Waterstone Financial has hired Jeff McGuiness as President and CEO of its mortgage subsidiary, Waterstone Mortgage. He is the fourth to have taken the top spot since summer 2018.
McGuiness joins Waterstone Mortgage as the company hits a record quarter in mortgage volume. The third quarter grossed $ 1.3 billion, and more importantly, shopping represented 64% of total business in a period that refinanced 52% of total output from all lenders, according to the Mortgage Bankers Association.
Jeff McGuiness is the new President and CEO of Waterstone Mortgage.
Most recently, McGuiness was Chief Sales Officer at Embrace Home Loans, but before that he was CEO of Lenders One Cooperative. McGuiness also served as Head of Mortgage and Consumer Banking at Aurora Bank and General Manager of Retail Channels and Correspondents for CitiMortgage.
Doug Gordon, CEO of the parent company and President and CEO of WaterStone Bank, had held the senior position at Waterstone Mortgage since July 31, when Andy Peach left the company. He took over the office in August 2019. Peach is now Senior Vice President, Correspondence Sales for Mr. Cooper, according to his LinkedIn profile.
In June 2018 A.W. Pickel III was named President of Waterstone's Mortgage Division, with Eric Egenhoefer, its founder, remaining as CEO. Almost two months later, Egenhoefer left the company completely and Pickel became CEO.
But Waterstone Financial announced Pimple "for an important reason" the following March.
"We are excited to have Jeff McGuiness at Waterstone Mortgage," Gordon said in a press release. "His experience, expertise and connections in the mortgage industry will determine the future growth of Waterstone Mortgage. Jeff's leadership style will complement the strength of the leadership team and enhance the success of our mortgage business."