Cornerstone Bank Mortgage Rates, Fees & Info

OVERLAND PARK, KS

LEI: 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

63

Origination Dollar Volume (All Markets)

$22,065,000

Top 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%
Cornerstone Bank's top markets include Kansas City, Denver, Nashville, and Columbia among others.

Their top states include:
  • Missouri (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • 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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 27 $14,675,000 $543,519 $0 0.00%
    Refi 25 $5,095,000 $203,800 $0 0.00%
    Cash Out Refi 10 $2,110,000 $211,000 $0 0.00%
    Home Improvement 1 $185,000 $185,000 $0 0.00%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 21 $1,395,000 $66,429 $0 0.00%
    $200k-400k 15 $4,585,000 $305,667 $0 0.00%
    $100k-200k 13 $2,005,000 $154,231 $0 0.00%
    $400k-600k 8 $3,710,000 $463,750 $0 0.00%
    $1MM+ 3 $7,975,000 $2,658,333 $0 0.00%
    $600k-1MM 3 $2,395,000 $798,333 $0 0.00%

    2018 saw Cornerstone Bank place emphasis on $100,000 or less loans with 21 originations, totaling $1,395,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 10 $4,680,000 $468,000 $0 0.00%
    $100k-150k 6 $2,320,000 $386,667 $0 0.00%
    $50k or less 4 $580,000 $145,000 $0 0.00%
    $150k-250k 3 $1,075,000 $358,333 $0 0.00%
    $50k-75k 2 $160,000 $80,000 $0 0.00%
    $75k-100k 1 $185,000 $185,000 $0 0.00%

    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 applications
    92.50%

    Cornerstone Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.13%

    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%