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In 2015, Sean Cahan made a pivotal decision to purchase Cornerstone First Mortgage, a modest operation with just one branch licensed in two states. Fast forward to today, Cornerstone Mortgage has grown exponentially, boasting over 60 branches across 48 states and nearing 350 loan officers. This incredible expansion is a testament to Sean Cahan’s visionary leadership and commitment to excellence in the mortgage industry. Sean’s unique position as both the owner and an active loan officer — having originated over $100 million last year — is a testament to his dedication and a driving force behind the company’s remarkable success. This dual role is particularly rare in the mortgage industry, especially for a company of Cornerstone’s size.
Thriving amid industry challenges
In an industry that has faced significant challenges over the past few years, Sean’s hands-on approach and strategic foresight have enabled Cornerstone to defy the odds. The mortgage sector has been grappling with higher interest rates and tightening monetary policies, which have created a challenging environment for many lenders. As a result, numerous competitors have struggled to maintain their loan officer counts and production levels. However, Cornerstone has not only weathered these storms but has thrived. The company’s loan officer count doubled last year and is on track to do so again this year. On June 10, Cornerstone hit a milestone of 300 loan officers, with 104 new additions this year alone. This rapid growth in personnel is matched by a 105% increase in production from January to May 2024, reflecting the company’s robust expansion and operational efficiency.
Key factors driving growth
Several key factors contribute to Cornerstone Mortgage’s remarkable growth, even as many competitors struggle. One significant element is the company’s niche products, such as non-qualified mortgages (non-QM), which are underwritten in-house with multiple investors. This product diversity has attracted a wide range of clients and loan officers seeking innovative solutions. Additionally, Sean’s leadership style, which combines strategic oversight with active involvement in loan origination, has been instrumental. His deep understanding of the market and unwavering commitment to the company’s success have created a culture of excellence and agility. Unlike many competitors with less engaged leadership teams and cumbersome management layers, Cornerstone’s lean and responsive structure has enabled it to attract top talent from across the country.
Commitment to operational excellence
Cornerstone Mortgage’s commitment to operational excellence is another critical driver of its growth. The company has consistently hired operational staff to keep pace with the increasing volume, ensuring efficient turnaround times and superior service quality. This dedication to maintaining high operational standards has made Cornerstone an attractive destination for loan officers dissatisfied with the uninvolved leadership and bureaucratic management at other firms. Furthermore, the development of new technology and marketing practices has played a crucial role in Cornerstone’s success. The company has invested in cutting-edge tech solutions and innovative marketing strategies, enabling it to stay ahead in a competitive market. These advancements not only streamline operations but also enhance the overall client and loan officer experience.
Looking ahead, Cornerstone Mortgage is well-positioned to continue its impressive growth trajectory. With a goal of reaching 400 loan officers by the end of the year and a production target of $1.8 billion, the company is poised to set new industry standards. For those interested in joining a dynamic and rapidly growing company, Cornerstone First Mortgage offers numerous career opportunities. Explore more about the available positions and the company’s unique culture at Cornerstone First Mortgage Careers. Under Sean Cahan’s visionary leadership, Cornerstone First Mortgage has transformed from a single-branch operation into a national powerhouse. With a relentless focus on growth, innovation, and operational excellence, Cornerstone is well on its way to achieving its ambitious goals and setting new benchmarks in the mortgage industry.
