Today we dive deep into the world of top producers in the mortgage industry. It’s always amazing to connect with individuals who not only excel regardless of market conditions but also redefine success in their field. Today, we are thrilled to host Nancy Bayat, she is the Co-Founder of Amerify and has led her team to become the number one team at Emortgage Capital for three consecutive years. What sets Nancy apart isn’t just the impressive $4 billion she has funded but also her innovative approach that has significantly impacted how top producers operate and thrive in the industry. We will uncover the keys to her sustained success and discuss how embracing technology, particularly AI tools like Angel AI, has transformed her business operations, allowing for scalability and precision that was previously unattainable.
Angel AI and Technology for Brokers with Nancy Bayat of Amerify
Listeners, So excited to have Nancy Bayat with me today. I love talking to top producers. What is it about top producers in this market that are so fun to talk to?
They are successful! It doesn’t matter what market conditions are. They’re successful and they’re having continued success and Nancy is just that. Nancy is the Co-Founder of Amerify and it’s the number one team at Emortgage Capital for three consecutive years. We’re going to hear what has major successful. She has not only funded over a $1.5 billion, but also has a flawless platform by which she does this allows top producers to thrive and dominate in the market. She’s between Orange County, California and Las Vegas, two of my favorite places to be and so Nancy, welcome to the podcast. So good to have you here!
Thank you so much, David. I’m happy to be here.
I need to also explain that I was introduced to you by Pavan at Angel AI. Pavan is the client and I’m saying Pavan, I’ve got to talk to some top producers that are starting to use Angel AI with success because a lot of people are looking at Angel AI and they’re looking like, is this real? this make a difference? We’re going to get into that a little bit later, but before we do, I want our audience to get to know you, Nancy, tell us a little bit you real briefly. How long have you been in the industry? How did you get started this crazy mortgage industry?
Yeah, I studied finance at Long Beach State University and it was right around the year 2000 before the market kind of burst, I was going to get into stocks and bonds and that didn’t seem like a good idea at the time so I got my broker’s license. I tried selling real estate a little bit and it was just a lot of running around and it was just too much, I needed to see more like an instant gratification kind of type of situation. So I got into loans and I’ve always really been good with numbers and clients I’ve always been in sales. So it just fit and I just stayed.
That’s awesome. When you find yourself doing what you’re doing, what do you think has been the key to your success?
I would say a few things. If you focus on the right thing, success follows. For me, that’s customer service and great service. I don’t chase success. I chase the client experience and if I can perfect that, they’ll always want to come back to me and it’s built over time. It’s built through trust, it’s built through transparency, through honesty, through integrity. So I operate on just the highest levels of all of that. And it’s also set up on setting up the proper expectations, both with my clients and my referral partners. I’ve had some agents that I’ve actually turned away and said, we can’t work together because our values are not in line, they need an update every day. I don’t have that to give to them everyday. I tried to automate that the best that I can through my LOS. So, every milestone change, everyone on the loan file is updated, clients and realtors as well as title even if I can keep everyone in the loop without having to make that call 15 minutes per day, per file adds up to a lot. So it’s really looking at your calendar, seeing what you’re doing throughout your day, how you’re spending your day. I’m time blocked my entire day, both personal and professional.
That is a common denominator for those of us who are successful. Should see my calendar. It’s just blocked. It’s the only way you could do that. If you try to let happenstance happen, it just doesn’t happen. That’s what I’m finding.
As loan officers, we like to live in the past and the future, right? What did I forget to do and what do I need to do next? Where if you time block your day, you find that you’re very present and it’s helped me communicate better because I know that I have to get this next task done and I have 30 minutes to do it. So how efficient am I if I’m not thinking about what I forgot, not thinking about what I got to do next, but what I’m doing at that time, it’s just changed the way that I live.
Yeah. Such a good thing. Another thing I pick up from you is you seem very competitive. You’re serious. You’re competitive, maybe slightly driven. Could we say?
A little bit? Yeah. I love the competition. I think drive is just innate. Some people just have it, I’m not the best closer by any means, but I’m the first one in and the last one to leave. So I’ll work everyone.
You didn’t fund $1.5 billion and be number one for three years in a row in a competitive, very good company, Emortgage Capital is a real great company. And there’s some great originators there. So you’re not doing that just by being nice and sweet and giving good customer service. You got to fight your way to stay there and be there. You talked about the use of technology and I think that’s such an important part of the toolkit. I love time blocking. That’s important. But talk a little bit more about the technology that you’ve used and how you’re using it. And that’s going to open the door as we get into Angel AI. So talk about it.
Yeah. Automate as much as you can automate. So have you heard of BombBomb? It’s actually funny because in 2020, I got a BombBomb from UWM and that’s how it all came about. And it was an underwriter saying, congratulations, your loan’s approved. And a light went off and I’m like, this is brilliant. I created a whole suite of Bomb videos. So I have one at approval stage, one on your loan is being submitted, this is what’s going to happen prerecorded. So I have template emails that automatically go up every time there’s a milestone change. So what did that just do, that eliminated me from having it? Pick up the phone and call when you have, 50, 60, 80 clients running at once. That can take up your whole day. So I automated that.
How did you personalize those videos? because each one of those you want.
Hi, congratulations. Yeah. I just changed my hair, put on a different sweater, put on a button up, change my lipstick. It looked like different days, but it was all recorded in the same day and I just said, congratulations. I’m so excited. Your loan’s approved. Here’s what’s going to happen next. You’re going to hear from our processor. They’re going to ask for some conditions. Make sure you get those back to her right away. If you have any questions, reach out to me as always. Looking forward to closing your loan quick.
And I think this gets down to the most important thing that we all do as the loan regulators, because I think we’re going to be talking about is technology continuing to grow and how is that going to change the way we’re doing business? Absolutely. I come back and maintain this. There will always be the need for the human component on the most important financial transaction of the vast majority of the world and that’s their purchase of their home loan, they’re going to want to talk to someone and reassure them how all the processes, the more we can automate those is what you’re talking about doing Nancy, you’re being so successful as you’re doing so much of that automation. And I applaud you for that and leveraging tools and technology, which gets us to why Pavan recommended I talk to you. you’ve heard about, like many have, about Angel AI. Talk about your first exposure to it and your initial attitude.
Yeah, when it was first introduced, it was called Morgan. And I didn’t really get it. It was a little bit, maybe it was me and not the system, but I didn’t really understand it or appreciate it until I did a walk through with Sam and Pavan and I was like, oh, my God, this is like next level Good. I was at aim last year and I took a complete app through angel AI and submitted a loan while I was at aim and I was speaking.
You were speaking at the conference?
Yeah, I was speaking at the conference. So I got steps from a client, sent it all to Angel AI, prompted Angel AI to create an application. Once they did, I said, send me back a 3.4, took the 3.4, uploaded it to my LOS and I was ready to submit the loan. Like calculate income. You could tell it to lock your loan. It’s going to have credit repair really soon I don’t know when that’s launching. I was told this quarter. I was told it’s coming, but that’s just going to be a whole new thing that I’m just going to devour and credit, could you imagine? anyone who doesn’t qualify it, but I’m into credit repair. They’re going to be yours forever.
I think how do we differentiate ourselves in this market? Speed is without question, speed and communication market. And then also being able to give dependable answers, definitive answers, exactly rely on and how many times we had submitted a loan? They go yeah, I submitted it, but ah, And they come back and say now we need this right conditions. It’s just been a systemic problem in our industry about how we go about it.
And Angel AI guarantees it. So once I saw that, it’s okay, so you’re going to calculate the income and as long as nothing changes, if I didn’t send one pay stub when I should have sent two or something like that or there’s another property on credit and I forgot to mention It’s just incredible that it. They will guarantee it. So SunWest will buy that loan and service it.
What kind of advantages does this give you in the marketplace? My mind is calculating as I’m listening to you because you’re one of the first people I’ve gotten a chance to talk to. We’re going to be interviewing a number of originators who have discovered Angel AI. And I want to get into how this reframes the way you’re going to be doing your business moving forward.
Completely different in that, I’m old school where I will request tips before I quote, because I don’t know what they qualify for. If somebody wants the rate, I give them bankrate. com. Those are the rates. All right. Is that everyone’s rate? Of course not. It’s based on what you qualify for. So I’m old school in that, I’ve never done the whole, I just don’t do it because it’s not accurate. It’s not operating on high integrity. So I just don’t work that way. So I have steps on every client before I speak to them and I’ll upload it to angel AI at that point. I have a full application. I didn’t take the application, right? My referral partners have a copy of my link, and they’ll have the client fill out an application and then I’ll do like a soft check or something to make sure that we ratio, but until then. I haven’t really qualified the client yet if I don’t have steps.
My mind starts running it, how this starts transforming the way you’re going to be doing your business. It’s completely, if angel AI is like having fifty to a hundred assistants, because every prompt is working.
Yeah. Think about it this way. Think about chat GPT. I hope everyone in our industry is at least, if you haven’t, please get on it. Yeah. AI is here, right? It’s the future, but it’s here. So get to know it really well and that’s my goal. So just like with chat GPT, you have multiple prompts. Each prompt is the client’s last name so I can keep it organized. I’ll upload pay subs and W 2s and say, calculate my income. Then I’ll add the mortgage statement, HOI, and I’ll say create a 1003 for me. I can tell it run a soft check, lock my loan. Like I don’t even have to be at the office,
You’re speaking it into it.
Yeah, you can talk right into it. It translates into a few different languages. I think he’s opening that up. Pavan’s working on opening that up. But it’s incredible. So you literally have an assistant for each file, and prompts are endless.
Virtual assistant for every file. Imagine that. Boy, this must cost a fortune, Nancy?
It’s free.
I wanted to, I prompted you about it.
I don’t get it. I’m like why is it free? Yeah. Yeah. Yeah.
This is free. And that’s the part and you heard me tell a story about how I met Pavan when he was just a kid at his dad’s office and it’s such a great story because. The family is just crazy bright his dad was a chemical engineer, knew math. Pavan was gifted out of God as a dad’s gift for math and he started working on this and he says, dad, when he was a kid says, go figure this out and it’s not that difficult. And Pavan started working on it and people are just going, yes, it is more difficult. And you’ve been doing loans for a long time. I’ve been at this for 50 years. And it’s the same process that we go through and I want to look forward into the future. Now, how do you see you using this, you’ve done 1. 5 billion, assuming that the market conditions are favorable, assuming that there’s loans to be done out there. How do you see this ramping up your business and what are you going to be changing your business strategy to get more business?
Yeah. There’s always going to be loans out there, right? As people fall off the people that kind of the order takers that jumped in when rates were two percent and all you had to do was answer the phone and close the deal. And they’re like, Oh, this is easy. And now they’re seeing that it does take some skill. It does take some talent. It does take some financial experience to structure a client’s financial future together. So it is a little bit more complex and how I’m going to use it, is just as I explained, it’s just going to be endless amount of assistance, and I do send a good portion of my loans to SunWest, but even if I’m not sending the loan to SunWest, I will still use the AI to calculate all that for me and send it back.
That’s so good. That’s the part about this a lot of people don’t realize. It’s a no brainer. You do not have to sell the loans of SunWest to be able to utilize this technology.
No, you don’t. It makes it easier because they already have all the documentation. You could go ahead and say, show me an LE. I want to see what my LE looks like. What are the rates? Show me a rate block at 7.25 and it will show you a rate block. Then you could tell it, lock my loan for 30 days. So it’s like speaking to an assistant and having them do all this stuff profile.
Angel AI also will create websites for realtors on properties have you started using that feature? And has that been working for you?
I have not started the landing page yet because I have a different LOS that I use for that, that’s linked to my CRM, but I understand that it’s coming. I understand the CRM is also going to be coming soon and it will be linked to angel AI. So that should be really interesting.
It just continues to grow and grow.
Yeah, it’s just going to be endless, right? It’s just like the bomb. It’s like when you see something come in, when you’re marketed. Anytime I get any kind of marketing, I think about it for a second and say, how could I apply this? Is this applicable to me and my business?
Yeah. I have the honor and privilege of coaching Emily Farley, who’s the chief lending officer, head of sales at Atlantic Bay and she uses Bomb religiously, even like we’ve got a call set up for tomorrow and I coach her. And she says, Dave, here’s the things I want to talk about and what we can communicate quickly and efficiently through a video is so much more effective and time saving efficient than trying to write it all out. And the other thing that comes with that is the emotional. I get to see you, Nancy, and if I have that, this is the emotional component. That’s why I believe no matter how advanced Angel AI is, I still want to look at Nancy when I’m buying this home, I need that emotional reassurance from you Nancy, that I’m buying the right house. This loan is actually going to get done from a real person. And I think, more and more people are getting leery of technology, but when we can use it effectively and we learn how to keep ourselves in the midst of that transaction by we, you do what we do best. And that’s what you do best. And that is the communication side. I’m bringing about that reassurance. I get really excited about that. To those that are the naysayers out there, what would you say to them?
It’s really unfortunate because if you don’t have the foresight to see that it’s going to, be a majority of how we operate, then you’re just going to be left in the dust. It’s like people who didn’t adapt to the computer. What are they doing now? I don’t think they’re doing loans. No one’s taking a paper. You can’t do it. Like you can’t, like you can’t get the loan done that way. So it’ll be like that.
Yeah, it is. It’s really going the way that the dinosaur, if you’re going to go back away, they’ll processes, heavy laden processes, let the tools and technology work and do it. Nancy, what a delight to meet you. You’re going between two communities. How does that work out? I’m sure some people are saying, Dave, you need to ask her how that’s doing. She lives in Orange County and also does business and lives part time in Las Vegas. how does that work?
It’s nice. I love Las Vegas. I think Vegas is just awesome. But I have a lot of family in Orange County, so I go back and forth. I spend the rainy months in Vegas and when it’s raining in Orange County, I’m in Vegas. And when it’s too hot to be in Vegas, I’m in Orange County. So you’re the best of both worlds. I’m licensed in 34 states so it’s not that I’m only doing business in California and Nevada, but I love it. I like to move around. I don’t think we were meant to be in one place.
No, I agree too. Yeah. I lived in Orange County and that June gloom would seem to be July gloom as well, that was a part I never got used to. I’m going. Marine lane lasts till three. Southern California. You experience that at five o’clock when it all burns off, finally goes away. But what a delight to meet you. It’s just a joy.
And thank you so much. so much. for having me. It was great to talk to you and I look forward to talking to you again soon. Yeah,
And congratulations on your success, $4 billion over your whole career that I just saw the number up here and I go 4. 5 billion where you’re at now. 4 billion over your career. Wow. Wow. So nice to talk to someone so successful. Thank you so much to you. And let’s stay in touch.
I would absolutely. I look forward to that. Thank you.
Thank you.
Important Links
A seasoned finance, marketing and operations executive with more than 23 years of experience in the mortgage industry with a proven track record of connecting with clients and top-producers from all walks of life while successfully analyzing a company’s business goals, identifying potential opportunities, developing innovative and cost-effective solutions for enhancing competitiveness, improving customer service and ultimately increasing profit.
As the Co-Founder of Amerify, the #1 team at E Mortgage Capital for three consecutive years, we have achieved many great things. Not only a funded volume of over $1.5 billion but also a flawless platform which allows top producers to thrive and dominate. Always seeking licensed Branch Managers, Mortgage Brokers and top-producing Loan Officers who are ready to join our platform to build their future on. Please contact me directly to learn more.
As a mentor, able to groom and develop the strengths of others to build effective teams that achieved and surpassed key deliverables. Advised numerous finance, technology, and non-profit companies to satisfy stakeholder’s needs and objectives. Exceptionally motivated, passionate, persuasive, articulate and competitive by nature, however not with others; with myself. Possessing the ability to set and surpass personal goals and those set by upper management while obtaining the greatest reward of all, the referrals of existing clients and recurring clientele with over $4 billion in closed transactions in my career. I love what I do and my clients know it.