Former Caliber Home Loans Executive Phil Riccio Joins Stearns Lending’s Finance Team

Industry expert brings skills and leadership experience to his role as Senior Vice President, Margin Management

SANTA ANA, CA / ACCESSWIRE / October 13, 2016 / Stearns Lending, LLC, a leading provider of mortgage lending services in Wholesale, Retail, Correspondent and Strategic Alliances sectors, today announced that mortgage industry veteran Phil Riccio has joined Stearns as Senior Vice President, Margin Management, responsible for mortgage production margins and profitably growing originations.

“We are very pleased that Phil Riccio has joined the team. He is a highly effective leader with a track record for exemplary performance in pricing analytics, financial analysis and secondary mortgage marketing,” said Stearns CEO, Brian Hale. “Phil’s contributions will be invaluable to our continued efforts to profitably grow originations, as the Company also experiences accelerated production volume growth.”

Riccio brings strong leadership and more than 15 years of mortgage industry experience to his new role at Stearns. Prior to joining the Company, he served as Vice President, Margin Management at Caliber Home Loans. Earlier in his career, Riccio held leadership positions in margin management, pricing strategies, and trading and secondary marketing functions at Nationstar Mortgage, MetLife Home Loans and Bank of America, among others.

“I am thrilled to join the Finance team at Stearns. This Company is led by the industry’s most creative, dedicated individuals and they’ve built a world-class organization,” said Riccio. “I look forward to contributing to the Company’s efforts to accelerate growth, in a profitable and thoughtful manner.”

For more than 25 years, Stearns has been helping employees, borrowers and business partners to reach their goals by successfully exceeding expectations and leading the industry with innovation and efficiency. To learn more about Stearns, visit stearns.com and join.stearns.com.

About Stearns Lending, LLC

Stearns Lending, LLC is a leading provider of mortgage lending services in Wholesale, Retail, Correspondent and Strategic Alliances sectors throughout the United States. Currently ranked as #2 Wholesale Lender nationwide*, Stearns Lending continues to expand as a company overall, making the Inc. 5000 list of Fastest Growing Private Companies in America in 2013, 2014 and 2015**, based on revenue growth of 250% over a three-year period.

Stearns Lending is an equal housing lender and is licensed to conduct business in 49 states and the District of Columbia. Additionally, Stearns Lending is an approved HUD (United States Department of Housing and Urban Development) lender; a Single Family Issuer for Ginnie Mae (Government National Mortgage Association); an approved Seller/Servicer for Fannie Mae (Federal National Mortgage Association); and an approved Seller/Servicer for Freddie Mac (Federal Home Loan Mortgage Corporation). Stearns Lending is also approved as a VA (United States Department of Veterans Affairs) lender, a USDA (United States Department of Agriculture) lender, 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, visit www.stearns.com.

Media Contact

Brad Hoke
bhoke@stearns.com
Executive Vice President
972-521-1057

References

*http://www.insidemortgagefinance.com/

Top Broker Channels. Rep. no. 12M2015. Inside Mortgage Finance, Dec. 2015. Web. 15 Mar. 2016.

**http://www.inc.com/profile/stearns-lending

“The 2013 Inc. 5000.” The 2013 Inc. 5000. Inc.com, Aug. 2013. Web. 18 Mar. 2015.
“The 2014 Inc. 5000.” The 2014 Inc. 5000. Inc.com, Aug. 2014. Web. 18 Mar. 2015.
“The 2015 Inc. 5000.” The 2015 Inc. 5000. Inc.com, Aug. 2015. Web. 18 Aug. 2015.

SOURCE: Stearns Lending, LLC

ReleaseID: 446776