Chicago-based lender Guaranteed Rate is acquiring wholesale lender Stearns Lending for an undisclosed sum, multiple sources told HousingWire Tuesday.
Employees at Stearns, a wholesale lender that is owned by financial giant Blackstone Group, were told in an all-hands call on Tuesday afternoon, sources told HousingWire.
Neither Guaranteed Rate, a heavy hitter in retail lending, nor Stearns were immediately available to comment.
This is a breaking news story. Check back for more updates.
Justin Malonson is the Founder of LyfeLoop a 16+ year tech innovator, investigative media researcher and host of the Freedom Not Control Podcast live on Voice America. Justin is a highly sought-after tech entrepreneur, industry speaker and winner of the coveted Business Achievement Awards “Top Digital Marketer” award. With 16+ years of demanding experience, Justin has worked with over 3,000 businesses including amazing clients such as Blue Cross Blue Shield Association, Sotheby’s International Realty, Duke University, White House Black Market,Tiffin Motorhomes, Bass Pro Shops and Beazer Homes USA.
