Seven government hires in 2024 embrace Dana Abernathy, who will develop the corporate’s servicing operations, and Mike Iorio, who’s tasked with rising homebuilder partnerships.
At Inman Join Las Vegas, July 30-Aug. 1 2024, the noise and misinformation can be banished, all of your massive questions can be answered, and new enterprise alternatives can be revealed. Be part of us.
Cornerstone Capital Financial institution has expanded its management crew to help bold plans to develop its mortgage mortgage servicing operations, make extra loans by means of homebuilders, and construct out its business actual property portfolio.
Shaped by means of the 2022 merger of Cornerstone Dwelling Lending and The Roscoe State Financial institution, Houston-based Cornerstone has made seven senior government hires this 12 months.
Scott Almy
“By investing in talented leaders to augment our existing top-tier teams, we are positioning Cornerstone for further growth and innovation across multiple lines of business,” Cornerstone President and CEO Scott Almy mentioned in a assertion.
TAKE THE INMAN INTEL INDEX SURVEY FOR JULY
Dana Abernathy
Dana Abernathy, who joined Cornerstone in February as vp of mortgage servicing enterprise improvement, has been tasked with increasing the corporate’s mortgage mortgage servicing operations. In her 35 years within the mortgage business, Abernathy has had management roles at Computershare Mortgage Companies, Nationwide MI and PMI Mortgage Insurance coverage Firm.
Cornerstone introduced in 2022 that it will convey its mortgage mortgage servicing in-house. Lenders that carry out their very own mortgage servicing have particulars about every borrower’s rate of interest and mortgage stability, positioning them to supply owners refinancing when alternatives come up or to finance a brand new house buy.
Mike Iorio
Mike Iorio, who joined Cornerstone in March as senior vp of strategic partnerships, is spearheading the nationwide enlargement of Cornerstone’s homebuilder partnership enterprise. In additional than 25 years within the banking and mortgage business, Iorio has held government roles at NewRez, Wells Fargo, CMG Monetary, Citywide Dwelling Loans and Stearns Lending
Patrick Ramsier
Patrick Ramsier joined Cornerstone this month as president, capital markets CRE, to assist the financial institution construct a business actual property portfolio. Throughout a profession in CRE spanning greater than three many years, Ramsier is credited with constructing on-book business actual property platforms at each LegacyTexas Financial institution and Southside Financial institution, the place he originated $7 billion in dedicated quantity and managed multi-billion-dollar portfolios.
“Cornerstone enters this market with virtually no current exposure to office, retail or multi-family CRE, and possesses the capital, liquidity, systems and talent to take advantage of evolving market conditions,” the corporate mentioned in saying Ramsier’s position.
The 4 different executives employed by Cornerstone this 12 months are:
- Noah Elrod, who joined Cornerstone in April to guide the corporate’s company treasury gross sales and advisory enterprise, which launches in This fall 2024.
- Cara Williams, who joined Cornerstone as chief compliance officer this month.
- Gina Darcy, who joined Cornerstone in March as managing director, challenge administration and danger reporting.
- Thu-Lynn “TL” Nguyen who joined Cornerstone in Could as vp of selling.
In celebrating the one-year anniversary of its formation final 12 months, Cornerstone mentioned it was on monitor to originate greater than $8 billion in mortgages and that its servicing operations would obtain report ranges of loans serviced.
The 2022 merger with Roscoe State Financial institution meant the corporate’s mortgage officers turned federal mortgage mortgage originators. In accordance with data maintained by the Nationwide Multistate Licensing System, Cornerstone Capital Financial institution employs 308 mortgage mortgage originators.
The corporate’s mortgage division does enterprise as Cornerstone Dwelling Lending, headed by CEO Adam Laird.
“With the backing of our fortress-like capital position, we’ve successfully launched or grown an industry-leading in-house mortgage loan servicing platform, new mortgage partnerships and mortgage portfolio programs, consumer digital deposits, and commercial lending,” Almy mentioned. “We’re excited to extend that growth into treasury sales and service later this year. We consider these achievements a great start toward realizing our unique opportunities and reaching our goal of serving more than one million families, businesses and institutions nationally.”
Get Inman’s Mortgage Temporary E-newsletter delivered proper to your inbox. A weekly roundup of all the most important information on the planet of mortgages and closings delivered each Wednesday. Click on right here to subscribe.
