The day Will Steneman funded his first loan in 1992, First Equity Mortgage & Title was born. Within a few years Steneman grew the company to a regional player in the mortgage banking field. First Equity, led by Steneman, originated over 300 million annually with over 50 employees. The steady growth was strictly due to making quality loan decisions in house and controlling the loan from start to finish. A classic Steneman trait emerged in how he would approve loans that would typically close. His staff were experts in mortgage lending and had a strong understanding of the Maryland mortgage market. They had the culture of a true mortgage banker. In 2001 First Equity was sold to outside concerns.
In 2003 Steneman founded WCS Funding Group and targeted mortgage brokers wholesale business. He believed he could provide local mortgage brokers a better alternative than the big box lenders. And he did by offering competitive rates and ultra fast service and by removing the typical complications found in the lending process. Steneman formed a strong belief that the mortgage process shouldn't be complicated and that every client should walk away satisfied with their new financing.
The 2007 crash dealt a severe blow to the entire mortgage industry. Steneman, one of the last man standing, yet again turned his focus on retail mortgage lending. WCS Funding Group is a product of billions in loans originated, processed, underwritten and funded all in house. Steneman has once again assembled a high quality staff. Efficient and trustworthy.
The retail lender with a wholesale attitude.