Cornerstone Capital Bank on Tuesday announced the launch of two joint ventures with homebuilders in Texas and North Carolina.
Cornerstone, a national provider of residential mortgage finance and loan servicing solutions, is now managing joint venture mortgage companies for 15 homebuilders across the country — including this week’s addition of Twin Tree Mortgage in Texas and Liberty Ridge Lending in North Carolina.
The new companies are designed to deliver faster loan approvals for homebuyers while giving homebuilders greater certainty in closing on time, better control of their backlogs and a dedicated home financing partner in Cornerstone.
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 area.
“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,” Elmwood Homes co-owner Ed Merkel said in a statement. “This joint venture with Cornerstone has transformed home financing from a potential obstacle into a value-add for our business.”
Mike Newton, president of Cornerstone’s builder division, shared his excitement about the partnership.
“Twin Tree’s mortgage process is fully aligned with Elmwood’s homebuilding operations, eliminating delays and surprises and providing a better homebuying experience,” he added.
In Fayetteville, North Carolina, Liberty Ridge Lending has a partnership with local homebuilders JSJ Builders and Ben Stout Construction. It serves homebuyers across Fayetteville and the surrounding Raleigh suburbs with a strong focus on assisting military families near Fort Bragg.
“Our partnership in Liberty Ridge Lending demonstrates our shared commitment to make homeownership more accessible and provide seamless financing solutions for buyers,” said Chris Blount, regional manager of the Atlantic Coast region at Cornerstone.
“Facilitating this collaboration has been an exciting journey, and I look forward to the positive impact this partnership with JSJ Builders and Ben Stout Construction will have on our community.”
Mike Iorio, senior vice president of strategic partnerships at Cornerstone, touted the bank’s reputation as a reliable homebuilder partner.
“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,” Iorio said.
“We provide tailored solutions to help builders navigate successfully through market-specific challenges. 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.”
