WINTERWOOD MORTGAGE GROUP, LLC

What WINTERWOOD MORTGAGE GROUP, LLC does

Winterwood Mortgage Group, LLC, doing business as Approved Mortgage, is a privately held, locally owned direct mortgage lender founded in 1992 and headquartered in Greenwood, Indiana. The company originates a broad suite of residential mortgage products including conventional, jumbo, FHA, VA, reverse mortgages, portfolio loans, and construction loans for purchase, refinance, and new-build transactions, and has extended into commercial real estate lending (multifamily, office, retail, warehouse/flex space) and business financing products (SBA loans, lines of credit, merchant services, factoring). Operationally, Approved Mortgage runs an in-house underwriting platform that supports same-day approvals and a stated 19-day average close time, with loan officers delivering service via phone, an online application portal, and six physical branches across Indiana (Greenwood, Franklin, Indianapolis, Lafayette, Scottsburg) and Florida (North Miami); it holds NMLS licensure and lending licenses in Indiana, Kentucky, Michigan, Tennessee, and Florida.

The company serves individual homebuyers, homeowners, and first-time buyers as its primary segments, with real estate agents acting as a key referral channel via a dedicated Realtor Services program, and small business owners and commercial real estate investors as a secondary segment. Revenue is generated primarily through transaction-based mortgage origination fees and economics on loans sold into the secondary market or held on balance sheet, with secondary contribution from commercial loan origination and ancillary business services. The business is owner-operated under CEO Derrick Christy and President Jim Landwerlen, with no disclosed institutional investment, parent company, or public listing, and operates with a lean team of roughly 30+ loan officers averaging 10 years of tenure and a multilingual sales bench spanning seven languages.

Name

WINTERWOOD MORTGAGE GROUP, LLC

Legal name

Winterwood Mortgage Group, LLC

Website

https://winterwood.net

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

11–50 employees

Short description

Winterwood Mortgage Group, LLC (d/b/a Approved Mortgage) is a privately held, locally owned direct mortgage lender in Greenwood, Indiana, originating residential and commercial loans for homebuyers, homeowners, realtors, and small businesses across five U.S. states through in-house underwriting and six branch offices.

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

Government-Insured Mortgage Origination (FHA/VA/USDA) (FSALAAAI), Reverse Mortgage Origination (HECM & Proprietary) (FSALAIAA)

Keywords

• Residential mortgage lending
• Mortgage origination services
• Commercial real estate loans
• SBA business financing
• Mortgage refinancing

Headquarters

HQ city

GREENWOOD, Indiana

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, Technology or R&D, Infrastructure

Revenue model

1. Mortgage Origination Fees and Loan Interest: Revenue is generated through mortgage origination fees charged at loan closing, as well as the interest earned on originated mortgages held on their balance sheet or sold into the secondary market. Products include conventional, jumbo, FHA, VA, reverse mortgages, portfolio loans for purchase, refinance, and construction transactions.
2. Commercial Real Estate and Business Loans: Additional revenue streams from commercial real estate loans (multifamily, office, retail, warehouse/flex space) and business loans including SBA loans, lines of credit, credit card merchant services accounts, and factoring.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Winterwood Mortgage Group, LLC (d/b/a Approved Mortgage) is a direct mortgage lender offering residential home purchase, refinance, and construction loans (conventional, jumbo, FHA, VA, reverse mortgage, portfolio) along with commercial real estate loans and small business financing such as SBA loans, lines of credit, merchant services, and factoring. The company operates its own in-house underwriting to deliver same-day approvals and an average 19-day close, distributed through six branch offices in Indiana and Florida and licensed in five states.

Product overview

Approved Mortgage operates as a full-service mortgage banking platform offering a comprehensive suite of residential and commercial lending products. The core residential product line includes conventional, jumbo, FHA, VA, reverse mortgages, and portfolio loans for purchase, refinance, and construction transactions. The company also provides commercial real estate financing for multifamily, office, retail, and warehouse/flex space properties, alongside business loans including SBA products, lines of credit, credit card merchant services, and factoring. Supporting tools include an online mortgage calculator, and dedicated realtor services with in-house underwriting enabling same-day approvals.

Differentiator

Problem solved

Functional benefit

Products and services

• Conventional Loans Standard mortgage loans not insured by government agencies, available for home purchases and refinances with various term options.
• Jumbo Loans

Quantifiable outcome

• Loan closes in 19 days on average
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Five partnerships are on record, tiered minor.

• Bailey & Wood Mortgage LenderminorStrategic or Co-development Partner · 1 December 2020Approved Mortgage and Bailey & Wood Mortgage Lender partnered to purchase Christmas Day meals for Franciscan Health COVID staff. The two local mortgage companies collaborated to provide 250 meals, individually prepared and packaged by the Market District in Carmel, Indiana.
• The Market District (Carmel, Indiana)minorOthers · 1 December 2020Local restaurant and grocer in Carmel, Indiana that prepared and packaged 250 meals donated by Approved Mortgage and Bailey & Wood Mortgage Lender to Franciscan Health COVID staff on Christmas Day.
• Franciscan HealthminorOthers · 1 December 2020Local hospital network receiving donated meals from Approved Mortgage and partner Bailey & Wood Mortgage Lender. Healthcare workers at Franciscan Health COVID unit received meals as part of community support initiative during the pandemic.
• Absolute Lending LogisticsminorStrategic or Co-development Partner · 1 May 2020Approved Mortgage partnered with Absolute Lending Logistics to support community charitable initiatives during the COVID-19 pandemic. Together they purchased meals from a local restaurant (Oaken Barrel) to feed frontline healthcare workers at Saint Francis South-Cancer Center and Hospital.
• Oaken BarrelminorOthers · 1 May 2020Local restaurant that prepared and packaged individual meals donated by Approved Mortgage and Absolute Lending Logistics for frontline healthcare workers at Saint Francis South-Cancer Center and Hospital during COVID-19.

Scale indicators7 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Hallmark Home Mortgage: Regional retail mortgage banker operating across multiple U.S. states with a branch-based direct lending model. Comparable to Approved Mortgage in being a non-bank retail lender offering conventional, government, and niche products through licensed loan officers.
• Ruoff Mortgage: Indianapolis-headquartered residential mortgage banker and direct lender serving Indiana and surrounding states. Closest geographic and operating-model peer to Approved Mortgage, with comparable retail branch footprint and product mix including conventional, FHA, VA, and jumbo loans.
• Cherry Creek Mortgage: Privately-held retail mortgage banker with branch locations across multiple U.S. states. Closely comparable to Approved Mortgage in size, business model (retail branch-based direct lending), product range (conventional, government, jumbo), and brand positioning around local service and speed.
• Plaza Home Mortgage: Nonbank mortgage company operating retail and wholesale channels across the U.S. Comparable to Approved Mortgage on multi-channel origination, conventional and government product breadth, and a regional retail branch structure.
• Homebridge Financial Services: Privately-held nonbank retail mortgage lender with branch distribution across multiple states. Comparable to Approved Mortgage in business model (retail branch originators, in-house processing, conventional and government product breadth), though operating at somewhat larger scale.

Broad incumbents

• loanDepot: Large nonbank retail mortgage lender with retail branch network and direct-to-consumer digital channel. Overlaps with Approved Mortgage on retail origination, government-insured products, and reverse mortgages, while also competing for realtor referral business.
• Rocket Mortgage: Largest U.S. retail mortgage lender, dominant in direct-to-consumer digital origination and increasingly competing on retail branch speed. A primary competitive threat to regional direct lenders like Approved Mortgage on rate competitiveness, brand, and digital experience.
• NewRez (Shellpoint Mortgage Servicing): Large nonbank mortgage lender and servicer offering retail and wholesale origination across the U.S. Overlaps with Approved Mortgage on direct retail lending, conventional/FHA/VA/reverse products, and a multi-state licensed operation, but at substantially greater scale.
• Guaranteed Rate: National direct-to-consumer mortgage lender with retail branches nationwide. Comparable to Approved Mortgage in offering in-house underwriting, retail branch distribution, and a wide product range including conventional, FHA, VA, and reverse mortgages, but with materially greater scale and national marketing reach.

Emerging players

• Paramount Equity: Smaller nonbank direct lender focused on niche and non-QM products including reverse mortgages and home equity. Comparable to Approved Mortgage's portfolio and reverse mortgage offerings but with less geographic diversification.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/winterwood-mortgage-group-llc

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 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 WINTERWOOD MORTGAGE GROUP, LLC