Seven govt hires in 2024 embrace Dana Abernathy, who will broaden the corporate’s servicing operations, and Mike Iorio, who’s tasked with rising homebuilder partnerships.
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Cornerstone Capital Financial institution has expanded its management workforce to assist bold plans to develop its mortgage mortgage servicing operations, make extra loans by way of homebuilders, and construct out its business actual property portfolio.
Fashioned by way of the 2022 merger of Cornerstone House Lending and The Roscoe State Financial institution, Houston-based Cornerstone has made seven senior govt hires this yr.
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.
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Dana Abernathy
Dana Abernathy, who joined Cornerstone in February as vice chairman of mortgage servicing enterprise growth, 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 might carry 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 householders refinancing when alternatives come up or to finance a brand new house buy.
Mike Iorio
Mike Iorio, who joined Cornerstone in March as senior vice chairman 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 govt roles at NewRez, Wells Fargo, CMG Monetary, Citywide House 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 yr are:
- Noah Elrod, who joined Cornerstone in April to steer the corporate’s company treasury gross sales and advisory enterprise, which launches in This autumn 2024.
- Cara Williams, who joined Cornerstone as chief compliance officer this month.
- Gina Darcy, who joined Cornerstone in March as managing director, mission administration and threat reporting.
- Thu-Lynn “TL” Nguyen who joined Cornerstone in Could as vice chairman of selling.
In celebrating the one-year anniversary of its formation final yr, Cornerstone mentioned it was on observe 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 grew to become federal mortgage mortgage originators. In keeping 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 House 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.”
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