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FOR IMMEDIATE RELEASE:

St. Louis, MO (March 6, 2014) – Cornerstone Mortgage, Inc., a privately-held St. Louis based mortgage-banking firm, is pleased to announce they have merged with Mortgage Resources Incorporated.Cornerstone Mortgage, Inc.’s new MRI Group branch office is located at 425 South Woods Mill Road, Suite 160 in Chesterfield, Missouri.

Mortgage Resources was owned and managed by Bob Obermeier and Steve Carrico for more than 24 years. Mr. Carrico and Mr. Obermeier are highly respected mortgage professionals and veterans of the mortgage industry. They both have over 25 years of experience in origination and oversaw $6 billion in loan closings while owning/managing Mortgage Resources.In 2012, Mortgage Resources had loan closings in excess of $220 million and was the 17th largest lender in the St. Louis region. The company was the largest lender in St. Louis for multiple years.

When asked about the merger, Jim Dean, President/CEO, stated, “I believe our 2013-2014 numbers will place Cornerstone Mortgage, Inc. as the 2nd largest lender in the region as well as in the State of Missouri. I am very confident that the addition of Mortgage Resources will allow us to be more competitive and ultimately strengthen our company as a whole. We are pleased with their confidence in Cornerstone and we are proud to have them as a part of our team.”

Kerry Rudin, Mortgage Resources’ top originator, went on to say, “The combination of Cornerstone and Mortgage Resources creates an exciting opportunity for our clients. We believe Cornerstone’s financial strength, technology, and innovative mix of loan products will let us provide even more competitive rates and lower fees.”

Mortgage Resources brings a group of exceptional, top-producing loan officers and a strong support staff to Cornerstone Mortgage, Inc.Kerry Rudin, Erik Rudin, Matt Obermeier, Mark Carrico, Julie Sun, Greg Jost, Jimmy Holmes, and Ray Purschke have joined the origination team. Processors, Melinda Goggin, Kelly Ramsey, and Lisa Lyons will continue working at the MRI Group branch location. Nancy Kilman and Peggy Purdy are now part of the closing department at Cornerstone Mortgage, Inc.’s main office in Chesterfield.

About Cornerstone Mortgage, Inc.:
Cornerstone Mortgage, Inc. has been in operation since 1995 and was founded by Jim Dean (President/CEO) and Angi Stevenson (Senior Vice President/COO). Cornerstone Mortgage, Inc. is currently licensed in six (6) states and has over 165 employees, with 14 locations and is rapidly growing. Jim Dean (President/CEO) was named one of the 100 Most Influential Mortgage Executives in America by Mortgage Executive Magazine in 2013 and 2014. Cornerstone Mortgage, Inc. is an A+ accredited lender with the Better Business Bureau and continues to have an outstanding reputation. In 2013, Cornerstone Mortgage, Inc. became the #1 largest lender in Missouri to have approvals from all three agencies: Freddie Mac, Ginnie Mae, and Fannie Mae. Cornerstone Mortgage, Inc. was named a Top 100 Mortgage Company in America by Mortgage Executive Magazine. The company was listed as one of the top-producing mortgage lenders in the country by Scotsman Guide. Angi Stevenson (Senior Vice President/COO) and Cornerstone were featured in Forbes Magazine in 2013. Revenues at Cornerstone have grown to exceed $26 million dollars annually, with closed loan production surpassing $900 million annually. Cornerstone is a ProLoan approved lender. Cornerstone has been featured on the fastest growing privately-held companies in America list by INC. 500/5000 for four (4) years in a row. Regionally, the company has been the #1 fastest growing mortgage banker in Missouri for the last five (5) years and is currently the 17th fastest growing privately-held company in the St. Louis region. The company is currently the 2nd largest privately-held mortgage banker in Missouri. Cornerstone is also a Top 2 USDA lender in Missouri. Processing, underwriting, and closing are completed locally by Cornerstone.

For More Information, Contact:
Jim Dean, President
Cornerstone Mortgage, Inc.
17280 N Outer 40 Rd., Suite 100
Chesterfield, MO 63005
(314) 995-9919

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