Cornerstone Capital Bank, a national provider of residential mortgage finance and loan servicing solutions and consumer, commercial and institutional banking services, has launched two joint venture companies with homebuilders in Texas and North Carolina.
With the addition of Twin Tree Mortgage (Texas) and Liberty Ridge Lending (North Carolina), Cornerstone has now formed and managed joint venture mortgage companies for 15 homebuilders nationwide.
These new companies deliver faster loan approvals and a seamless mortgage experience for homebuyers while giving homebuilders greater certainty in closing homes on time, better control of their backlog, and a dedicated home financing and bank partner in Cornerstone, the company says in a release.
By integrating into the home purchase process, Cornerstone serves as a high-quality extension of the homebuilder’s brand.
“Cornerstone is known as the nation’s best partner for homebuilders,” says Mike Iorio, senior vice president of strategic partnerships at Cornerstone, in the release. “Through our suite of builder solutions—encompassing preferred lending relationships, bona fide independent joint venture mortgage companies, and advisory services for mortgage, loan servicing, and insurance, Cornerstone leverages intimate community knowledge and local relationships.”
“We provide tailored solutions to help builders navigate successfully through market-specific challenges,” Iorio says. “Additionally, our experts have access to unique bank portfolio and affordable lending programs that help more deserving homebuyers qualify for mortgages, which ultimately assists our builder partners in selling more homes.”
Twin Tree Mortgage, based in Waxahachie, Texas, is a joint venture with Elmwood Homes that provides tailored mortgage solutions for homebuyers throughout the greater Dallas market.
“With Twin Tree Mortgage, we now have a lending partner that fully understands how we do business and can customize the process to fit our needs,” says Ed Merkel, co-owner, Elmwood Homes. “This joint venture with Cornerstone has transformed home financing from a potential obstacle into a value-add for our business.”