MortgageServicingServicing Solutions

Cornerstone Capital Bank gets into subservicing

Company was formed following the merger of Cornerstone Home Lending and The Roscoe State Bank

Cornerstone Servicing, a division of recently formed Cornerstone Capital Bank, has launched a subservicing business, the company announced Monday.

“Our goal is to ensure every homeowner has the support they need to make informed decisions and manage their mortgage with ease,” Toby Wells, president of Cornerstone Servicing said in a statement. “With proactive engagement and intuitive technologies, our customizable subservicing solutions are uniquely designed to eliminate common pain points for homeowners, such as unreliable service, confusing escrow changes, and lack of clear and timely information regarding their mortgage.”

The Colorado-based company has created “an ideal homeowner experience to promote customer loyalty, healthy servicing portfolios, consistent cash flows, and sustainable growth for our clients — at a competitive cost of service,” he added.

Homeowners can log into the company’s secure web portal or mobile app to access a full view of their loan and 24/7 self-service options. An AI-powered virtual assistant offers help utilizing the portal, with secured messaging available from the Cornerstone customer support team.

Cornerstone Servicing’s client portal provides complete, real-time portfolio analytics and loan-level data to enable smart portfolio management. Custom views are available for loan officers, advisors, and servicer oversight, Cornerstone said.

Cornerstone Capital Bank was formed following a merger between a nonbank and a traditional depository. In August, Houston-based mortgage lender Cornerstone Home Lending announced that it had received all regulatory approvals to acquire traditional depository The Roscoe State Bank, a deal that will expand its operations beyond the traditional mortgage business. 

The deal created a financial institution with more than $380 million in capital and $1.5 billion in assets.

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