Charleston-based Daniel Island Mortgage announces their integration with FDIC-insured WaterStone Bank to deliver Wall Street capital to Main Street.
Charleston, SC – May 10, 2010 - Charleston-based Daniel Island Mortgage, Inc., a 2009 top 10 area mortgage broker, announces its successful integration with FDIC insured WaterStone Bank, a publicly-traded financial institution with roots dating back to 1921.
Combining the power of a mortgage banker with the flexibility of a mortgage broker, this partnership offers South Carolina consumers the best of both worlds when shopping for a home loan.
Waterstone Mortgage Corp. is a wholly owned subsidiary of WaterStone Bank SSB (NASDAQ: WSBF), a well-capitalized FDIC depository representing assets of nearly $2 billion. With 31 offices in 9 states, Waterstone is strategically expanding its national footprint and is optimistic about the growth and positive housing trends in South Carolina.
The partnership was led by Gary Harwyn, former president of Daniel Island Mortgage, and now branch manager of Waterstone Mortgage Carolinas, who selected the firm after more than a year of national research. Harwyn notes, “In today’s shifting real estate market and economy, we have essentially delivered an industry-leading, value-based company with Wall Street capital to Main Street”.
The primary benefits for consumers include access to a solid and stable capital pool, local appraisal management, direct Fannie Mae seller/servicing capabilities, NYLX automated loan pricing engine, and the flexibility to underwrite and fund on behalf of the nation’s top investors.
Building on Daniel Island Mortgage’s nationally recognized success in the energy-efficient housing market, Waterstone will also continue to support the green real estate market with the adoption of myEnergyLoan, the nation’s leading green mortgage discount program.
About Waterstone Mortgage Corp:
Waterstone Mortgage Corp. is a wholly owned subsidiary of WaterStone Bank SSB (NASDAQ: WSBF), based in Pewaukee, Wisconsin and operates 25 branches in 9 states, employing 350, including a staff of 7 at the Daniel Island office.
Contact: Gary Harwyn, Branch Manager
Waterstone Mortgage Corp
(843) 375-1234
carolinasinfo@waterstonemortgage.com
www.waterstonemortgagesc.com
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