Cornerstone Home Lending launches in-house mortgage servicing unit

Lender follows in loanDepot's footsteps

Cornerstone Home Lending launches in-house mortgage servicing unit

Cornerstone Home Lending is moving its mortgage loan servicing operations in-house, a tactic similarly adopted by loanDepot earlier this year.

Cornerstone, a mid-sized nonbank lender, has launched an in-house servicing system for new loan originations. The company employed Black Knight’s servicing technology platform and built a team of servicing professionals led by Toby Wells, managing director of loan servicing.

“Cornerstone’s robust servicing platform supports and streamlines all facets of Cornerstone’s loan servicing operations from loan boarding to payoff, enabling our team members to focus on what matters most: a remarkable customer experience,” Wells said. “Cornerstone’s dedicated loan servicing team will continuously elevate every aspect of the loan servicing process to raise the bar for customer satisfaction.”

Read next: loanDepot bolsters in-house loan servicing capacity

In the coming months, Cornerstone will transition its existing mortgage loan servicing portfolio to its in-house system, which also includes a loan servicing website and mobile app for customers. The lender said it will continue to roll out new loan servicing features and options for customers as it expands its in-house servicing operations.

“Providing a remarkable customer experience remains one of Cornerstone’s key core convictions since our founding 34 years ago, and we are excited to offer our mortgage loan servicing customers the same standard of excellence that has long defined Cornerstone’s loan origination operations,” said Cornerstone president Adam Laird. “Fulfilling our corporate responsibility to provide a remarkable customer experience in the mortgage servicing function requires Cornerstone to take full ownership and daily control of the entire servicing process. Cornerstone customers will remain in the superior care of Cornerstone team members during the loan origination and closing process, and now through the entire life of their loan.”