 maximum and Fidelity bond in the amount of $300,000.
  • Have a traditional Warehouse facility (cash fundings are only permitted for Bank and Credit Union clients).
  • Be properly licensed and authorized to originate and bank loans meeting Stearns product line and underwriting standards.
  • Have a “good standing” rating with all governmental licensing and revenue collection agencies.  A correspondent who has been suspended or is currently under investigation by any governmental agency or has an open judgment in excess of $10,000 will not be approved.
  • All principal officers, owners and/or partners, and the broker of record must have an acceptable personal credit profile.  Past credit difficulties will be reviewed on a case-by-case basis.

Experience why Stearns is a leader in the industry.  For more information or to apply, complete the preapproval application or contact your current Stearns Representative.


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