Large Nonbank Originator Launches ESOP Program, As Founder Gives More of the Firm to Its Employees
August 11, 2016
Fairway Independent Mortgage, Madison, WI, has been quietly giving control of the company away to a group of investors who are key to its growth: its own employees. The nation’s 22nd largest lender – as ranked by Inside Mortgage Finance – has been issuing stock to some of its senior executives since late last year, but recently rolled out an employee stock ownership plan to anyone, provided they work there for at least a year. For employees, the best part is...