Planting
his
roots

Stone
got
his
industry
start
at
just
25
years
old,
quickly
making
a
name
for
himself
while
taking
on
a
variety
of
projects
including

residential
subdivisions,
warehouses
and
even
a
medical
office
condominium.

“I
actually
had
a
real
estate
license,”
he
said.
“I
did
residential,
I
did
commercial,
you
name
it.
That
hands-on
experience
taught
me
the
full
scope
of
the
real
estate
ecosystem.”

But
his
first
big
test
came
in
the
mid-1980s
during
the
savings
and
loan
crisis
—
a
time
when
the

mortgage
market
dried
up
and
title
companies
were
hit
hard.

“I
had
just
taken
over
a
regional
operation
in
Portland
(Oregon),”
Stone
recalled.
“We
went
from
seven
offices
and
93
people
to
three
offices
and
17
people
in
six
months.
There
just
wasn’t
any
business.”

Rather
than
retreat,
Stone
innovated.
He
helped
launch
a
contract
servicing
department
to
facilitate
seller-financed
transactions.

“That
was
probably
the
smartest
move
I
ever
made,”
he
said.
“We
became
highly
profitable
in
one
of
the
worst
markets
ever.”

Stone
has
previously
served
as
vice
chairman
of

Metrocities
Mortgage
and
as
chairman
of
Austin-based

The
Stone
Group.
In
additional
to
several
other
leadership
roles,
he
has
spent
time
on
the
boards
of


Fidelity
National
Financial
and


First
American
Financial
Corp.

His
career
accolades
include
receiving

HousingWire’s
Vanguard
Award
in

2019
and
again
in

2021.

Vision
sparked
by
crisis

Stone
went
on
to
work
as
president
and
chief
operating
officer
at
Fidelity
National
Financial
before
“retiring”
—
only
to
dive
back
in
with
a
new
mission.
When
the
2008
financial
crisis
hit,
what
he
saw
alarmed
him.

“The
industry
kind
of
shrugged
and
said,
‘That’s
a
lender
problem.
That’s
a
Realtor
problem.’
And
I
thought,
no
—
we’re
all
part
of
the
same
transaction,”
he
said.
“Title
companies
have
to
start
thinking
of
themselves
as
partners
in
the
client’s
process.”

That
idea
became
the
foundation
of
WFG,
launched
in
2010
with
the
goal
of
creating
a
title
company
that
emphasized
collaboration
and
“client-centric
innovation,”
Stone
said.

“If
a
Realtor
originates
a
deal,
we’re
part
of
their
process,”
he
said.
“Same
with
a
lender,
or
an
attorney.
We
have
to
treat
it
like
that.
I
don’t
think
anyone
in
the
industry
really
did
that
before
WFG
—
not
with
the
same
focus.”

Growth
with
intention

WFG
has
grown
steadily
but
not
recklessly.

“We’ve
never
chased
market
share,”
Stone
said.
“We’re
not
public.
We
don’t
have
to
hit
quarterly
targets.
Instead,
we’ve
been
very
strategic.”

WFG
operates
its
own
title
plants
and
offices
in
seven
Western
states.
It
maintains
partnerships
in
the
top
U.S.
housing
markets
to
ensure
national
service
for
its
clients.

“We
studied
loss-to-earnings
ratios
by
state.
There
are
some
states
where
you
just
don’t
want
to
deploy
capital,”
Stone
explained.
“So
we
stayed
lean,
stayed
smart
and
focused
on
where
we
could
add
real
value.”

He
added
that
WFG
also
bucks
the
trend
of
top-heavy
corporate
hierarchies.

“There’s
no
such
thing
as
a
flat
organization,
but
we’re
probably
the
closest
thing
you’ll
ever
see,”
Stone
said.
“Steve
Ozonian
and
I
talk
directly
with
revenue
producers
all
the
time.
We
want
to
know
what
the
client’s
thinking,
not
just
what
someone
on
a
chart
thinks
we
want
to
hear.”

Lessons
after
50
years

When
asked
about
the
most
important
lessons
learned
over
his
50-year
career,
Stone
didn’t
hesitate.

“I’m
a
stoic
philosopher,”
he
said.
“Epictetus
said
the
key
to
life
is
knowing
what
you
can
control
and
what
you
can’t.
That’s
how
I’ve
tried
to
lead.”

One
of
Stone’s
proudest
professional
traits
has
been
adapting
to
tough
markets.

“Don’t
complain
about
the
market
—
you’re
not
going
to
change
it.
Adapt,
find
opportunity
and
focus
on
what
you
can
control,”
he
said.

Stone
believes
both
the
title
and
mortgage
sectors
are
long
overdue
for
reform
—
especially
when
it
comes
to

closing
efficiency.

“When
I
started
in
1975,
it
took
45
days
to
close
a
deal.
Today,
it
still
takes
40.
That’s
insane,”
he
said.
“Everybody’s
siloed
—
lenders,

appraisers,
title
companies,
Realtors.
There’s
minimal
interaction,
duplicated
processes
and
tons
of
inefficiency.”

He
sees
some
promise
in
the
wake
of
the


National
Association
of
Realtors’
settlement
and
other
market
shifts.

“There’s
now
real
motivation
to
innovate,
to
finally
create
streamlined
systems,
reduce
costs
and
shorten
closing
times,”
Stone
said.
“I
hope
the
industry
finally
gets
serious
about
collaboration.”

He
also
sounded
the
alarm
on
the
national

housing
shortage.

“We’ve
underbuilt
for
the
last
15
years.
There
just
aren’t
enough
homes,”
Stone
added.
“It’s
basic
supply
and
demand.
Until
we
build
more
—
and
I
mean
quickly
—
prices
will
stay
out
of
reach
for
too
many
people.”

Personal
reflection

Looking
back
on
his
career,
Stone
expressed
deep
gratitude
—
not
just
for
personal
success
but
for
the
people
who’ve
shaped
his
journey.

“This
isn’t
about
me.
It’s
about
everyone
I’ve
worked
with:
the
mentors,
the
teams,
the
partners,
the
clients.
You
don’t
build
a
career
or
a
company
like
this
alone,”
he
said.

“We’ve
got
a
lot
more
to
do.
But
we’ll
do
it
the
same
way
we
always
have,
by
staying
close
to
the
client,
avoiding
ego
and
working
together.”

His
message
to
his
colleagues,
partners
and
peers?

“We’re
all
in
this
together.
Let’s
act
like
it,”
Stone
said.
“Let’s
finally
break
down
these
silos
and
make
home
buying
faster,
cheaper
and
more
accessible
for
everyone.”