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.
While some mortgage lenders fail to keep up with the changing times, others are excelling, capitalizing on the change and those who weren’t ready for it. So what’s their secret? Customer service? Technology? An innovative approach to loan originations, and who to lend to? It’s actually all of the above, and more.