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Stearns Lending Restructures Management

New executive designations

Aug. 24, 2016

By Mortgage Daily staff



Voracious growth has led Stearns Lending LLC to make changes to its management structure and to the titles utilized by its executive team.

The Santa Ana, California-based firm has grown its mortgage originations from less than $6 billion in 2011 to more than $25 billion last year.

During that same period, staffing has expanded from fewer than 900 employees at the end of 2011 to more than 1,900 people this year.

The mortgage servicing portfolio, which stood at just $1.1 billion as of Dec. 31, 2011, now stands at $23.9 billion.

Last year, The Blackstone Group LP acquired a majority interest in Stearns Lending.

On Wednesday, Stearns Lending -- which was founded by Glenn Stearns in 1989 -- announced that it will implement a multi-layered managing directorship structure and begin to use new designations.

"In keeping with industry practices, our new structure and accompanying market-competitive designations more clearly reflect levels of responsibility across our management team," Stearns Lending Chief Executive Officer Brian Hale stated in the announcement. "These changes also represent meaningful career opportunities for others at Stearns."

Among the executives to receive the new designations was James Hecht, who Stearns Lending last week said was promoted to chief operating officer, executive managing director, from executive vice president, strategic development.

As for the rest of the management staff, here's the lineup along with the new titles:

  • Uday Devalla, chief information officer, senior managing director;
  • Blythe Hughes, chief administration officer, senior managing director;
  • Tom Neary, chief investment officer, senior managing director;
  • Tom Noto, chief legal officer, senior managing director;
  • Steve Smith, chief financial officer, senior managing director;
  • Mary Malloy, managing director, capital markets;
  • Kathleen Vaughn, senior managing director, third-party originations;
  • John Adam, managing director, retail;
  • Suzy Lindblom, managing director, national fulfillment and operations; and
  • Michael Royer, managing director, wholesale.

Stearns Lending profile

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