FOR IMMEDIATE RELEASE:
St. Louis, Missouri (July 23, 2012) Cornerstone Mortgage, Inc. a privately-held St. Louis based mortgage banking firm is proud to announce it has received approval as a direct Ginnie Mae Issuer/Servicer.
This distinction allows Cornerstone Mortgage to retain Ginnie Mae mortgage servicing rights, expand FHA, VA, and USDA product offerings, as well as sell and pool mortgages into mortgage-backed securities guaranteed by Ginnie Mae. Cornerstone Mortgage becomes one of only 350 Ginnie Mae Issuers nationwide and one of less than 12 approved issuers in the State of Missouri.
When asked how the approval will assist the company and its customers, Jim Dean, company President/CEO responded, “It will allow us to retain servicing when we choose, realize pricing and product advantages over the competition, and become completely independent of the large lenders.” He went on to comment, “This approval is a reflection of the standards we set, the quality of the infrastructure we have built, and the expertise of our entire team. It solidifies our position as a reputable and financially solid independent mortgage banker not reliant on any other company to originate, fund, or service loans. Our customers will now be able to enjoy our dedication to service for the life of their mortgage. It is truly an honor to be approved as a Ginnie Mae Issuer and we intend to use this approval to expand our prudent and fair lending in the FHA, VA, and USDA mortgage markets.”
About Cornerstone Mortgage, Inc.:
Cornerstone Mortgage, Inc. has been in operation since 1995 and was founded by Jim Dean (President/CEO) and Angi Stevenson (Senior Vice President/COO). Cornerstone Mortgage, Inc. is currently licensed in six (6) states and has over 165 employees, with 14 locations and is rapidly growing. Jim Dean (President/CEO) was named one of the 100 Most Influential Mortgage Executives in America by Mortgage Executive Magazine in 2013 and 2014. Cornerstone Mortgage, Inc. is an A+ accredited lender with the Better Business Bureau and continues to have an outstanding reputation. In 2013, Cornerstone Mortgage, Inc. became the #1 largest lender in Missouri to have approvals from all three agencies: Freddie Mac, Ginnie Mae, and Fannie Mae. Cornerstone Mortgage, Inc. was named a Top 100 Mortgage Company in America by Mortgage Executive Magazine. The company was listed as one of the top-producing mortgage lenders in the country by Scotsman Guide. Angi Stevenson (Senior Vice President/COO) and Cornerstone were featured in Forbes Magazine in 2013. Revenues at Cornerstone have grown to exceed $26 million dollars annually, with closed loan production surpassing $900 million annually. Cornerstone is a ProLoan approved lender. Cornerstone has been featured on the fastest growing privately-held companies in America list by INC. 500/5000 for four (4) years in a row. Regionally, the company has been the #1 fastest growing mortgage banker in Missouri for the last five (5) years and is currently the 17th fastest growing privately-held company in the St. Louis region. The company is currently the 2nd largest privately-held mortgage banker in Missouri. Cornerstone is also a Top 2 USDA lender in Missouri. Processing, underwriting, and closing are completed locally by Cornerstone.
For More Information, Contact:
Jim Dean, President
Cornerstone Mortgage, Inc.
17280 N Outer 40 Rd., Suite 100
Chesterfield, MO 63005