[David] Let's get over to Allen Pollack. Good to have you here with us, Allen and sorry, Alice could not be with us. Wish you a speedy recovery, Alice. And it's always interesting to hear what you have to say, Allan, as far as what's going on in the world of technology.
[Allen] Thank you, always a lot. So, I was walking the dog dogs, I should say and I thought I heard these two people talking about ChatGPT standing in their driveway and it was two older gentlemen. And as I got closer, I was trying not to make it seem like I heard their conversation there. One gentleman was telling the other gentleman how he uses ChatGPT and it's turned into something he uses every day and when I walked by, he said to his buddy, ChatGPT is so addictive. So, I thought that I didn't interrupt them. I just kept going. I didn't want to let them know I heard their conversation. But you're talking about every different age range people in business, people not in business, everybody is using GPT and I've talked about my daughter in the past how she, uses GPT and one of them is learning in college, a course on how to use GPT. My youngest daughter, who's a sophomore in high school the other day said just GPT it. So the word of Google it, Google doesn't give you good answers compared to what GPT can give you and Siri on your phone is a complete disaster when you compare Siri to actually using the GPT app. So that's why Apple intelligence and Google and everyone's trying to build AI into the phone itself is because once you get used to it, everyone's going to use it. There's other reasons that people don't like it. I'm not going to get into those today, but just GPT, I think is great. Now, David I've got, yeah, no, oh, I do have a dad joke today. Okay. I thought maybe I didn't. Many people argue, should you, or shouldn't you wear glasses in math class? If you do, it'll help with division. Get it? D I like division. Oh yeah. Yeah. Yeah. So wearing glasses in math class will help you with division. All right, let's move on. So, last week I said that we were going to dive into interviews and the awkward showdown when you're pretending that your company has it all together and you're also pretending that they didn't just ask GPT on how to prepare. I, to be honest, I didn't have enough time to prepare for today. So I've got a bunch of mortgage industry updates that I'll share and my segment will be on the shorter side. Mortgage Automation Technologies, David, MAT for short. They just enhanced a bunch of their compliance features. You should check it out. TrueWork that's another company. They just streamlined their verification process. They're saying they now have an all in one platform to do the verification of income and employment, and they orchestrate various verification methods. In addition to that Gateless another great company in our industry, they just advanced their AI integration mortgage processing. So they're saying that their new AI driven solution can now enhance data extraction and process within the mortgage industry. And they say by leveraging artificial intelligence, Gateless aims to streamline loan processing. I also have an update from Blend. They just enhanced their mortgage suite with AI capabilities. They've just integrated what they call advanced AI features into their mortgage suite to streamline the loan origination process and they aim to reduce manual data entry and improve accuracy and underwriting. There's also a great update from SimpleNexus, David. They just launched their e closing solution. It's a comprehensive e closing solution that facilitates remote online notarizations and electronic document signing. The tool is designed to expedite the closing process and enhance borrower convenience. And then in addition to that, David Black Knight just unveiled a new servicing digital solution. So here's what's interesting about all these updates, right? And there's many more updates. Those are the ones I picked for today, but here's what's interesting. Everybody, and you'll see this when you walk by all the vendors. Everyone's doing verifications right now. Everyone's doing data extraction. Everyone's reasoning the data with the documents. Or, we used to say at LoanLogix, we're interrogating the data. We're interrogating the documents. Everyone's doing that. And if you're stuck between what vendors to pick, I'm going to be completely flat out and honest with you. They're all great vendors, every single one of them. So pick a vendor and move on and figure out what it is, how are you going to bring customers in and hold them and sell them on the fact that you're a service to them. And like Mark said before, they're not a number, but they're a relationship, a customer to you and I'll leave it with that today, David. Good. Appreciate it, Alan. Very much.
Allen Pollack
, Chief Operating Officer, Tech Consultant
Allen Pollack, a Mortgage & Financial Services Technology Advisor, is a subject matter expert in the mortgage origination process along with software product management and software development.
In today’s financial services push to all things Digital, Allen has been helping lenders and financial services solution providers align their digital transformation and technology strategies by removing the human element of risk, and automating processes that drive efficiencies and margins into profits.
Over the course of his career, Allen has co-created and developed technology business models that have birthed highly successful, innovative solutions and companies.
Allen co-founded and served as CTO of New York Loan Exchange (NYLX), a loan product eligibility and pricing engine (PPE) that made an immediate impact on the industry, scaling the company quickly and forming partnerships with multiple mortgage and financial lending companies. In 2012, Allen was a co-founder of a merger between NYLX and Aklero Risk Analytics that created LoanLogics, A Mortgage Loan Quality and Performance Analytics company. Allen served as CTO where he continued to bring new and innovative product solutions to the market that made a significant impact to mortgage lenders that reduced risk, scaled business channels, and grew profits in a very competitive and highly regulated market.
Allen is also is mortgage and finance technology contributor on a weekly live industry podcast, Lykken on Lending, and is launching a new podcast soon to be released, TechStack Radio, dedicated to technology and innovation in Financial Services.
