Mark Kelbaugh serves as vice president of Special Loans at Cornerstone Servicing, where he oversees the operations supporting a range of non-conventional loan products including home equity lines of credit (HELOC), home equity investments (HEI), non-QM loans, residential transition loans (RTL) and business purpose loans (BPL). With over 30 years of experience in mortgage servicing, Kelbaugh plays a critical role in helping Cornerstone scale and adapt to the evolving needs of lenders and investors in today’s market.
Over the past year, Kelbaugh has led the buildout and refinement of operational processes that support high-volume, high-complexity portfolios. His work has helped streamline the onboarding of new clients, enabling flexible servicing models tailored to each product type and investor requirement. He has also contributed to the business development process, lending operational insight to client demos and implementation strategies.
Kelbaugh’s leadership has helped Cornerstone strengthen its compliance and reporting infrastructure for special loans while enhancing the borrower experience through improved communication, customer portal functionality and secure servicing practices. His contributions were instrumental in the firm’s designation by Fitch Ratings in July 2024 as a Primary Home Equity/Second Lien Specialty Servicer.
Known for his steady, detail-oriented leadership, Kelbaugh effectively balances risk management with service delivery. He works across teams to identify and address servicing pain points, particularly during transitional moments such as loan maturity or conversion. His operational depth and collaborative approach make him a central figure in Cornerstone’s growth and a valued leader in the non-agency servicing space.
Name:
Mark Kelbaugh
Title:
Vice President, Special Loans
Company Name:
Cornerstone Servicing
