Lykken on Lending

[David] The world is changing out there. And guys, Marc, you and I are both at the 73, 74 year old age and things we’re not going to recognize this industry as we’ve known it for years here in a very short amount of time.

[Marc] I’m not sure I recognize it now, David.

[David]Yeah, it’s true where we’re doing so much.

[Marc] We’ve seen so many changes and so many of them are good. And so many of them are bad, but we survived and we always will. And homeownership still going to be at a core of this country. And I got faith that we’ll make it work, but I will tell you one thing that we need to pay more attention to in some work I’ve done recently, and that is we need to pay attention to our costs more than we are. I got a call from a title company today and a friend of mine knew him and he said, you need to talk to these folks, so I talked to them and they’re a title company that’s in 35 states and they actually have a program. Where they don’t charge any of the BS fees. So, the average customer on their title expense for a closing saves $700-$1,000 against most of the major title companies. They’re underwritten, but one of the big boys. But this title agency, they’re happy with the commission on the title policy, and they’re not charging all the BS fees. And I said, how long does it take for somebody, a title company, come out of the blue like that to turn around and give back now. I know why they’re doing it. They’re doing it because they’re not getting any business. They want to get more business, but I think there is sincere about it for the reason they’re trying. They’re trying to help homeownership now in tough times with high interest rates, and I won’t mention her name, but I’m saluting them for what they did, and I’m probably going to give them some business if I can. I can’t direct title, but I can certainly that people know they can get a cheaper total cost to get the title done with these guys. And I was just totally blown away to that call today.

[David] That’s encouraging. Yeah. Thanks, Marc.

[Marc] We need more people to step up like that.

[David] Yeah. Any insights or any thoughts on servicing that you’re seeing the headlines that you’ve been reading lately? I know you’ve been so busy one running this one company recently. Anything else?

[Marc] Not in the headlines. So I think I mentioned last week, the title one, thing with HUD coming up again, and Ginnie Mae, that’s going to be good for us if they work the bugs out of it and it comes across also. I think the biggest concern I have right now is, believe it or not, where we don’t see it necessarily in the AI side. In the servicing side, we continue to see vendor consolidation for the big boys, and anytime you have the vendor consolidation we’ve had. There seems to be like monopolies on prices and the cost goes up for the services because, a lot of times there’s acquisitions are driven by investment dollars that people put in the company and they got to get those returns. And then they increase the rate and it costs everybody. So I’ve watched some basic fees that have in the last five or six years that have doubled for servicing, particularly in the default arena.

[David] we’re going to be seeing a lot of changes coming up in this year and into next as some pretty dramatic changes. Marc, thanks so much for being here.

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Marc Helm, CEO, and Author

Marc Helm serves as a Principal Partner at Transformational Mortgage Solutions, bringing over 46 years of extensive experience in the financial services and mortgage banking industry. Currently serving as the President and CEO of both ReverseAmerica Advisors, Inc. and Mortgage Consultants of America (MCA), Marc has established a proven track record of leadership and accomplishments, both within and beyond the mortgage banking sector.

In his notable role as the former President and Chief Executive Officer of Reverse Mortgage Solutions, Inc. (RMS), Marc played a pivotal role in steering RMS to become one of the largest Ginnie Mae Securitizers, originators, and servicers/sub servicers in the reverse mortgage industry. His influence has reached various key positions in the industry, including serving as Chairman of the Mortgage Bankers Association (MBA) Loan Administration Committee and Chairman of the MBA Technology Committee. Recognizing his expertise, he has been honored with memberships in prestigious advisory boards such as the Fidelity (LPS) Information Systems Mortgage Servicing Advisory Board and the National Reverse Mortgage Lender Association’s (NRMLA) Board of Directors.

Marc’s commitment to community involvement and philanthropy is evident in his roles as a Board Member of the American Heart Association (AHA), his past chairmanship of the AHA’s “Open Your Heart Campaign” for the Paul “Bear” Bryant National Coach of The Year Award, and his service on the boards of additional organizations such as The Helm Foundation. His dedicated support extends to various causes, including initiatives for children, veterans, military service organizations, and the welfare of homeless mothers and children.

Marc’s dedication to philanthropy is complemented by his prior involvement in various committees and campaigns, such as his role as the Former Chairman for the Houston Area Special Olympics Campaign and Former Chairman of the Houston Area United Way Campaign.

Beyond his professional achievements and community engagement, Marc Helm is a family man, celebrating 49 years of marriage to Sallie Fortner Helm. Together, they have two children, Thomas Charles Helm and Dr. Jean Ann Helm Allen, and five grandchildren. Holding a BS Degree (Summa Cum Laude) and an MS Degree from Troy University, Marc showcases his commitment to education and continuous learning. Currently pursuing a PHD in Organizational Psychology, Marc Helm’s multifaceted expertise, leadership roles, and philanthropic contributions make him an invaluable Principal Partner at Transformational Mortgage Solutions and reinforces his active role as a Co-Host of the “Lykken on Lending” Podcast.