True Stories: Hybrid, eNote and RON Implementation

Join expert panelists that will discuss the status of federal legislation, trends in digital adoption and how best to prepare your organization for the next generation of lending processes.

Spruce’s Patrick Burns on innovation in title technology

In the season finale of Housing News season 5, Spruce CEO discusses heightened investor interest in title tech, innovation and fintech adoption.

Top CFPB official “hates” QM rules, jeopardizing safe harbor

A top CFPB official in charge of the rule-making process has heavily criticized the agency's own qualifying mortgage rule, jeopardizing safe harbor.

Fraud risk factors at closing increased almost 90% last quarter

A variety of risk factors could be contributing to the drastic increase in wire and title fraud risk factors in mortgage and real estate closings – for example, compliance issues and an increase in transaction data errors.

AwardsMagazine

2019 HW Vanguard: Patrick Stone

Williston Financial Group Family of Companies Executive Chairman and Founder

Since founding Williston Financial Group, Patrick Stone has worked to take isolated elements of the real estate industry and create collaboration in order to increase efficiency and improve the mortgage experience for homebuyers. 

This has been evident in the past year, as Stone has established a client-first culture at WFG that’s best summated by the fact their Netpromoter score hit 81 in August. During the time leading up to this telling score, Stone oversaw the launch of WFG’s DecisionPoint, a completely automated title decisioning system. Using this, lenders will know almost instantly the application-to-close time, as well as any curative steps needed based on the results. 

Stone also spearheaded the expansion of the use of My Home from real estate agents to homebuyers and lenders. My Home is a secure messaging network where real estate agents, homebuyers and lenders can all safely track a real estate transaction’s progress in a way that is both customizable and mobile friendly. Stone recognized the value in offering this service to lenders, so they can also track a loan’s progress. 

Stone brings a wealth of industry experience, previously running Fidelity National Financial, where he oversaw 2,000 offices. But now, he is leading the Williston Financial Group of companies toward increased consolidation. 

The results of his emphasis on and investment in technology versus physical addresses has been phenomenal. This year, WFG is on track to generate significantly more revenue per office than its competitors, despite needing only a fraction of the office space and related overhead costs.

What has been your secret to success?

“I strongly believe in and have had great success with rejecting a hierarchical organizational model. I encourage everyone to say what’s on their mind, there’s no downside to disagreeing with me. I would rather people say what they are thinking right now than find out later that they thought differently.”

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