Pewaukee-based Waterstone Mortgage Corp. has been approved as a Ginnie Mae issuer for the Ginnie Mae I and II single-family mortgage-backed securities program.
Waterstone, which has locations in 15 states, will now have more products to offer government issued loan borrowers and can service government loans issued into Ginnie Mae securities.
The approval, which required a demonstration of strong management and financial capacity and origination expertise, also allows the company to increase its operational efficiency and offer more competitive rates to customers.
“Having Ginnie Mae approval strengthens our competitive position within the market and allows our loan originators to offer a wider variety of loan products at competitive rates,” said
Eric Egenhoefer, president and CEO of Waterstone Mortgage. “Becoming an approved Ginnie Mae lender will help us achieve our company’s mission of providing customers with a clear
path to homeownership.”
Waterstone Mortgage has more than $1.8 billion in annual origination volume. It is a wholly owned subsidiary of WaterStone Bank SSB, which has assets of $1.6 billion.
