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Flagstar Bancorp is set to expand its correspondent lending business as the bank announced on Monday its intention to acquire Stearns Loanthe delegated correspondent lending activity of . According to details provided by Flagstar, Stearns’ correspondent business includes approximately 250 correspondent relationships, which generate more than $7 billion in agency and government residential mortgage production …

SANTA ANA, Calif.–(BUSINESS WIRE)–Stearns Lending, LLCone of the leading providers of mortgage services in the wholesale, retail, strategic alliance and consumer direct industries, today announced the sale of its delegated correspondent lending business to Flagstar Bancorp, Inc. The company remains fully committed to its production in all other channels, including its Non-Delegated Correspondent product offerings. …