Waterstone Mortgage announced it has opened a new Southwestern regional office in Albuquerque, New Mexico. While Waterstone extends its reach, decreasing origination rates are forcing other mortgage companies to downsize.
Waterstone Mortgage Corp. recently announced it is making changes to its leadership in the Southeast with the appointments of three new regional vice presidents. The national lender added David Holbrook, Dustin Owen and Michael Smalley as regional vice presidents for the Southeastern area of the nation.
Investment in technology yields significantly faster turn times
July 1, 2016
The company’s dedication to efficiency starts with the borrower. The entire process that customers have to go through with lenders has significant room for improvement and to address that, Waterstone Mortgage is investing in technology that automates redundant tasks in the back office.
The "Wealth Building Loan" requires no down payment, and offers eligible borrowers a 7/1 adjustable rate mortgage with a 20-year amortization. Waterstone said that the "Wealth Building Loan" also eliminates monthly mortgage insurance payments nearly four years sooner than a 30-year conventional loan with a 3% down payment.
Mortgage Agility allows borrowers to upload mortgage application data though mobile devices, then extracts that information and assembles it into a complete mortgage application package that integrates directly into loan origination systems.
Eight years after we began recognizing women for their influential work in the expanding housing and mortgage finance ecosystem, a traditionally male-dominated field, our Women of Influence list is bigger and better than ever! This year, we honor 85 women who are making lasting achievements in each sector of the housing economy. Read on to learn more about these accomplished women and the strides they are making in their industry segments.
The financial world at large is experimenting with changing its workforce culture in ways not fathomable 10 years ago. For example, in 2011, the dress code for female workers at UBS came to light with unflattering results. In it, the Swiss bank instructed female employees on not just how to dress and how to smell, but also preached the importance for ladies to apply lotion after taking showers. Fast forward to today and fellow Swiss bank, Credit Suisse has now created an official role to boost equal opportunities and create a fair treatment environment. Has the American mortgage industry made similar progress?
The conversation around student loan debt and its economic impact on Millennials, those born from 1980 to 1998, has some questioning whether the future of the American Dream is in jeopardy. The nation’s student loan debt has soared to $1.4 trillion, surpassing credit cards in becoming the largest source of personal debt outside a mortgage.