Cornerstone Mortgage Partners Of Texas L.p. Rates, Fees & Info

HOUSTON, TX

LEI: 549300ESJ15K604ZW846

Tax ID: 20-5113139

1.7 stars - out of 5 stars, based on 30 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Cornerstone Mortgage Partners Of Texas L.p. is a smaller mortgage company specializing in Home Purchase loans. Cornerstone Mortgage Partners Of Texas L.p. has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include Houston, Austin, Dallas, San Antonio, and Corpus Christi among others. Cornerstone Mortgage Partners Of Texas L.p. has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Cornerstone Mortgage Partners Of Texas L.p. is typically a high fee lendor.


Originations

913

Origination Dollar Volume (All Markets)

$344,255,000

Relative Rate

Cornerstone Mortgage Partners Of Texas L.p.'s average 30 year fixed rate mortgage of loans were 3.11%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.04%.

Relative Fees

Cornerstone Mortgage Partners Of Texas L.p.'s average total fees for a 30 year fixed rate mortgage are $8,131.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 453 $170,045,000 $375,375 $8,291 3.10%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 182 $72,900,000 $400,549 $7,913 3.09%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 178 $72,720,000 $408,539 $8,342 3.04%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 97 $27,855,000 $287,165 $5,931 2.79%
CORPUS CHRISTI, TX (FHA|USDA|VA) 1 $375,000 $375,000 $0 3.63%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $235,000 $235,000 $8,279 3.25%
LAREDO, TX (FHA|USDA|VA) 1 $125,000 $125,000 $3,527 3.00%

Cornerstone Mortgage Partners Of Texas L.p.'s top markets include Houston, Austin, Dallas, San Antonio, and Corpus Christi among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 734 $273,980,000 $373,270 $7,610 3.03%
VA 98 $46,080,000 $470,204 $8,176 3.02%
FHA 81 $24,195,000 $298,704 $10,896 3.31%

For the 2021 period, Cornerstone Mortgage Partners Of Texas L.p.'s most frequently originated loan type of loans were Conventional, with 734 originations. Their 2nd most popular type is VA, with 98 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 895 $338,275,000 $377,961 $8,016 3.05%
Refi 9 $2,935,000 $326,111 $4,736 3.01%
Cash Out Refi 9 $3,045,000 $338,333 $6,249 3.57%

For the 2021, Cornerstone Mortgage Partners Of Texas L.p.'s most frequently cited loan purpose of loans were Home Purchase, with 895 originations. The 2nd most popular reason of loans were Refi, with 9 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 833 $319,545,000 $383,607 $8,131 3.11%
15 Year 67 $21,315,000 $318,134 $6,438 2.54%
20 Year 9 $3,355,000 $372,778 $7,248 2.83%
3 Year 4 $40,000 $10,000 $0 0.00%

For the 2021, Cornerstone Mortgage Partners Of Texas L.p.'s most frequently cited loan length of loans were 30 Year, with 833 originations. The 2nd most popular length of loans were 15 Year, with 67 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 335 $123,705,000 $369,269
$5k+ 224 $98,330,000 $438,973
$3k-4k 157 $55,885,000 $355,955
$<1k 94 $31,890,000 $339,255
$2k-3k 86 $30,040,000 $349,302

$8,131 of loans were Cornerstone Mortgage Partners Of Texas L.p.'s average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 335 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 507 $193,425,000 $381,509
2.5-3% 323 $124,015,000 $383,947
<2.5% 77 $24,975,000 $324,351
4-5% 6 $1,840,000 $306,667

During 2021, Cornerstone Mortgage Partners Of Texas L.p.'s average interest rate of loans were 3.11%, while their most frequently originated rate bucket of loans were 3-4%, with 507 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 472 $149,050,000 $315,784 $7,608 3.10%
$400k-600k 350 $167,170,000 $477,629 $8,588 3.08%
$100k-200k 45 $7,155,000 $159,000 $4,521 3.12%
$600k-1MM 31 $20,645,000 $665,968 $14,665 3.14%
$100,000 or less 15 $235,000 $15,667 $416 0.37%

2021 saw Cornerstone Mortgage Partners Of Texas L.p. place emphasis on $200k-400k loans with 472 originations, totaling $149,050,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 315 $118,685,000 $376,778 $7,980 3.11%
$150k-250k 290 $124,960,000 $430,897 $8,533 3.08%
$75k-100k 125 $39,605,000 $316,840 $7,148 3.08%
$50k-75k 82 $21,760,000 $265,366 $7,119 2.93%
$250k+ 74 $34,930,000 $472,027 $9,416 3.07%
$50k or less 27 $4,315,000 $159,815 $4,699 2.37%

Cornerstone Mortgage Partners Of Texas L.p. lent most frequently to those with incomes in the $100k-150k range, with 315 originations. The second most popular income band? $150k-250k, with 290 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 185 $69,715,000 $376,838 $7,823 3.04%
30-36% 185 $72,645,000 $392,676 $8,403 3.05%
44% 45 $17,765,000 $394,778 $7,165 3.18%
50-60% 43 $17,335,000 $403,140 $9,831 3.16%
43% 40 $13,140,000 $328,500 $6,247 2.95%
37% 39 $14,805,000 $379,615 $7,534 3.18%
45% 38 $13,710,000 $360,789 $7,605 3.09%
49% 35 $12,135,000 $346,714 $7,625 2.95%
39% 34 $14,520,000 $427,059 $7,805 3.12%
48% 34 $12,580,000 $370,000 $8,831 3.13%
41% 33 $12,755,000 $386,515 $8,699 3.05%
42% 33 $11,685,000 $354,091 $8,059 2.88%
40% 31 $11,475,000 $370,161 $7,821 2.96%
<20% 30 $9,930,000 $331,000 $6,718 3.01%
36% 30 $10,410,000 $347,000 $7,630 3.07%
38% 27 $10,575,000 $391,667 $7,301 2.94%
46% 24 $9,520,000 $396,667 $7,579 3.22%
47% 23 $7,895,000 $343,261 $9,490 3.03%
>60% 4 $1,660,000 $415,000 $10,659 3.16%

Cornerstone Mortgage Partners Of Texas L.p. lent most frequently to those with DTI ratios of 20-30%, with 185 originations. The next most common DTI ratio? 30-36%, with 185 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 458 $169,930,000 $371,026 $7,929 3.04%
Not provided 149 $54,575,000 $366,275 $7,799 3.05%
Black 127 $52,575,000 $413,976 $8,020 3.15%
Asian 100 $39,280,000 $392,800 $7,965 3.02%
Asian Indian 28 $10,920,000 $390,000 $8,989 2.97%
American Indian 26 $9,290,000 $357,308 $7,474 3.21%
Other Asian 9 $2,745,000 $305,000 $10,445 2.92%
Chinese 3 $1,055,000 $351,667 $6,533 2.79%
Filipino 3 $975,000 $325,000 $10,265 2.92%
Vietnamese 3 $975,000 $325,000 $8,581 2.83%
Other Pacific Islander 3 $955,000 $318,333 $11,336 3.25%
Native Hawaiian 3 $625,000 $208,333 $5,564 2.08%
Japanese 1 $355,000 $355,000 $7,427 3.00%

Approval Rates

Total approvals of all applications
95.00%

Cornerstone Mortgage Partners Of Texas L.p. has an average approval rate.

Pick Rate

Approvals leading to origination
66.24%

Cornerstone Mortgage Partners Of Texas L.p. has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points Originations Total Value Average Loan
NA 913 $344,255,000 $377,059

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
913 $344,255,000 $377,059

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 18 $3,670,000 $203,889 $4,057 2.86%
40-60% 48 $12,500,000 $260,417 $6,917 2.89%
60-80% 274 $106,260,000 $387,810 $8,383 3.06%
80-100% 540 $213,570,000 $395,500 $7,894 3.14%
Over 100% 17 $7,895,000 $464,412 $17,999 3.13%
Under 20% 16 $360,000 $22,500 $635 0.55%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
CORNERSTONE MORTGAGE, INC. Conventional home mortgage Struggling to pay mortgage 1 100.0%