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.
Forward-Looking Statements
This Press Release contains certain statements that are, or may
be deemed to be, “forward-looking statements” regarding the
Company’s plans, expectations, thoughts, beliefs, estimates, goals
and outlook for the future. These forward-looking statements
reflect our current views with respect to, among other things,
future events and our financial performance, including any
statements that refer to projections, forecasts or other
characterizations of future events or circumstances, including any
underlying assumptions. These statements are often, but not always,
made through the use of words or phrases such as “may,” “might,”
“should,” “could,” “believe,” “expect,” “continue,” “will,” “seek,”
“intend,” “plan,” “goal” and “would,” or the negative versions of
those words or other comparable words or phrases of a future or
forward-looking nature, though the absence of these words does not
mean a statement is not forward-looking. All statements other than
statements of historical facts, including but not limited to
statements regarding, the economy and financial markets, government
investigations, credit quality, the regulatory scheme governing our
industry, competition in our industry, interest rates, our
liquidity, our business and our governance, are forward-looking
statements. We have based the forward-looking statements in this
Press Release primarily on our current expectations and projections
about future events and trends that we believe may affect our
business, financial condition, results of operations, prospects,
business strategy and financial needs. These forward-looking
statements are not historical facts, and they are based on current
expectations, estimates and projections about our industry,
management's beliefs and certain assumptions made by management,
many of which, by their nature, are inherently uncertain and beyond
our control. There can be no assurance that future developments
will be those that have been anticipated. We may not actually
achieve the plans, intentions or expectations disclosed in our
forward-looking statements. Our statements should not be read to
indicate that we have conducted an exhaustive inquiry into, or
review of, all potentially available relevant information.
Accordingly, we caution you that any such forward-looking
statements are not guarantees of future performance and are subject
to risks, assumptions, estimates and uncertainties that are
difficult to predict. The risks, uncertainties and other factors
detailed from time to time in our public filings, including those
included in the disclosures under the headings “Cautionary Note
Regarding Forward-Looking Statements” in our Quarterly Report on
Form 10-Q filed with the Securities and Exchange Commission on
August 9, 2023 and “Risk Factors” in our Annual Report on Form 10-K
filed with the Securities and Exchange Commission on March 16,
2023, subsequent periodic reports and future periodic reports,
could affect future results and events, causing those results and
events to differ materially from those views expressed or implied
in the Company’s forward-looking statements. These risks are not
exhaustive. Other sections of this Press Release and our filings
with the Securities and Exchange Commission include additional
factors that could adversely impact our business and financial
performance. Moreover, we operate in very competitive and rapidly
changing environment. New risks and uncertainties emerge from time
to time, and it is not possible for us to predict all risks and
uncertainties that could have an impact on the forward-looking
statements contained in this Press Release. Should one or more of
the foregoing risks materialize, or should underlying assumptions
prove incorrect, actual results or outcomes may vary materially
from those projected in, or implied by, such forward-looking
statements. Accordingly, you should not place undue reliance on any
such forward-looking statements. The Company disclaims any
obligation to update, revise, or correct any forward-looking
statements based on the occurrence of future events, the receipt of
new information or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20231101096387/en/
Sterling Bancorp, Inc. Karen Knott Executive Vice President and
Chief Financial Officer (248) 359-6624
kzaborney@sterlingbank.com
Sterling Bancorp (NASDAQ:SBT)
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