“With this technology, we’re going to be able to flip the script. We’re going to be able to provide so much value to our partners and we’re going to give our partners and loan officers something nobody has and step out into the future here,” said Craig Snell, vice president of sales at Milestone. “Our goal is to be No. 1. That’s what it’s always been.”
Russell Petty, the founder of North Carolina-based Willow (formerly Grow Mortgage), said he expects to do $1 billion in origination volume in 2025. “I know that won’t make us No. 1, but we’re coming for you,” he said.
The wholesale companies combined for more than $600 million in volume in 2024, according to InGenius data.
Although they’ll be competing with other large brokerages like NEXA Mortgage, C2 Financial, Swift Home Loans, Edge Home Finance and many others, Milestone executives said the biggest competition remains in the retail channel, which has more than 70% of the mortgage pie.
Bristol County Savings Bank bought into Milestone in 2022. Bristol has a federal registration and has given the lender the flexibility to bring on loan officers who are not yet licensed. Milestone has about 45 to 50 LOs and expects to have roughly 200 by the end of the year, pairing them with what executives describe as a highly experienced operations staff.
“There are lots of $50 million to $100 million LOs who don’t want their own company but want better technology,” Snell said. “Because their AI proprietary tech system puts everything they need on one portal, they have a distinct advantage.
“We want to grow by $1 billion a year until we grow tired.”
