One-on-One with Pacific Mortgage Group’s Ron Swift
Pacific Mortgage Group (PMG) CEO, Ron Swift, oversees one of two operations in the mortgage industry whereby the same company owns both a brokerage and a CMHC-approved lender. (CIBC is the other, via its ownership of Mortgage Centre.)
As a result, Ron is uniquely positioned to see things from both a lender’s perspective and a broker’s standpoint. That, and his two decades of industry experience, made us eager to get his take on how he sees our industry evolving.
We asked Ron about topics ranging from consumer loyalty to lenders to the ability of non-bank lenders to compete in the conventional mortgage market.
Ron also spoke about his firm’s new brokerage model, which pays brokers splits of up to 100%, based on the volume they commit to PMG’s in-house lender, Radius Financial. It’s a model that challenges traditional payouts and brokerage margins, so we were sure to ask how he thought his competitors might react.