MetLife Risk Executive Karen Crawford Joins Stearns Lending as Chief Legal Officer

Seasoned mortgage banking legal executive, who had most recently served at MetLife Bank, N.A., brings more than 25 years of industry legal experience to the Stearns Executive Management Team

SANTA ANA, Calif.--(BUSINESS WIRE)--Stearns Lending, Inc., a leading nationwide mortgage lending institution encompassing Retail, Wholesale and Correspondent business channels, today announced the appointment of Karen Crawford as the Company’s Chief Legal Officer. In this role, Crawford leads the overall legal, compliance, and internal audit strategy and functions for Stearns’ multi-channel mortgage origination, sales and servicing operations.

“We are extremely pleased to welcome Karen to the Stearns executive management team. Having worked with large players such as MetLife and Fannie Mae, as well as smaller, regional lenders during her impressive career, Karen has wide-ranging experience with strategies and legal matters specific to retail, wholesale and correspondent lending”

“We are extremely pleased to welcome Karen to the Stearns executive management team. Having worked with large players such as MetLife and Fannie Mae, as well as smaller, regional lenders during her impressive career, Karen has wide-ranging experience with strategies and legal matters specific to retail, wholesale and correspondent lending,” said Brian S. Hale, CEO of Stearns Lending. “Her contributions will be invaluable as we build our servicing operations and continue efforts to expand our national footprint. Karen will be key in further solidifying Stearns’ position in the marketplace as a customer and client-centric organization, while maintaining a prudent risk management focus required in today’s lending environment.”

Prior to joining Stearns Lending, Crawford served as Chief Risk Officer at MetLife Bank, N.A., where she was responsible for monitoring and mitigation of credit, operational, legal and regulatory risks of the bank’s operations. Crawford’s career has included legal positions with MetLife Home Loans mortgage division of MetLife Bank, N.A., Fannie Mae and Countrywide Home Loans. Crawford also represented clients in a variety of real estate and mortgage lending transactions during her tenure in private law practice.

“It is an exciting time to be a member of the executive team at Stearns Lending,” said Crawford. “The company is committed to growing its business and to expanding its presence in the marketplace while maintaining focus on compliance and risk management. To support that growth, Stearns is expanding its executive team of top-tier mortgage professionals, and I am very pleased to be a part of this dynamic group.”

Crawford received her Juris Doctorate from Baylor University School of Law – Waco, TX; and her Bachelor of Arts degree from Stephen F. Austin State University – Nacogdoches, TX.

About Stearns Lending, Inc.

Headquartered in Santa Ana, California, Stearns Lending, Inc., and its affiliated entities, have provided 23 years of exceptional mortgage lending services throughout the United States where licenses are held. Stearns’ business channels include wholesale, retail and correspondent lending; financial institutions mortgage outsourcing services and credit union mortgage outsourcing services.

Stearns is licensed and approved to conduct business in 49 states with HUD (United States Department of Housing and Urban Development). Additionally, Stearns 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 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 is recognized as a 2012 Top 20 Residential Lender Ranked by Total Volume; a 2012 Top 20 Residential Lender Ranked by Total Number of Loans; the 4th largest Residential Lender Ranked by Wholesale Volume 2012; a 2012 Top 20 - Residential Lender Ranked by FHA/VA Volume; and has become the 5th largest Privately Held Lender nationwide.* Stearns, as a company, funded $25 Billion over the past three years (representing 100,000 loans funded “In-house”). Additionally, Stearns has been recognized by Mortgage Technology Magazine’s as one of its “Top 25 Tech-Savvy Lenders” for two consecutive years (2011 and 2012). Stearns also was named a 2012 Top Work Place by the Orange County Register.

The Company was founded in 1989 by Glenn Stearns and is a privately held company. Mr. Stearns received the Horatio Alger Award and was named Ernst & Young’s Entrepreneur of the Year. In addition, he received the Orange County Business Journal – Excellence in Entrepreneurship award.

Stearns Lending, Inc. is located at 4 Hutton Centre Drive, 10^th Floor, Santa Ana, CA 92707.

For more information call (800) 350-LEND or visit www.stearns.com.

* Information provided by www.mortgagestats.com

2011 Horatio Alger Award Presentation