Cornerstone Mortgage, Inc a privately held St. Louis based mortgage banking firm has been approved for participation as an FHA Direct Endorsement Lender.  Commonly referred to as “Full Eagle” in the lending industry, the Direct Endorsement status allows Cornerstone to underwrite and approve FHA loans in house with it’s own staff of DE underwriters.  Previously Cornerstone relied upon outside sponsorship through correspondent relationships for FHA underwriting services. 

Cornerstone Mortgage, Inc. has a proven track record in retail mortgage originations since it’s founding in 1995 by Jim Dean and his business partner Angi Stevenson.  Recently Cornerstone Mortgage, Inc. was ranked as one of the top 10 mortgage originators in the St. Louis market place in addition to the Missouri Housing Development Commission ranking as a “Top 10 Producing Lender”.

When asked what advantages this status provides Jim Dean responded “Our customers can count on improved rates and superior customer service now that all underwriting is performed in house.  We have now tripled our investor pool than previously offered which allows us greater flexibility than our competition.  This will not only help our current loan professionals but assist us in our ongoing recruiting efforts.”

In addition to improved product selection and pricing from their correspondent relationships and faster, more consistent approval timeframes, the FHA Direct Endorsement status allows Cornerstone Mortgage, Inc to further pursue third party origination efforts.  As a full DE lender Cornerstone can now act as a sponsor to banks, credit unions and mortgage brokers who wish to originate FHA insured loans in addition to conventional loan products.  The improved production platform provides significant economies of scale while at the same time delivering reliable processing, underwriting, closing, and funding services all performed locally.

Frank Ruzicka

Vice President of Wholesale Lending

11255 Olive Blvd.

St. Louis, MO 63141

(314) 995-9919