Waterstone Mortgage to open regional office in Albuquerque

Southwest office and satellites to employ 100

WaterStone Bank
WaterStone Bank's Wauwatosa headquarters.

Last updated on May 14th, 2019 at 05:07 am

Pewaukee-based Waterstone Mortgage Corp. plans to open a sizable Southwest regional office in Albuquerque, New Mexico.

Sue Millspaugh

Waterstone will employ 100 people among the main Albuquerque office and multiple satellite offices.

“This is a significant growth opportunity for Waterstone Mortgage,” said Eric Egenhoefer, chief executive officer. “The addition of the Albuquerque branch, which will make up our Southwestern region, will allow us to more effectively serve homebuyers in this area of the country. With the product variety of a bank-owned organization – as well as the local expertise our Albuquerque office will offer – we hope to bring a new level of expertise to customers in the greater New Mexico area.”

Sue Millspaugh, regional vice president, will lead the new branch. She has more than 30 years of mortgage lending and finance experience. Also staffing the office will be closers, processors, underwriters, loan assistance, marketing and administrative professionals.

“My team and I are very excited to join Waterstone Mortgage,” Millspaugh said. “The organization’s sterling reputation, ability to close loans on time, substantial list of product offerings, and company culture will fit perfectly with our overall goals. The team is also looking forward to the opportunity to grow professionally within a well-respected and forward-thinking company.”

Waterstone Mortgage is a subsidiary of Wauwatosa-based WaterStone Bank SSB, which is part of Waterstone Financial Inc. Waterstone Mortgage has $2.6 billion in annual loan origination volume. The mortgage lender, which has more than 700 employees at offices in 24 states and lends in 47 states, recently added the position of president to accommodate its rapid growth.

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Molly Dill, former BizTimes Milwaukee managing editor.

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