Former Morrison & Foerster Financial Services Group Partner Joins Stearns Lending as Chief Legal Officer

Seasoned Expert on Mortgage and Financial Services Law, Thomas J. Noto to Assume Leadership Role across Legal, Risk, and Audit Functions

SANTA ANA, CA / ACCESSWIRE / November 16, 2015 / Stearns Lending, LLC, a leading provider of mortgage lending services in Wholesale, Retail, Correspondent and Strategic Alliances sectors, is pleased to announce the appointment of Thomas J. Noto to the position of Chief Legal Officer, with senior executive level responsibilities for the Company’s legal and risk functions, as well as oversight of certain Internal Audit managerial duties.

“I am very excited to welcome Tom to the Stearns’ team. His extensive and impressive legal background, with a focus in the mortgage industry, will be extremely valuable to Stearns as we continue to grow and evolve the business to become a leader in the mortgage industry,” said Brian Hale, CEO of Stearns Lending. “Together with the strength of our outstanding leadership in legal, compliance, risk and audit, Tom and team will be in an excellent position to continue to implement successful legal and risk strategies.”

Before joining Stearns, Noto was a partner in the Financial Services Group of the law firm of Morrison & Foerster, LLP, where he focused on mortgage and consumer finance regulatory, transactional and enforcement matters, which included Dodd-Frank implementation and fair lending compliance.

Early in his career, Noto served for five years as a staff attorney at the Federal Reserve Board’s Division of Consumer and Community Affairs where he was responsible for regulations under the Truth in Lending, Equal Credit Opportunity, Home Mortgage Disclosure, Electronic Fund Transfers and Expedited Funds Availability Acts. Following his tenure as a partner in a private law firm, he served as General Counsel for several mortgage lenders. Noto also was an Associate General Counsel at Bank of America, responsible for legal support to Bank of America Home Loans. He had broad responsibilities relating to mortgage and home equity lending, as well as fair lending and neighborhood lending.

“I’m excited to join this growing company and to have a talented and experienced leadership team with which to partner and implement legal and risk strategies,” said Noto. “Stearns has a fantastic legal and compliance structure in place, and ambitious goals as a mortgage industry leader. I am proud to be a part of these efforts.”

A popular speaker at industry legal and regulatory compliance events, Noto is a well-recognized expert on compliance and enforcement issues. He received his J.D. from Catholic University and his B.A. in Philosophy from Clark University and he is admitted to practice in California, Washington, D.C. and Maryland.

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 where licenses are held. Currently ranked as #1 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. In 2015, Inside Mortgage Finance also recognized Stearns as #9 in the Top 10 Direct Lenders in Q1*.

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

James Hecht
jhecht@stearns.com
Executive Vice President, Strategic Development
972-521-1055

References

*http://www.insidemortgagefinance.com/
– Top Broker Channels. Rep. no. 3M2015. Inside Mortgage Finance, May. 2015. Web. 1 Jun. 2015.
– Top Direct-Funded Originators. Rep. no. 3M2015. Inside Mortgage Finance, May. 2015. Web. 1 Jun. 2015.

**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

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