Stearns Lending Employee Reviews

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4.0
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I was an UW Manager
Underwriting Manager (Current Employee) –  Lewisville, TXApril 13, 2019
Review to ensure accuracy, completeness, and compliance with company standards, federal agency standards and guidelines, incl , Reg B (ECOA), Reg C (HMDA),Reg Z (TIL), Reg X and RESPA, Fair Credit Reporting Act and Fair Lending
• Analyze customer’s loan-to-value ratio, debt-to-income ratio, credit report, application, income and assets, source(s) of
• down payment funds and supporting documentation to identify potential fraud or misrepresentation.
• Review appraisals to ensure that loans meet secondary market, investor, and company standards for lenders security
• Communicate with Processors /MLOs on collecting information and documentation necessary to finalize incomplete loan packages.
• Conduct Quality audits Compliance to Frank Dodd, ATR, QC for internal/ investor requirements.
• Provide options and recommendations to borrowers regarding suitable loan programs. Assist supervisors, processors, Lo
• and management to ensure timely closings and excellent customer service is provided.
• Current regulations and industry trends that affect compliance and decision-making. Verify that system input is accurate and that company systems match Automated Underwriting System (AUS).
• Manual/AUS approval of Conventional, Rural housing, HI Balance, Mortgage Insurance loans, FHA, MHA refinance, Streamline
• refinance/USDA Full doc and Streamline
• Use expertise to answer questions and resolve escalated issues from junior-level teammates.
• Perform other duties as assigned.
• REMOTEWORKER- SELF MOTIVATED, Strong production SLA 2 loans per day/ My average 5 to 8 loans per day
Pros
High Production
Cons
Long Hours
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2.0
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not a good place
Sr. Loan Processor (Former Employee) –  Scottsdale, AZApril 12, 2019
I don't have anything good to say about this company as they closed the office doors without any notice. We were to box our things within a matter of a couple hours and get out.
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3.0
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Same as Citywide
Administrative Assistant (Former Employee) –  Sandy, UTApril 11, 2019
Stearns and Citywide did a Corporate merge so everything is the same. High paced. Ability to jump in and work on other employee loans when they are on Vacation, sick etc. High stress and very fast paced job. High level of multi-tasking, self motivated, team player. The hardest part is the job stability and not knowing of job security.
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3.0
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Good place to start your mortgage carrier
Jr. Underwriter (Current Employee) –  Las Vegas, NVApril 5, 2019
Great place to start your mortgage carrier.... it would be nice if they would offer a bonus plan for all job positions.... It would be nice if they would offer job advancement to all employees
Pros
Flexible
Cons
No bonus plan
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3.0
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Salary was low/lay offs were high
GOVERNMENT UNDERWRITER (Former Employee) –  Santa Ana, CAApril 1, 2019
Salary was not competitive with industry standards at the time. It was a base with a per file fee. Hard to meet living expenses with this type of income. It was not commensurate with skills and experience. Work got slow and jobs were cut. Hard to feel secure with job security.
Pros
Ability to work from home.
Cons
Low salary, hours worked per day.
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1.0
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Worst job EVER
Underwriter (Former Employee) –  RemoteMarch 27, 2019
The system is NOT user friendly and took away so much time from actual underwriting. There was a constant push to underwrite more loans but it was impossible with the convoluted system they have.
Pros
Nothing!
Cons
System, work hours, stress
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1.0
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Not stable
Processing (Former Employee) –  Concord, CAMarch 20, 2019
Seems plans change constantly, lots of favoritism, and always laying off people.
A lot of the people you worked with were cool, just felt you needed to watch your back all the time. Not worth going to work if feeling like at any moment you could get laid off.
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5.0
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Stearns Lending was a great place to work.
Flagstar -Remote Senior Underwriter (Former Employee) –  Dallas, TXMarch 10, 2019
This was a great place to work and advance within the company. They treated you fairly and listened to your suggestion. I would recommend Stearns Lending
Pros
Career advancement
Cons
None
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4.0
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Good place to work
Producing Branch Manager (Former Employee) –  Pasadena, CAMarch 8, 2019
Stearns is a very large and well known company. They have a terrific lending platform with a wide variety of loan products that is an asset for all borrower's.
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3.0
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Not going in the right direction
Account Executive (Current Employee) –  Santa Ana, CAFebruary 18, 2019
Stearns was a great company, but is not going in the right direction. Management seems to have lost focus on the true objective of being the number one lender and for this reason, continues to loss market share.
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5.0
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Before the changes
Senior Shipper (Former Employee) –  Santa Ana, CAJanuary 31, 2019
Stearns Lending was a great company to work for, I was there for almost 9 years and was happy, until management started changing things and the company relocated. I was forced to look for employment elsewhere. I was sad but knew that once that door closed a new one would open to new opportunities and growth within a new company.
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3.0
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Productive environment
IT Support Supervisor (Current Employee) –  Santa Ana, CAJanuary 21, 2019
Great environment. Coworkers willing to educate and mentor. Leadership listens to their employees with recommendations. Great company to work for. Company relocating to Texas.
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4.0
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Nice place to work
Underwriter - Correspondent/Wholesale (Former Employee) –  Santa Ana, CAJanuary 16, 2019
Sterns Lending is a nice place to work. Advancement was not an option. Worked remotely for company. Retail underwriting has a great team and working remote was great.
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4.0
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Nice working enviroment and flexible hours
Senior Accountant (Current Employee) –  Santa Ana, CAJanuary 9, 2019
I really like working at Stearns with flexible hours. I have learning a new accounting software - Workday. Also, there is more space to grow at Stearns
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3.0
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Major Restructuring
Senior Research Specialist (Former Employee) –  Santa Ana, CAJanuary 7, 2019
Headquarters has been moved from Santa Ana, CA to Lewisville, TX. Stearns is merging with two other mortgage lending shops whose compliance practices seem questionable (too much production input and override authority).
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4.0
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Productive
Collateral Specialist (Former Employee) –  Santa Ana, CAJanuary 4, 2019
You were kept business. Never a boring moment. You are learning and growing with the company. They took the time to train and teach you until you understood what you are doing
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5.0
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Productive place to work with a lot of great employees.
Sr. Regulatory Exams Specialist (Current Employee) –  Costa Mesa, CAJanuary 3, 2019
I enjoyed working for Stearns over the past 4yrs. I met a lot of great people and truly enjoyed my time there. My skills and career grew tremendously.
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1.0
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If you like steady employment, Stearns is not the company for you
Closer/Funder (Former Employee) –  Draper, UTDecember 26, 2018
This company is known in the industry for hiring to fire. They hire way too many people, and as soon as there is a rate hike, the layoffs begin.

I have been laid off twice now. I gave them another chance, but no more. I found it interesting that when I was I interviewing after the first layoff, companies would remark about Stearns reputation of overhiring and laying off. That is not a good reputation for a company to have. When you add the fact that there have been no pay raises in years, you would really be testing your luck by accepting a position from Stearns. Even management is getting laid off.

Basically, Stearns problem boils down to people whose job it is to forecast future business. These projectors decide business will be slow. TIME TO GET RID OF FOLKS. So, they lay off many people, restrict hours on the remainder, walk back restricted hours to accommodate customer needs, and then rehire when the employees are suffering from major burnout from overwork and stress.
Pros
None
Cons
Poor projections.
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3.0
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productive and fun place to work
Enterprise Program Management (Current Employee) –  Lewisville, TXDecember 17, 2018
Lots of things that need to get done and small support group, this is a one person owning a ton of work environment with never ending work and not well qualified leaders.
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4.0
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High paced enviroment
Senior Mortgage Loan Processor (Former Employee) –  Maitland, FLDecember 9, 2018
My direct managers I report to are amazing!! They are incredibly understanding and knowledgeable. A great open door policy. Also, great pipeline organization and control.
Pros
Great direct manager reports
Cons
difficult to move up with in company unless you live near corporate
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Overall rating

3.3
Based on 200 reviews
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3.4Work/Life Balance
3.1Compensation/Benefits
2.6Job Security/Advancement
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