Cornerstone Mortgage is a small but fast-growing mortgage provider with its headquarters in St. Louis, Missouri. The company was founded in 1995 by Jim Dean and Angi Stevenson. Jim Dean passed away in July 2015, and Angi Stevenson was the president and CEO as of May 2016. The firm employs a personalized, consultative approach to mortgage loans and debt servicing. It is highly accredited within the industry and has numerous accolades, including acknowledgement of its fast pace of growth in the mortgage industry. For the previous four years through 2015, the firm has been recognized by INC. 500/5000 as one of the fastest-growing mortgage companies in America. It has been growing its production rapidly with its most current annual servicing level at over $1 billion. The following information provides an overview of the company, its product offerings, rates and customer reviews.

What Cornerstone Mortgage Is

Cornerstone Mortgage is a licensed mortgage provider with service offerings in the states of Missouri, Illinois, California, Ohio, Kansas, North Dakota, Florida and Texas. The company has its headquarters in St. Louis, Missouri with 15 other offices located throughout the nation.

Through an experienced team of loan officers averaging over 15 years of industry experience, the firm provides highly consultative services and top industry solutions for its clients at a low cost compared to its competitors. The main reason the firm is able to provide superior servicing at lower costs is because of its direct processing, underwriting and administration of client loans all serviced within the company by its experienced specialists.

Mortgages Products Offered

Cornerstone Mortgage provides a broad array of loans and credit services to its clients. Affiliated with Freddie Mac (OTC: FMCC), Fannie Mae (OTC: FNMA) and Ginnie Mae (GNMA), the company offers loans backed by these government subsidies. These loans include conventional FNMA and FMCC loans, Federal Housing Administration (FHA) and Veterans Affairs (VA) home loans, and home affordable refinance program (HARP) loans.

The firm also offers jumbo and super jumbo loans, home equity lines and USDA loans. Specialty services provided by Cornerstone include loan refinancing, purchasing assistance and debt consolidation. Additionally, it is active in offerings of Missouri, Illinois and Kansas first-time homebuyer programs. and Cornerstone also offers Proloans. As an approved lender, Cornerstone is elite in its offering of Proloan financing, which has added provisions for protecting borrowers from interest rate increases.

Mortgage Rates

Cornerstone Mortgage does not publish mortgage rates by product but rather provides mortgage quotes on a consultative basis. The firm specializes in customized loan servicing and seeks to provide the best loan rates based on each individual client’s needs and circumstances. Mortgage quotes can be received through its website or by appointment with a mortgage servicing representative. Mortgage rates are commensurate with national averages reported by Freddie Mac, which as of May 19, 2016, were 3.58% for a 30-year fixed-rate mortgage (FRM); 2.81% for a 15-year FRM; and 2.8% for a five-year adjustable-rate mortgage (ARM).

What Consumers Are Saying

Cornerstone Mortgage is accredited with the Better Business Bureau, receiving an A+ rating. As a small mortgage service provider, the firm has limited online customer reviews. Most of its customer reviews can be found on Zillow and Yelp. On Zillow, Cornerstone Mortgage has four reviews for 4.75 out of 5 stars. On Yelp, Cornerstone Mortgage has reviews by location with an average star rating of one. The main concerns expressed by customers on Yelp regarded customer service issues. A customer who was denied a loan was unsatisfied with the communication provided by a customer service representative. An agent acting on behalf of a client was also unsatisfied with a customer service representative and the procedures followed in servicing a loan.

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