Company: DLC Easy Street Mortgages
Total volume: $77.4 million
Loans funded: 232
CMP: How did you navigate regulatory changes in 2019?
Kevin Liddiard: Simply put, you must stay informed and adapt accordingly. Tighter policies around mortgage qualification did result in a sizeable increase in the amount of alternative/private lending conducted throughout the year.
CMP: How do you think the industry needs to change to better serve both brokers and consumers?
KL: Get rid of the stress test and bring back 35-year amortizations. Eliminating or greatly overhauling the current federal stress test regulations will provide greater purchasing power to those who are struggling to get into the market for the first time, as well as open up more options for those who are at or nearing maturity in their term. More emphasis on consumer relations/best interests will improve relationships overall. Any relief we can provide to those currently being bogged down by these regulations is a step in the right direction.