PlainLender

Cornerstone Bank

Fargo, ND

Cornerstone Bank processed 168 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 149 loans with a 4.2% denial rate. Refinancing was the primary loan purpose. Based in Fargo, ND. The approval rate of 88.7% reflects originated loans as a share of all applications. Below you will find a breakdown by loan type, loan purpose, denial reasons, and demographic lending patterns as required by the Home Mortgage Disclosure Act.

Portfolio scale. Cornerstone Bank processed 168 HMDA-reported mortgage applications in 2024, originating 149 loans and denying 7 for a denial rate of 4.2% (applicants themselves withdrew 3 files before a decision). The average loan amount was $592,143 at a 7.464% average note rate, and applicants self-reported an average income of $34,000. The lender reports under LEI 5493003LIT6MPMIF5W07 from Fargo, ND.

Why approval and denial rates diverge. Approval (origination) rate and denial rate do not sum to 100% — HMDA records several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Cornerstone Bank's 88.7% origination rate tells you how often an application turned into funded money; the 4.2% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Credit history, which together explain the majority of rejections. Most activity concentrated in Conventional loans (168 applications).

How to read this page. These figures are aggregate HMDA disclosures — they describe this lender's overall 2024 book, not your individual odds. Approval and denial rates are shaped by the applicant mix a lender actually receives: credit profile, loan-to-value, debt-to-income, property type, and geography. A lower denial rate at one lender versus another does not necessarily mean easier underwriting — it often reflects borrower self-selection and loan-product specialization. This page is informational data reporting, not financial, legal, or mortgage advice. Compare multiple lenders, read your Loan Estimate carefully, and consult a licensed mortgage professional before applying. Data reflects 2024 disclosures published by the CFPB in 2025.

168
Applications
149
Originated
4.2%
Denial Rate
$592,143
Avg Loan Amount
Avg Interest Rate: 7.464% Avg Applicant Income: $34,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 168 149 7 $592,143

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for Cornerstone Bank (LEI: 5493003LIT6MPMIF5W07) · 2023 HMDA reports filed annually; covers applications received during the calendar year. Approval rates exclude withdrawn / incomplete applications. Denial reasons are lender-reported.

Denial Analysis

Debt-to-income ratio
4
Credit history
3

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Refinancing 68 59 $251,618
Home Purchase 66 63 $1,183,333
Other 24 18 $99,167
Home Improvement 10 9 $189,000

Geographic Coverage — Lending by Race

Derived race categories as reported under HMDA. Source: CFPB.

Race Applications Approval Rate Denial Rate
White 105 83.8% 5.7%
American Indian or Alaska Native 4 75.0% 25.0%
Joint 1 100.0% 0.0%

Lending by Ethnicity

Hispanic/Latino is an ethnicity, not a race. Shown separately per U.S. Census Bureau standards.

Ethnicity Applications Approval Rate Denial Rate
Not Hispanic or Latino 108 83.3% 6.5%
Hispanic or Latino 3 66.7% 0.0%

Nearby Lenders in ND

Other HMDA-reporting lenders in ND with similar activity. Compare any two side-by-side.

Bell Bank

Fargo, ND

13,496 apps 10,872 originated 5.8% denied

Gate City Bank

Fargo, ND

4,682 apps 3,056 originated 10.3% denied

ALERUS FINANCIAL NA

GRAND FORKS, ND

2,632 apps 2,038 originated 6.6% denied

First International Bank & Trust

Minot, ND

1,791 apps 1,437 originated 6.6% denied

FIRST COMMUNITY CREDIT UNION

JAMESTOWN, ND

1,333 apps 512 originated 18.4% denied
Compare Cornerstone Bank vs Bell Bank →

Mortgage Lending Guides

Why Mortgages Get Denied
Common denial reasons and how to improve your chances
Comparing Mortgage Lenders
What to look for when choosing a mortgage lender
Getting the Best Mortgage Rate
Strategies for securing the lowest interest rate
Understanding HMDA Data
How to read and interpret mortgage disclosure data
Denial Rates by Demographics
Demographic patterns in mortgage approval and denial

Explore More Data

Bank Financial Data → Credit Union Data → Financial Advisor Lookup → Home Insurance Costs → Property Tax Data → Rent Price Data →

Frequently Asked Questions

How many mortgage applications did Cornerstone Bank process?
Cornerstone Bank processed 168 mortgage applications in the 2023 HMDA reporting year. Of these, 149 were originated (approved and funded), 3 were withdrawn by the applicant, and 7 were denied.
What is Cornerstone Bank's mortgage approval rate?
Cornerstone Bank has an approval (origination) rate of 88.7%, meaning 88.7% of all applications resulted in a funded mortgage. The denial rate is 4.2%.
What is the average loan amount at Cornerstone Bank?
The average mortgage loan amount at Cornerstone Bank is $592,143. The average interest rate is 7.464%. The average applicant income is $34,000.
What are the most common reasons for mortgage denial at Cornerstone Bank?
The most common reasons for mortgage denial at Cornerstone Bank are: Debt-to-income ratio, Credit history. In total, 7 applications were denied out of 168 total applications.
What types of mortgage loans does Cornerstone Bank offer?
Cornerstone Bank processes Conventional loans. The most common type is Conventional with 168 applications and an average loan amount of $592,143.
What loan purposes does Cornerstone Bank serve?
Cornerstone Bank serves the following loan purposes: Refinancing (68 applications), Home Purchase (66 applications), Other (24 applications), Home Improvement (10 applications). Refinancing is the most common purpose.
Where is Cornerstone Bank located?
Cornerstone Bank is headquartered in Fargo, ND. The lender is identified by LEI 5493003LIT6MPMIF5W07 in HMDA data.
How does Cornerstone Bank compare in lending across racial demographics?
Cornerstone Bank reports demographic lending data under HMDA requirements. White applicants have an approval rate of 83.8% and denial rate of 5.7%; American Indian or Alaska Native applicants have an approval rate of 75.0% and denial rate of 25.0%; Joint applicants have an approval rate of 100.0% and denial rate of 0.0%. This data reflects derived race categories as reported by applicants.

Data Sources

Data as of 2024. Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024 Snapshot.

Data from FFIEC / CFPB HMDA 2024 Snapshot National Loan-Level Dataset. Demographic data reflects derived categories as reported by applicants. Denial rates include all application outcomes. This data is provided for informational purposes only.

Read our methodology — how this data is sourced, computed, and verified.