Former BofA Exec Joins Stearns Lending

Louie Colatriano, formerly of Bank of America, has joined ""Stearns Lending"":http://www.stearns.com/ as SVP of margin management, the firm announced.

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In his role, Colatriano will lead efforts to profitably grow originations and maximize mortgage production margins across all business channels with a special focus on Stearns' strategic alliance business partners.

""We are extremely pleased to welcome Louie to the Stearns leadership team,"" said Stearns CEO Brian Hale. ""He brings an impressive level of expertise in both business development and financial management to the Company, which will enhance Stearns' ongoing efforts to boost loan production across all lending channels.""

Prior to joining Stearns, Colatriano was national accounts sales executive for the National Builder Division and Renovation Lending Group at BofA. There, he served as the senior manager responsible strategic alliances with the nation's top home builders, including KB Homes. His other executive roles included senior finance manager for the Strategic Alliance and Joint Ventures.

""Louie is an outstanding addition to our rapidly growing team of residential mortgage finance experts,"" said CFO Gary Fabian. ""He brings a unique set of skills and experience to Stearns, spanning the range from the intricate analysis required as a senior financial manager to the leadership required of a C-suite executive of highly successful joint ventures and other strategic alliances.

""His contributions will be invaluable to our ambitious efforts to profitably expand and grow Stearns' mortgage origination business across all production channels.""