William Lyon Homes Partners with Stearns Lending to Launch William Lyon Mortgage, LLC
16 January 2015 - 8:05AM
Business Wire
Joint venture between homebuilder and
national home loan lender will offer mortgage services to William
Lyon Homes new home buyers
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.
Referenceshttp://www.insidemortgagefinance.com/
William Lyon Homes Investor/Media Contacts:Financial
Profiles, Inc.Larry Clark(310) 622-8223WLH@finprofiles.comorLisa
Mueller(310) 622-8231WLH@finprofiles.com
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