Washtenaw Group, Inc. operates as the holding company for Washtenaw Mortgage Company (Washtenaw). Washtenaw, a Michigan corporation, engages in mortgage banking activities and, as such, acquires, sells and services one-to-four unit residential mortgage loans. Washtenaw acquires and services residential mortgage loans in 40 states. Lending Activities Mortgage Banking Operations: The company participates in the mortgage banking market on a national basis. Mortgage banking generally involves the origination or purchase of single-family mortgage loans for sale in the secondary mortgage market. Wholesale Loan Production: Under its wholesale operations, Washtenaw funds mortgage loans originated by a network of approximately 1,900 independent mortgage brokers nationwide. Correspondent Loan Production: Washtenaw acquires mortgage loans from mortgage lenders, commercial banks, savings and loan associations, and other financial intermediaries. Retail Loan Production: The retail loan activities of Washtenaw primarily involve the origination of single-family mortgage loans. Mortgage Loan Servicing Activities Mortgage loan servicing includes collecting payments of principal and interest from borrowers, remitting aggregate mortgage loan payments to investors, accounting for principal and interest payments, holding escrow funds for payment of mortgage-related expenses, such as taxes and insurance, making advances to cover delinquent payments, inspecting the mortgaged premises as required, contacting delinquent mortgagors, supervising foreclosures and property dispositions if there are unremedied defaults, and other miscellaneous duties related to loan administration. The company’s mortgage servicing portfolio includes servicing for adjustable rate, balloon payment, and fixed rate fully amortizing loans. Market Area The company principal market areas include Michigan, Illinois, Ohio, California, and Virginia. Washtenaw’s mortgage banking office is located in Ann Arbor, Michigan. History Washtenaw Group, Inc. was incorporated in 2003 in Michigan.
washtenaw group inc/the
3767 Ranchero Drive
Ann Arbor, MI 48108
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