Houston-based Cornerstone Home Lending, a division of Cornerstone Capital Bank, announced that Neil Merritt has been hired as its new senior vice president of product strategy & development. In his role, Merritt will identify and introduce new mortgage loan products and loan investor opportunities.
Merritt has a 21-year career in the mortgage industry, which includes over a decade focused on loan product development and product strategies. Further, he has been responsible for the development and release of hundreds of new loan products, resulting in billions of dollars of additional loan sales volume for the loan originators he previously served.
Adam Laird, CEO of Cornerstone Home Lending, said, "We constantly focus on investing in additional ways to support the growth of our loan originators and the success of our business partners. With his proven track record, Neil will be instrumental in propelling Cornerstone to a market-leading position in sourcing new investors and expanding our large portfolio of loan products. We look forward to supporting Neil's success and providing Cornerstone's sales teams with more opportunities to cater to the diverse needs of our clients."
Merritt said, "I'm drawn to Cornerstone for its outstanding culture. Over the past 35 years, Cornerstone has built a reputation of excellence in the market, and it's exciting to join a dynamic, multi-faceted financial services company with so many resources at its disposal. I look forward to creating additional investor relationships and mortgage loan products and services, all while supporting the continued success of Cornerstone's industry-leading loan originators."
According to his LinkedIn profile, Merritt was head of product strategy and development at NewRez for 28 months, leaving in October. He was senior vice president of product development at Stearns Lending for almost four years during more than five years with the lender.
