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Cornerstone Credit Union

Freeport, IL

Cornerstone Credit Union processed 117 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 63 loans with a 28.2% denial rate. Home Purchase was the primary loan purpose. Based in Freeport, IL. The approval rate of 53.8% 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 Credit Union processed 117 HMDA-reported mortgage applications in 2024, originating 63 loans and denying 33 for a denial rate of 28.2% (applicants themselves withdrew 21 files before a decision). The average loan amount was $83,718. The lender reports under LEI 549300COR6KN4QP42U93 from Freeport, IL.

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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness.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 Credit Union's 53.8% origination rate tells you how often an application turned into funded money; the 28.2% denial rate is a separate read on underwriting strictness. Most activity concentrated in Conventional loans (117 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.

117
Applications
63
Originated
28.2%
Denial Rate
$83,718
Avg Loan Amount

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 117 63 33 $83,718

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for Cornerstone Credit Union (LEI: 549300COR6KN4QP42U93) · 2023 HMDA reports filed annually; covers applications received during the calendar year. Approval rates exclude withdrawn / incomplete applications. Denial reasons are lender-reported.

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 57 24 $118,158
Home Improvement 21 15 $32,619
Other 20 13 $52,000
Refinancing 15 9 $73,667
Cash-out Refinancing 4 2 $57,500

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 103 55.3% 27.2%
Black or African American 4 50.0% 50.0%
American Indian or Alaska Native 2 50.0% 50.0%
Asian 2 0.0% 0.0%
Joint 1 0.0% 100.0%

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 101 55.5% 26.7%
Hispanic or Latino 10 40.0% 50.0%

Nearby Lenders in IL

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

GUARANTEED RATE, INC.

CHICAGO, IL

124,492 apps 62,820 originated 5.1% denied

BMO Harris Bank NA

Chicago, IL

42,165 apps 18,166 originated 29.4% denied

Mutual of Omaha Mortgage

Lombard, IL

34,393 apps 19,951 originated 20.2% denied

GUARANTEED RATE AFFINITY, LLC

CHICAGO, IL

21,826 apps 14,587 originated 6.0% denied

THE FEDERAL SAVINGS BANK

CHICAGO, IL

20,656 apps 8,146 originated 9.3% denied
Compare Cornerstone Credit Union vs GUARANTEED RATE, INC. →

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

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Frequently Asked Questions

How many mortgage applications did Cornerstone Credit Union process?
Cornerstone Credit Union processed 117 mortgage applications in the 2023 HMDA reporting year. Of these, 63 were originated (approved and funded), 21 were withdrawn by the applicant, and 33 were denied.
What is Cornerstone Credit Union's mortgage approval rate?
Cornerstone Credit Union has an approval (origination) rate of 53.8%, meaning 53.8% of all applications resulted in a funded mortgage. The denial rate is 28.2%.
What is the average loan amount at Cornerstone Credit Union?
The average mortgage loan amount at Cornerstone Credit Union is $83,718.
What types of mortgage loans does Cornerstone Credit Union offer?
Cornerstone Credit Union processes Conventional loans. The most common type is Conventional with 117 applications and an average loan amount of $83,718.
What loan purposes does Cornerstone Credit Union serve?
Cornerstone Credit Union serves the following loan purposes: Home Purchase (57 applications), Home Improvement (21 applications), Other (20 applications), Refinancing (15 applications), Cash-out Refinancing (4 applications). Home Purchase is the most common purpose.
Where is Cornerstone Credit Union located?
Cornerstone Credit Union is headquartered in Freeport, IL. The lender is identified by LEI 549300COR6KN4QP42U93 in HMDA data.
How does Cornerstone Credit Union compare in lending across racial demographics?
Cornerstone Credit Union reports demographic lending data under HMDA requirements. White applicants have an approval rate of 55.3% and denial rate of 27.2%; Black or African American applicants have an approval rate of 50.0% and denial rate of 50.0%; American Indian or Alaska Native applicants have an approval rate of 50.0% and denial rate of 50.0%. 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.