Cornerstone Capital Bank, a national provider of residential mortgage finance and loan servicing solutions and consumer, commercial, and institutional banking services, has launched two joint venture companies with homebuilders in Texas and North Carolina.
With the addition of Twin Tree Mortgage (Texas) and Liberty Ridge Lending (North Carolina), Cornerstone has now formed and managed joint venture mortgage companies for 15 homebuilders nationwide, according to a company press release.
The new companies were established to deliver faster loan approvals and a seamless mortgage experience for homebuyers while giving homebuilders greater certainty in closing homes on time, better control of their backlog, and a dedicated home financing and bank partner in Cornerstone.
“Cornerstone is known as the nation’s best partner for homebuilders,” Cornerstone Senior Vice President of Strategic Partnerships Mike Iorio said in the release. “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. 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.”
Twin Tree Mortgage, a joint venture with Elmwood Homes based in Waxahachie, Texas, was designed to offer tailored mortgage solutions for homebuyers throughout the greater Dallas market.
“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 added. “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, said, “I’m excited for this partnership and the benefits it brings to Elmwood Homes and its homebuyers. Twin Tree’s mortgage process is fully aligned with Elmwood’s homebuilding operations, eliminating delays and surprises and providing a better homebuying experience.”
Based in Fayetteville, North Carolina, Liberty Ridge Lending is a partnership with local homebuilders JSJ Builders and Ben Stout Construction. The company 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,” Cornerstone Atlantic Coast Regional Manager Chris Blount said in the release. “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.”