Waterstone Mortgage Corporation has maintained a reputation for exceptional service and competitive mortgage financing since our inception in 2000. Since then, we’ve grown to one of the largest mortgage lenders in the country with more than 600 employees in 11 states.
In 2012, the Business Journal of Milwaukee ranked Waterstone Mortgage as southeastern Wisconsin’s largest mortgage lender for the fourth year in a row with over $1.8 billion in annual origination volume. We are a wholly owned subsidiary of WaterStone Bank SSB (NASDAQ: WSBF) with assets of more than $1.6 billion. With this structure, we are able to offer all of the benefits of an independent mortgage banker, as well as the portfolio products of a bank.
Waterstone Mortgage is a Fannie Mae and Freddie Mac approved seller and servicer, which allows our clients to benefit from enhanced product offerings and a more flexible approval process. All of our conventional and government loans are processed, underwritten and closed locally by people who understand the markets in which we lend. This allows us to assure our clients that we’ll get to the closing table on time and without additional headaches or delays.
We are committed to providing you with an exceptional experience and we look forward to the opportunity to serve you!
The WaterStone Bank Story
WaterStone Bank was founded by Edward F. Geske in 1921 and began as a building and loan association under the name of Wauwatosa Building and Loan. Through the years, the original "building and loan" became a "savings and loan" and eventually, on January 1, 1994, became a "savings bank." For most of the bank's history, it was known as Wauwatosa Savings Bank.
In October 2005, the bank's public stock began trading on NASDAQ. The bank experienced substantial growth both in number of branches and product offerings. The growth prompted then-president and CEO Doug Gordon to state, "A name change is necessary to better reflect what we are now, and what we plan to be in the future."
On May 19, 2008, Wauwatosa Savings Bank became WaterStone Bank, SSB. On August 1, 2008, the holdings company also changed its name from Wauwatosa Holdings to Waterstone Financial, Inc. and is currently traded under the symbol [WSBF].
WaterStone Bank offers a full suite of financial products including mortgages, home equity loans, checking accounts, savings accounts, certificates of deposit, money market accounts, IRA accounts, commercial loans, and business banking products.
WaterStone Bank reports assets of over $1.6 billion and employs just over 200 people. The bank is FDIC insured and an Equal Housing Lender.