Approved Mortgage

What Approved Mortgage does

Approved Mortgage, legally Winterwood Mortgage Group, is a privately held direct mortgage banker founded in 1992 and headquartered in Greenwood, Indiana. The company originates residential mortgage loans including conventional, jumbo, FHA, VA, reverse mortgages, portfolio loans, and construction loans for purchase, refinance, and construction transactions. It also originates commercial real estate loans (multifamily, office, retail, warehouse/flex) and small business loans (SBA, lines of credit, merchant services, factoring). Approved Mortgage operates as a direct lender with in-house underwriting that enables same-day approvals and a stated 19-day average loan closing time, supported by a website offering an online application and mortgage calculator but no disclosed AI or automation capabilities.

The company distributes through six physical branch offices (Greenwood headquarters, Franklin, Indianapolis, Lafayette, and Scottsburg in Indiana; North Miami in Florida), phone-based sales, a self-serve online application, and a realtor referral program. Revenue is generated from origination fees and interest on originated loans. The customer base spans individual homebuyers and homeowners, real estate investors, realtors, and small business owners, with multilingual licensed loan officer support in English, Spanish, Portuguese, Hindi, Punjabi, Arabic, and Urdu. The company holds NMLS registration (CO ID 122171), is licensed as a mortgage lender in Indiana, Kentucky, Michigan, Tennessee, and Florida, and is designated as an Equal Housing Lender with a BBB A+ rating. Approved Mortgage self-describes as Central Indiana's largest and oldest locally owned mortgage banker and claims over $6.5 billion in cumulative loans funded for Indiana families as of December 2020.

Name

Approved Mortgage

Legal name

Winterwood Mortgage Group, d/b/a Approved Mortgage

Website

https://approvedmortgage.com

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

11–50 employees

Short description

Approved Mortgage is a privately held, Central Indiana-based direct mortgage banker originating residential, commercial, and small business loans via in-house underwriting, distributed across five states through six branches, an online application, and a realtor referral program.

Ownership category

akta.pro rank

Product category

Residential Mortgage Lending

NAICS

Real Estate Credit (522292)

SIC

Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Mortgage Pre-Approval / Prequalification & Lead-to-Loan Retail Origination (FSALAAAN)

akta.pro secondary industries

Purchase Mortgage Origination (Homebuyer Focused) (FSALAAAD), Cash-Out Refinance Origination (FSALAAAF), Reverse Mortgage Origination (HECM & Proprietary) (FSALAIAA), Multifamily Mortgage Origination (FSALADAB)

Keywords

• Residential mortgage lending
• Commercial real estate loans
• Direct mortgage lender
• Home refinance loans
• Construction financing

Headquarters

HQ city

Greenwood

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Residential Mortgage Lending: Origination of residential mortgage loans including conventional, jumbo, FHA, VA, reverse mortgages and portfolio loans for purchase, refinance, and construction transactions. Revenue generated through origination fees and interest on loans originated.
2. Commercial Real Estate Loans: Commercial real estate loans for multifamily, office, retail, warehouse/flex space properties. Revenue from origination fees and interest.
3. Business Loans: Business lending products including SBA loans, lines of credit, credit card merchant services accounts, and factoring. Revenue from interest and fees.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Approved Mortgage is a direct mortgage banker originating residential mortgage loans (conventional, jumbo, FHA, VA, reverse, portfolio, construction) and commercial real estate and business loans for purchase, refinance, and construction transactions. The company operates with in-house underwriting enabling same-day approvals and an average 19-day loan closing time.

Product overview

Approved Mortgage is a direct lender offering a comprehensive suite of residential and commercial mortgage products. The core residential product line includes conventional, jumbo, FHA, VA, reverse mortgages, portfolio loans, and construction loans for purchase, refinance, and construction transactions. The company also provides commercial real estate loans for multifamily, office, retail, and warehouse/flex space, as well as business loans including SBA, lines of credit, credit card merchant services accounts, and factoring. The company operates as a direct lender with in-house underwriting enabling same-day approvals, supported by digital tools including a mortgage calculator and realtor services platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Conventional Loans
• Jumbo Loans
• FHA Loans
• VA Loans
• Reverse Mortgages
• Portfolio Loans
• Construction Loans
• Commercial Real Estate Loans
• Business Loans
• Realtor Services

Quantifiable outcome

• 19-day average loan closing time
• +2 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Two partnerships are on record, tiered minor.

• Bailey & Wood Mortgage LenderminorStrategic or Co-development Partner · 1 December 2020Partnership with Bailey & Wood Mortgage Lender to provide 250 Christmas Day meals to Franciscan Health COVID staff. Each meal was prepared by Market District in Carmel, Indiana and delivered to hospital workers.
• Absolute Lending LogisticsminorStrategic or Co-development Partner · 1 May 2020Partnership with Absolute Lending Logistics to support local community during COVID-19 pandemic. Companies collaborated to purchase meals from local restaurant Oaken Barrel and deliver to frontline healthcare workers at Saint Francis South-Cancer Center and Hospital.

Scale indicators8 records

Recent moves8 records

Expansion highlights7 records

Broad incumbents

• Rocket Mortgage: Rocket Mortgage is the largest U.S. retail mortgage lender and a direct-lender competitor. It competes head-to-head with Approved Mortgage on speed, in-house underwriting, and digital direct-to-consumer origination, but at vastly greater national scale.
• Caliber Home Loans: Caliber is a large non-bank mortgage originator and servicer with retail, wholesale, and correspondent channels. Comparable to Approved Mortgage on retail origination breadth and product mix, with added servicing portfolio that provides counter-cyclical revenue.
• United Wholesale Mortgage (UWM): UWM is the largest U.S. wholesale mortgage lender and a major force in broker and TPO channels. It competes indirectly with Approved Mortgage through broker relationships and increasingly in retail, and represents the benchmark for direct-lender efficiency at scale.
• NewRez (New Residential Mortgage): NewRez is a large non-bank mortgage lender and servicer with retail, wholesale, and correspondent channels offering conventional and government loans. Comparable to Approved Mortgage on full-spectrum retail origination but with the scale advantages of a public-company parent.

Direct peers

• Guild Mortgage: Guild Mortgage is a privately held mortgage lender with a multi-state retail branch network and a full suite of purchase and refinance products. Comparable to Approved Mortgage on retail branch-led origination, product breadth, and private mid-market positioning.
• Guaranteed Rate: Guaranteed Rate is a large retail mortgage lender combining digital direct origination with physical branch presence across multiple states. Directly comparable to Approved Mortgage on the hybrid digital-plus-branch retail model, though at meaningfully greater national scale.
• Fairway Independent Mortgage Corporation: Fairway is a privately held, regional-to-national mortgage banker with a multi-state branch model, in-house processing, and broad product mix (conventional, government, jumbo, reverse). Highly comparable to Approved Mortgage in branch-led, relationship-driven origination across the Midwest and Sun Belt.
• loanDepot: loanDepot is a national direct-to-consumer mortgage lender offering conventional, FHA, VA, jumbo, and HELOC products. It is directly comparable to Approved Mortgage on product mix and DTC/branch distribution, but operates at materially larger scale.
• Paramount Residential Mortgage Group (PRMG): PRMG is a privately held, multi-channel retail and wholesale mortgage lender with a broad product set and multi-state licensing. Directly comparable to Approved Mortgage on private mid-market positioning, product diversity, and retail/wholesale hybrid model.

Regional players

• DHI Mortgage: DHI Mortgage is the captive mortgage arm of D.R. Horton, the largest U.S. homebuilder, operating through builder branch offices. While builder-affiliated rather than open-market retail, it competes for the same Indiana new-construction purchase volume and represents an adjacent channel peer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/approvedmortco
• Facebookfacebook.com/approvedmortgageco

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Approved Mortgage