SOUTHFIELD, Mich.--(BUSINESS WIRE)--Nov. 1, 2023--
Sterling Bank and Trust, F.S.B., the wholly owned subsidiary of Sterling Bancorp, Inc. (NASDAQ: SBT) today announced a partnership with Rocket Mortgage, America’s largest retail mortgage lender and a part of Rocket Companies (NYSE: RKT). The partnership will offer Sterling customers a fully digital home loan experience, providing homebuyers with a convenient and easy way to purchase or refinance a home.
Christine Meredith, Senior Executive Vice President and Chief Risk Officer, described the partnership as a strong option for Sterling’s customers who would like to become a homeowner or tap into their home’s equity. “Rocket Mortgage has earned more J.D. Power awards for client service than any other home lender. This gives us confidence that Rocket’s tech-driven and simplified mortgage experience is the best choice for Sterling customers and is a perfect fit with our ongoing mission to find opportunities that make banking easy for our customers.”
As a testament of the care Rocket Mortgage provides its clients, the lender has earned 21 total accolades from J.D. Power for client satisfaction, the most of any home lender – including 12 top rankings for mortgage origination. Rocket Mortgage upheld this high level of service while closing more loan volume than any other lender in 2022.
Through this partnership, Sterling customers will receive dedicated resources throughout the mortgage process as well as discounts on loan costs to make homeownership more accessible. This dynamic collaboration will enable Sterling to provide its customers market-leading home loan products and customer service with home financing solutions from Rocket Mortgage.
All loans offered through this new channel will be originated by Rocket Mortgage, and Sterling does not anticipate any such loans will be added to Sterling’s balance sheet in the near future. Any fees and the reimbursement of any costs to Sterling will not be material.
To learn more or get started with a home purchase or refinance, please visit www.sterlingbank.com or www.sbtadvantage.com.
About Sterling Bancorp, Inc.
Sterling Bancorp, Inc. is a unitary thrift holding company. Its wholly owned subsidiary, Sterling Bank and Trust, F.S.B., has primary branch operations in San Francisco and Los Angeles, California and New York City. Sterling offers a range of loan products to the residential and commercial markets, as well as retail and business banking services. Sterling also has an operations center and a branch in Southfield, Michigan. For additional information, please visit the Company’s website at http://www.sterlingbank.com.
About Rocket Mortgage
Detroit-based Rocket Mortgage is the top retail mortgage lender, closing more mortgage volume than any other lender in 2022, and is a part of Rocket Companies (NYSE: RKT). The lender enables the American Dream of homeownership and financial freedom through its obsession with an industry-leading, digital-driven client experience. In late 2015, it introduced the first fully digital, completely online mortgage experience. Since its founding in 1985, Rocket Mortgage has closed more than $1.6 trillion of mortgage volume across all 50 states.
Rocket Mortgage is ranked highest in the country for client satisfaction in mortgage origination and servicing by J.D. Power. Rocket Companies, Rocket Mortgage’s parent company, ranked #11 on Fortune’s list of the “100 Best Companies to Work For” in 2022 and has placed in the top third of the list for 20 consecutive years.
For more information and company news visit RocketCompanies.com/PressRoom.
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Sterling Bancorp, Inc.
Executive Vice President and Chief Financial Officer
Source: Sterling Bancorp, Inc.