For Immediate Release>>>>Fannie Mae Approval

A privately held St. Louis based mortgage banking firm has received approval as a Fannie Mae seller/ servicer.  The approval will allow Cornerstone Mortgage, Inc. to retain mortgage servicing rights, expand product offerings as well as sell and pool loans into mortgage backed securities.

Cornerstone Mortgage, Inc. founded in 1995 by Jim Dean, President/CEO and Angie Stevenson, Senior Vice President currently has 6 locations serving the St. Louis metropolitan area.  When asked how the approval will assist the company, Jim Dean responded “It will allow us to retain servicing when we choose to, realize pricing advantages over the competition, and become more independent from the larger lenders”.  He went on to comment, “This approval solidifies our position as an independent mortgage banker not reliant on any other company to originate, fund and service loans”.

With over 35 licensed Loan Officers serving the metro area Cornerstone Mortgage, Inc. originated in excess of $500 million in residential home loans during 2010.  The company was ranked the 5th fastest growing privately held firm by the St. Louis Business Journal and has been accredited by the Better Business Bureau since 1996 most recently achieving and A+ rating.