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Waterstone Mortgage Names New Director of Affordable Housing

David Sparks, Director–Affordable Housing and Loan Servicing, Waterstone Mortgage Corporation

Pewaukee, Wisconsin-based Waterstone Mortgage Corporation has announced the promotion of David Sparks to the role of Director–Affordable Housing and Loan Servicing. Sparks has more than 25 years of experience in the lending industry and holds his Certified Mortgage Banker (CMB), Accredited Mortgage Professional (AMP), and Certified Residential Underwriter (CRU) designations from the Mortgage Bankers Association (MBA).

In 2018, Sparks joined Waterstone as the Bond Manager and began working alongside state housing finance authorities to bring affordable housing opportunities to Waterstone customers.

In his new role, Sparks will explore trends within affordable housing and underserved communities. He will identify, manage, and grow strategic relationships with key bond authorities and affordable housing assistance providers to offer new, viable programs and to enhance existing programs for Waterstone Mortgage customers.

As the Director of Affordable Housing and Loan Servicing, Sparks will also continue to monitor existing bond and down payment assistance (DPA) programs and will oversee the interim servicing of loans that are sold to private investors.

“David is an extremely valuable member of the company,” said Jennifer George, Waterstone Mortgage VP–Investor Relations and Credit Policy. “His passion for affordable housing drives him to dig deep and find the hidden gems out there that aren’t apparent on the surface but add extreme value for our sales force and their customers. In combination with this passion, his industry knowledge is an incredible asset for our servicing platform. He will continue to seek stronger collaboration with our servicing provider.”

Sparks said, “I enjoy helping people. In my time away from work, on a regular basis, I schedule opportunities to do so. It is also a privilege to fulfill that mission in a different way secularly. What I do helps make the dream of homeownership a reality. This is true from both the availability of a vibrant, affordable housing product mix and ensuring a high service level experience on the loan servicing side. Every day, the work that I do has purpose.”

Waterstone Mortgage focuses primarily on purchase loans, and offers a variety of home loan programs, including conventional, FHA, VA, and USDA loans; along with several no- and low-down-payment options and many specialty programs for medical professionals, first-time homebuyers, and more. Founded in 2000, the company lends in 48 states.

About Author: Eric C. Peck

Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com.

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