SOURCE: Latisys


July 09, 2012 06:55 ET

Stearns Corporate Relocation Powered by Latisys IT Infrastructure Services Platform

Benefits of Moving From CapEx to OpEx Model Identified as Key Factors in Decision to Outsource IT Infrastructure

ENGLEWOOD, CO--(Marketwire - Jul 9, 2012) - Latisys, Inc., a leading national provider of outsourced IT solutions delivered on a high density, high security platform -- from colocation to cloud -- today announced an IT infrastructure services agreement with Stearns Lending, Inc., a leading privately held nationwide lending institution encompassing Correspondent, Wholesale and Retail business channels.

Stearns' rapid growth necessitated moving to a larger corporate headquarters in Southern California. The corporate relocation initiative included analysis that pointed to significant savings and modernization benefits if Stearns could also make the shift from a capital expenditure (CapEx)-oriented model of IT spend to an operational expenditure (OpEx) model by outsourcing its IT infrastructure. 

Under terms of the multiyear IT infrastructure services agreement, Stearns will deploy on Latisys' Infrastructure as a Service (IaaS) platform, securing high-density space, power, and bandwidth from Latisys' new SOC 2 and SOC 3 audited data center in Irvine, California. In addition, Latisys is providing Stearns with critical disaster recovery services from its high-density Denver data center.

"Stearns' number one goal is to provide exceptional mortgage lending services nationally," said Brian S. Hale, CEO, Stearns Lending, Inc. "By outsourcing IT to an industry leader like Latisys, our IT team can now shift their focus from data center and infrastructure management to delivering the critical services and applications that result in a competitive edge and true business value."

"As a leading financial services firm, Stearns Lending clearly recognizes the need to leverage IT to gain business advantage," said Pete Stevenson, Chief Executive Officer, Latisys. "By providing best-in-class technology and high density infrastructure solutions, Latisys enables Stearns to focus precious IT resources on core projects and applications in ways that greatly enhance their business."

Latisys' data center platform is now operated under SOC 2 Type 2 and SOC 3 audited controls. This replaces the SAS 70 guidebook and reaffirms Latisys' commitment to meet the highest standards for availability and security, while making sure all of the appropriate controls and safeguards are firmly in place.

Earlier this year, Latisys announced that it is adding 72,000 square feet of highly secure, high density, carrier grade IT infrastructure space along with significant power upgrades. Latisys' total data center platform now exceeds 343,000 square feet across seven data centers in four major markets. 

About Stearns Lending, Inc.
Headquartered in Santa Ana, California, Stearns Lending, Inc. has provided 23 years of exceptional mortgage lending services throughout the United States where licenses are held. Stearns business channels include wholesale, retail and correspondent lending; financial institution mortgage outsourcing services; appraisal management services; and, verification services of 4506-T's, and SSN's.

Stearns is licensed and approved to conduct business in 47 states with HUD, (United States Department of Housing and Urban Development). Additionally, Stearns is a Ginnie Mae Approved Single Family Issuer (Government National Mortgage Association); an approved Seller/Servicer for Fannie Mae, (Federal National Mortgage Association) also known as Fannie Mae; and, an approved Seller/Servicer for FHLMC, (Federal Home Loan Mortgage Corporation) also known as Freddie Mac. Stearns is also approved for VA, (United States Department of Veterans Affairs); USDA (United States Department of Agriculture); and is an approved lending institution with FHA, (Federal Housing Administration). Stearns also provides Jumbo, Conventional and Portfolio loan products.

Stearns is recognized as a Top 20 (2011-Q4) Residential Lender Ranked by Number of Loans; FHA/VA Volume and Wholesale Volume; and has become the 5th largest Privately Held Lender nationwide.* Stearns, as a company, funded $20 Billion over the past three years (representing 83,000+ loans funded "In-house"). In addition, Stearns has been recognized by Mortgage Technology Magazine as one of its "Top 25 Tech-Savvy Lenders" and Origination News in its selection of the "Top Residential Wholesalers" in 2011 Q2, Q3 and Q4.

The Company was founded in 1989 by Glenn Stearns and is a privately held company. Mr. Stearns received the 2011 Horatio Alger Award and was named Ernst & Young's 2003 Entrepreneur of the Year. In addition, he received the Orange County Business Journal -- 2007 Excellence in Entrepreneurship award.

Stearns Lending, Inc. is located at 4 Hutton Centre Drive, 10th Floor, Santa Ana, CA 92707.

For more information call (800) 350-LEND or visit

About Latisys
Latisys is a leading national provider of colocation, managed hosting, managed services, disaster recovery and private cloud solutions to medium-sized businesses, enterprise customers and government agencies. With a heritage of serving business customers since 1994, and multiple high-density data centers across the United States, Latisys offers a scalable outsourced IT infrastructure platform that provides customers with what they need, when they need it. As a client-centric company -- with state of the art data centers in Ashburn, Virginia, Chicago, Denver and Irvine, California -- Latisys is quickly becoming the IaaS platform of choice for companies that demand more from their IT infrastructure partner. All while optimizing clients' return on investment. All while 'delivering more_'. Call 1-866-956-9594, visit or follow us on Twitter at for additional information.

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