July 2016 - Lessons Learned

TheMReport — News and strategies for the evolving mortgage marketplace.

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TH E M R EP O RT | 35 E-Lending Guide Special Advertising Section KEY PERSONNEL Eric Egenhoefer President and CEO Kevin Gillespie COO Tom Knapp SVP - CIO STAFFING Waterstone Mortgage has over 600 employees. CONTACT INFORMATION N25 W23255 Paul Road Pewaukee, WI 53072 Phone: 262.691.9300 Email: info@ Web: Waterstone Mortgage Corporation COMPANY DESCRIPTION With a primary focus on supporting loan origina- tors, Waterstone Mortgage Corporation is a com- pany built around what these professionals need to be successful. Aside from offering their loan professionals superior support—such as in-house marketing, legal/compliance, and loan processing support—they also equip them with a wide variety of innovative loan products and proprietary technology solutions. COMPANY HISTORY Waterstone Mortgage Corporation was founded by President and CEO Eric Egenhoefer in 2000. As the company grew, it committed to supporting its loan originators in producing high quality loans, with a strong focus on purchase loans. This approach has allowed Waterstone Mortgage to not just survive economic and industry challenges, but to thrive in spite of them. Today, the company originates more than $2 billion in mortgage loans annually. BUSINESS LINES, SERVICES, AND PRODUCTS Waterstone Mortgage offers a variety of loan prod- ucts, which allows virtually every potential home- buyer to pursue their dream of homeownership. Aside from Conventional, FHA, VA, and USDA loans, they also offer niche products such as the 100 percent LTV Wealth Building Loan, jumbo, and super jumbo loans (including jumbo loans with up to 95 percent LTV), a Medical Professional Program, first-time homebuyer programs, reverse mortgages, refinance options, and much more. GEOGRAPHICAL SCOPE AND COVERAGE AREA Waterstone Mortgage has locations around the country, with the ability to lend in 37 states. In the first half of 2016, they added new branches and lo- cations in a variety of states where the real estate market is growing and thriving. KEY FEATURES/BENEFITS One of the defining factors at Waterstone Mortgage is their commitment to purchase loan financing. Because they focus on purchase loans, they are able to offer a level of purchase expertise that isn't common with many other mortgage lenders. Approximately 89 percent of their business is comprised of purchase loans, in comparison to 59 percent for other lenders (according to the April 2016 Ellie Mae Loan Origination Insight Report). Along with the purchase focus, they also consistently exceed industry average turn times for loans. Their steadfast commitment to their effective technology solutions and efficient processes is what helps them achieve these outstanding purchase-financing goals. COMPETITIVE ADVANTAGE At Waterstone Mortgage, their innovative technology is an important aspect that differenti- ates them from other mortgage lenders. Their proprietary Connect tool allows loan originators to view and manage their Encompass data on their mobile devices or personal desktop com - puter. Connect also helps loan originators provide regular borrower and referral partner updates via email, view the status of each loan in the Loan Calendar, view their current pipeline, and much more. Waterstone Mortgage is also continuing to advance and develop mobile technologies, in order to stay connected to their customers. ADDED VALUE TO CLIENTS One of the ways Waterstone Mortgage makes the lending experience a positive one for their clients is by introducing new technology solutions. They are currently investing significant time and resources both with technology partners and with in-house development to address all aspects of data smart capture technology, which will create tremendous efficiency in the loan process. In addition, they are piloting an electronic closing (eClosing) program that will roll out in the next six to 12 months. These technology solutions will make the loan process more streamlined and convenient for clients. INDUSTRY AWARDS, ACCOLADES, AND MILESTONES In 2015, Waterstone Mortgage surpassed $2 billion in annual loan origination volume. Awards include: • 2015 KOFAX Best Mortgage Solutions • 2015 Ellie Mae Hall of Fame Award for Outstanding Efficiency & Return on Investment • 2016 Ellie Mae Hall of Fame Award for Exceptional Achievement in Business Growth "In our industry, nothing stands still for very long. We know we have to respond to changes in technology, changes in the industry, and changes in requirements. We're positioned and staffed to appropriately be able to respond, in a very effective and timely manner, when changes occur." —Tom Knapp, Waterstone Mortgage SVP - CIO

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