Greg McCurdy Joins Waterfield Mortgage Company As New Senior Vice President and Credit Risk Manager

Business Wire, Nov 20, 2003

Business Editors

FORT WAYNE, Ind.--(BUSINESS WIRE)--Nov. 20, 2003

Waterfield Mortgage Company, Inc., the largest privately-held mortgage company in the United States, announced today the addition of Greg McCurdy as senior vice president and credit risk manager.

McCurdy's responsibilities in his new role include further establishing policies and procedures to mitigate credit risk to Waterfield and their investors, developing a comprehensive pre-funding policy for detecting fraud/misrepresentation and recovering maximum dollars through recourse procedures. In addition, McCurdy intends to improve fair lending policies and practices through enhanced analysis and increase efficiencies in analyzing and developing new products.

Prior to joining Waterfield, McCurdy held positions as a quality control manager and national underwriting manager for a mortgage company in Dayton, Ohio.

"Greg has extensive knowledge of underwriting and credit policy in the mortgage industry and the proven ability to lead Waterfield's efforts in reducing credit risk to the consumer," said Don Sherman, chairman and CEO of Waterfield Mortgage Company. "His past experience makes him an invaluable asset to Waterfield and is sure to enhance our established position in the industry."

McCurdy holds a bachelor of Business Administration degree in Accounting from Wright State University in Dayton, Ohio.

About Waterfield Mortgage Company - Celebrating 75 Years

This year marks the 75th anniversary of Waterfield. Founded in 1928, Waterfield Mortgage Company, Inc. is the holding company of the Waterfield Group. The Fort Wayne, Ind.-based Waterfield Group includes Waterfield Financial Corporation, Union Federal Bank of Indianapolis, and Waterfield Insurance Agency.

Waterfield Financial Corp. is a mortgage loan origination company with retail loan offices throughout the United States. Waterfield also provides wholesale originations nationwide. The combined mortgage operations of the Waterfield Group companies are believed to represent the largest privately-held mortgage business in the country. In addition, Indianapolis-based Union Federal Bank is the state's largest full-service federal savings bank. Waterfield Insurance Agency is a full-service insurance agency, which markets life insurance, annuities, property and casualty insurance. Waterfield also owns subsidiaries that provide reinsurance and securities brokerage services and products.

The company has more than 40 offices, 250 loan officers and more than 2,300 employees throughout Arizona, California, Colorado, Florida, Illinois, Indiana, Kentucky, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Texas, Virginia, Washington and Wisconsin. For more information please contact Tom Talarico at 260.434.8085 or visit the Web site at www.waterfield.com.