Waterfield Mortgage Company Announces Promotion of Len Tichy as Senior Vice President of Business Development, Fulfillment and Retention

Business Wire, Jan 5, 2004

Business Editors

FORT WAYNE, Ind.--(BUSINESS WIRE)--Jan. 5, 2004

Waterfield Mortgage Company, Inc., the largest privately-held mortgage company in the United States, announced the promotion of senior vice president of Business Development Len Tichy. Tichy's responsibilities will now extend to include overseeing the Fulfillment and Retention departments of Waterfield as senior vice president of Business Development, Fulfillment and Retention.

Tichy's responsibilities have been expanded in order to accommodate Waterfield's rapid growth in the mortgage industry. In addition to growing and strengthening the company's relationships with agencies, service providers and fellow lenders, Tichy is now responsible for several loan production channels, including Contract Processing, Consumer Direct, Retention and the company's System Built Homes Division. During the five years that he has been with Waterfield, Tichy has been an industry advocate through participation in Mortgage Bankers Association's (MBA'S) RES Tech Committee and Mortgage Industry Standards Maintenance Organization (MISMO).

"The growth of our mortgage and bank IT functions has magnified the challenges inherent in managing our strategy and implementation for IT," said Don Sherman, chairman and C.E.O. of Waterfield Mortgage Company. "Len's combination of business leadership, customer service commitment, selling skills and technical awareness make him the ideal candidate to lead this production channel."

Prior to joining Waterfield, Tichy served as a senior sales executive for the Real Estate and Mortgage Industry Division of EDS. He is also a member of the National Mortgage Bankers Association and chairman of the association's EDI Committee for Emerging Technology. Tichy received a bachelor of arts degree in English Literature from Ohio University and a master of arts degree in organization and management from Antioch University.

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 Corporation 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.