A California-based mortgage lender is buying Cornerstone Mortgage Inc., the St. Louis region’s second-largest mortgage lender.
San Diego-based Guild Mortgage, one of the nation’s largest independent mortgage lenders, has agreed to acquire Chesterfield-based Cornerstone. Terms of the deal weren’t disclosed.
Angi Stevenson, current president and CEO of Cornerstone, founded that company in 1996 with the late Jim Dean. Cornerstone had $840.62 million in total loan volume originated in 2016, according to Business Journal research. The company grew to loan volume of $1 billion in 2017, according to the company. Cornerstone has 19 branches and over 200 employees in Missouri, Illinois and Kansas.