Guild Mortgage, headquartered in San Diego, has announced the acquisition of St. Louis-based Cornerstone Mortgage Inc., which has 19 branches and more than 200 employees in Missouri, Illinois and Kansas and loan volume of $1 billion.
“Cornerstone is an exceptional company and a close culture match to Guild with its strong values and experienced loan professionals averaging more than 15 years in the business,” said Mary Ann McGarry, president and CEO of Guild Mortgage
. “It has been the fastest growing mortgage banker in Missouri for six straight years and ranked as a Top 25 place to work in local surveys during the same period. We have been admiring their organization for several years and are pleased to enter 2018 with such a strong new presence in the Midwest.”
Angi Stevenson, president and CEO of Cornerstone, will join Guild as regional vice president of its newly established Midwest Region. The financial terms of the transaction were not disclosed.