Company: Mortgage Outlet
Total volume: $172.71 million
Loans funded: 380
CMP: How did you navigate regulatory changes in 2019?
Shawn Stillman: Honestly, 2019 was a year of the status quo. There were a few changes that impacted our business – our alternative and private business increased to about 15% of our volume, from under 2% three years ago.
CMP: How do you think the industry needs to change to better serve both brokers and consumers?
SS: Eliminate fraud – the amount of fraud we see and catch has increased greatly. By strengthening reporting and getting documents from the CRA directly, this can turn the tide.