Employee Ownership and Mortgage Finance Companies

In a HousingWire article titled Are Employee Stock Ownership Plans the key to healthier mortgage finance companies?, Brena Swanson suggests the answer may be "yes." Gellert Dornay, president and CEO of Axia Home Loans, which became 100% owned by its employees back in September 2016, says, "When employees run the company, our decision methodology is different. Everything is in the primary best interest of the shareholders, who are the employees." He also says that when employees have "skin in the game," it could lead to better decisions about making prudent risk-management decisions in the loans they choose to make.