Dovenmuehle is one of the oldest mortgage banking companies in the United States with a long history and
rich heritage. Major milestones include the following:
1844 The predecessor of Dovenmuehle was founded as a "Land Agent" by Robert Malcom within Anderson's
Ice Cream Saloon on Clark Street in Chicago. At that time there were a total of 9,000 residents in
the City of Chicago. This company was acquired by Henry C. Dovenmuehle and re-named
"Dovenmuehle, Inc." The company's early activities were focused on commercial property brokerage.
Dovenmuehle Mortgage, Inc. was added as a subsidiary and operations were expanded to include "Real
Estate and Money." Dovenmuehle financed the development of notable commercial and multi-family
projects throughout the United States including many of the original residential condominium buildings
1929 Percy Wilson Mortgage and Finance Company, which later acquired Dovenmuehle, was founded by
Mr. Percy Wilson in Chicago with a focus on residential mortage banking and government lending
especially for military veterans. The company's offices were originally located at 105 S. Dearborn
Street, later moved to 350 S. LaSalle Street, then to 55 E. Monroe Street and then to 221 N.
1944 The following headline from an article published in the January 28, 1944 issue of The Real Estate News:
100th Year in Business -
History of Century-Old Mortgage House"
1969 Dovenmuehle was acquired by Chase Manhattan Bank to expand the bank's residential, commercial and
multifamily lending operations nationwide.
Below is the original "Top Hat" Dovenmuehle company logo as shown on a sample mortgage loan
document envelope used during the 1960s:
1979 Dovenmuehle was acquired by Percy Wilson Mortgage and Finance Company to diversify its
residential mortgage banking operations with commercial and mutifamily lending.
1983 Percy Wilson Mortgage and Finance Company was sold to Gildorn Savings Bank in Chicago and
re-named Gildorn Mortgage. Gildorn Mortgage relocated its operations from downtown Chicago to new
office facilities located in the expanding Northwest suburb of Schaumburg, Illinois.
1984 Gildorn Savings Bank was then sold and re-named Enterprise Savings Bank.
1987 Enterprise Savings Bank restored the historical name of "Dovenmuehle Mortgage, Inc." and the new
stylized green "D" logo was introduced.
1991 Dovenmuehle was acquired by William A. Mynatt, Jr. All loan origination operations were discontinued
as the company launched a new strategy to become the nation's premier outsourcing firm for mortgage
servicing. At this time, the company had a total of 35,000 loans in the servicing portfolio.
2006 Dovenmuehle relocated to the Kemper Lakes Business Center in Lake Zurich, Illinois with additional
operations centers later added in Elgin and North Aurora, Illinois.
2011 Dovenmuehle remained the largest mortgage subservicing firm in the United States. Total portfolio
volume surpassed 500,000 loans being subserviced for commercial banks, thrift institutions, credit
unions, mortgage bankers and state housing finance agencies nationwide.
The following letter was published on September 21, 2011 in USA Today highlighting the historical role
played by Dovenmuehle in financing U.S. homeownership during and after World War II:
Low Rates in 1940s
"In 1945 my parents had a 2%, 30-year loan on
their new $6,000 house in Franklin Park, IL
from Dovenmuehle Mortgage. A 10% down
payment borrowed from Dad's employer was
required. Closing costs of the house were $45.
Today, the fair market value is $120,000."
2013 Dovenmuehle remains the largest subservicing firm in the United States surpassing one million loans
under management with 1,500 associates located at expanded office facilities in Lake Zurich
and Elgin and a new office in North Aurora opened in October.