TROY, Mich., Feb. 28, 2017 /PRNewswire/ -- Flagstar Bancorp,
Inc. (NYSE: FBC) announced today it has closed the transaction
announced Feb. 6, 2017 to acquire the
Residential Mortgage Delegated Correspondent Lending platform of
Stearns Lending, LLC, along with certain related assets. Terms of
the transaction were not disclosed.
About Flagstar
Flagstar Bancorp, Inc. (NYSE: FBC) is a $14.1 billion savings and loan holding company
headquartered in Troy, Mich.
Flagstar Bank, FSB, provides commercial, small business, and
consumer banking services through 99 branches in the state. It also
provides home loans through a wholesale network of brokers and
correspondents in all 50 states, as well as through 41 retail
locations in 21 states. Flagstar is a leading national originator
and servicer of mortgage loans, handling payments and record
keeping for $80 billion of home loans
representing 383,000 borrowers. For more information, please visit
flagstar.com.
Forward-Looking Statements
This communication contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements are based on the current beliefs and
expectations of Flagstar Bancorp, Inc.'s management and are subject
to significant risks and uncertainties. Actual results may differ
from those set forth in the forward-looking statements. Factors
that could cause the Company's actual results to differ materially
from those described in the forward-looking statements can be found
in periodic Flagstar reports filed with the U.S. Securities and
Exchange Commission, which are available on the Company's website
(flagstar.com) and on the Securities and Exchange Commission's
website (sec.gov). Other than as required under United States securities laws, Flagstar
Bancorp does not undertake to update the forward-looking statements
to reflect the impact of circumstances or events that may arise
after the date of the forward-looking statements.
For further information
ANALYSTS: David Urban, Senior
Vice President, Investor Relations, (248) 312-5970
MEDIA: Susan Bergesen,
Corporate Communications, (248) 312-6237
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SOURCE Flagstar Bancorp, Inc.