Today we’ll do an in-depth review of CrossCountry Mortgage, which as the name implies, is a nationally-licensed mortgage lender that offers its home loan services in all 50 states and the District of Columbia.

Given their name, it’s a good thing they do. The consumer direct mortgage lender is based out of Brecksville, Ohio and has been around since 2003.

CrossCountry Mortgage Fast Facts

• Founded in 2003 by CEO Ronald J. Leonhardt, Jr
• Headquarters in Brecksville, Ohio
• Nationally licensed direct lender in all 50 states
• Nearly 3,000 employees at over 200 branches
• Fannie Mae, Freddie Mac, and Ginnie Mae Approved Seller/Servicer since 2012
• Owns a loan servicing portfolio worth $2.387 billion+

Interestingly, they began as a mortgage broker before transforming into a full-scale mortgage lender themselves.

Today, they are around a top-30 retail mortgage lender, with aspirations to probably crack the top-25 and go even higher over time.

In 2018, they did loan volume of roughly $7.2 billion, with a high concentration of loans originated in Florida, Ohio, and California, per HMDA data.

In 2019, they acquired Chicago, IL-based PERL Mortgage, and a year earlier, Chicago-based bemortgage. This has allowed them to expand their footprint, especially in the Midwest.

They also own subsidiaries BestRateUSA and Veterans Lending Group, the latter being a VA loan lender.

And were also recently named to Inc. Magazine’s list of 5000 fastest growing private companies in the United States. Let’s learn more about them.

Applying for a Home Loan with CrossCountry Mortgage

First, you fill out a short pre-qualification form on their website. Then a licensed loan officer will contact you within 24 hours to go over eligibility and your loan options.

This will involve a full pre-qualification to ensure you qualify, followed by a consultation to go over loan options and mortgage rates.

You can also use the “find a loan officer” feature to search for a loan officer by name (if you’ve been referred or know someone specific), or search by branch location if you want to speak to someone nearby.

These individuals have their own websites, which have different application forms, some powered by digital mortgage tech company Blend.

So it appears you can apply for a mortgage without actually speaking to anyone. And get personalized rates and compare loan options depending on the branch in question.

Once approved for a loan, there is functionality to upload documents, track loan status, and more.

FastTrack Credit Approval Program

CrossCountry Mortgage offers its FastTrack Credit Approval program, which is designed to give you an edge in a competitive housing market.

First, you apply for a mortgage and provide all the required documentation, such as W-2s, bank statements, and tax returns. Your credit history will be reviewed.

Then you’ll receive two letters – a buyer letter that shows you have Credit Approved status subject to terms and conditions.

And a seller letter (pre-approval letter) you can share with a homeowner to show your approved loan amount, along with the statement that you’ve been Credit Approved.

Even if you haven’t found a home yet, you can clear conditions on your loan that aren’t related to the property itself.

In fact, your loan could close in as few as 7 days after signing a purchase contract, assuming you’ve cleared most of your borrower-specific conditions.

Regardless of how you approach it, they aim to close in 21 days, which is a plus for those buying a home on a tight deadline.

What Home Loan Products Does CrossCountry Mortgage Offer?

• Conventional loans (Fannie/Freddie)
• Government loans (FHA, USDA, VA)
• FHA 203k loans
• FHA cash-out refinance
• Jumbo loans up to $3 million
• Streamline refinances for FHA, USDA, and VA
• Reverse mortgages
• HELOCs

CrossCountry Mortgage offers home purchase loans, mortgage refinances, renovation loans, home equity lines of credit, and reverse mortgages.