Cornerstone Bank Mortgage Rates, Fees & Info
OVERLAND PARK, KSLEI: 254900QXGTL5RYZXK761
Tax ID: 43-1937586
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Mortgage Data
Review & Overview
Cornerstone Bank is a smaller bank specializing in Home Purchase and Refi loans. Cornerstone Bank has a high proportion of conventional loans. Their top markets by origination volume include: Kansas City, Denver, Nashville, and Columbia among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Cornerstone Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
63Origination Dollar Volume (All Markets)
$22,065,000Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 58 | $19,580,000 | $337,586 | $0 | 0.00% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 3 | $1,335,000 | $445,000 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $785,000 | $785,000 | $0 | 0.00% |
| COLUMBIA, MO (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 63 | $22,065,000 | $350,238 | $0 | 0.00% |
For 2018, Cornerstone Bank's most frequently originated type of loan was Conventional, with 63 originations.
Loan Reason
For 2018, Cornerstone Bank's most frequently cited loan purpose was Home Purchase, with 27 originations. The 2nd most popular reason was Refi, with 25 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 63 | $22,065,000 | $350,238 | $0 | 0.00% |
For 2018, Cornerstone Bank's most frequently cited loan duration was Other, with 63 originations.
Loan Sizing
2018 saw Cornerstone Bank place emphasis on $100,000 or less loans with 21 originations, totaling $1,395,000 in origination value.
Applicant Income
Cornerstone Bank lent most frequently to those with incomes in the $250k+ range, with 10 originations. The second most popular income band? $100k-150k, with 6 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 63 | $22,065,000 | $350,238 | $0 | 0.00% |
Cornerstone Bank lent most frequently to those with DTI ratios of Exempt%, with 63 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 36 | $12,900,000 | $358,333 | $0 | 0.00% |
| White | 27 | $9,165,000 | $339,444 | $0 | 0.00% |
Approval Rates
Total approvals of all applications92.50%
Cornerstone Bank has an average approval rate.
Pick Rate
Approvals leading to origination84.13%
Cornerstone Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 63 | $22,065,000 | $350,238 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 11 | $8,475,000 | $770,455 |
| Single Family (1-4 Units):Site-Built | 52 | $13,590,000 | $261,346 |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Cornerstone Home Lending Inc. | Conventional home mortgage | Closing on a mortgage | 2 | 12.5% |
| Cornerstone Home Lending Inc. | Conventional home mortgage | Struggling to pay mortgage | 1 | 6.3% |
| Cornerstone Home Lending Inc. | Conventional home mortgage | Trouble during payment process | 9 | 56.3% |
| Cornerstone Home Lending Inc. | FHA mortgage | Closing on a mortgage | 1 | 6.3% |
| Cornerstone Home Lending Inc. | FHA mortgage | Struggling to pay mortgage | 1 | 6.3% |
| Cornerstone Home Lending Inc. | FHA mortgage | Trouble during payment process | 2 | 12.5% |