[David] So let’s talk a little bit about production. Mr. Kittle, back to you. I’m hearing that production, it depends on there’s companies like Marc was talking earlier. He’s challenged with the growing in rural America. I’m hearing other companies are having modest growth and in a couple are because of how they’re focusing are doing really well. But others are off your thoughts on that and then let’s go around the horn and get everyone’s feedback.
[Kittle] I’ll do that quick. It’s geographic. Okay. It depends on where you are. Midwest right now is pretty good. California, the Northeast, maybe not. Marc can speak to rural areas. Rural areas are tough, but Midwest is pretty good right now. I think it’s a geography. It depends on who you talk to and where they’re located.
[David] Yeah, it’s really geographic. It’s geographic. And I think somewhat is the programs and the mindset and the attitude that you have. It translates throughout the whole organization. You got a negative mindset, it translates, but there aren’t market conditions like what you’re facing, Marc, where it doesn’t matter if you have the best mindset, the problem you’re caught in a product issue as well as overall conditions there where you’re at your thoughts on what you’re hearing, because you represent more than just yeah,
[Marc] I think it’s rural South to a large degree, it’s rural America, but I’m seeing the tendencies in some of the small to medium sized cities in the South, like in Birmingham, Alabama, or Tuscaloosa, Alabama, or Columbus, Mississippi, or even a little bit around Memphis, Tennessee, some slow down in volume, and so as you go over and some of the areas in northern Florida, Tallahassee and Panama City and then up to Columbus Georgia, so it’s some medium sized cities and the market’s kind of slow, too. I think it’s going to rebound, but I think everybody was thinking we’d have a break of about a half a point or something to help it rebound, and we haven’t seen that, and that’s going good. But I’m going to quit talking about that, and I forgot to say something earlier, and I’ve got to say this. I’ve got a good idea what Starbucks can do guys and gals, they can open branches and all these vacant bank branches that are open to have all the space. We got all these money center banks. All the big names. I got these 15 to 25,000 square foot branches with three people working in them, open a Starbucks, possibly bring new customers in. I think it’d be a good deal. I’m serious.
[David] If you look at Capital One, they talk about doing that very thing and the branches they’re redoing them more to be coffee centers and places where people come into socialize and then they hope to get their deposit. So you’re not crazy with that idea, Marc. It’s a Capital One is actually…
[Marc] The bank’s paying for the space already. They ought to try to get some of it back,
[David] Yeah. That’s the money back out of that Starbucks, a great deal. Mr. Bill, you’re with a bank, you’re managing a bank production operation. What do you see as far as production?
[Bill] It’s even within a small geography with a community bank. It’s still hyper local, some segments of the market are doing okay and some are really quiet. So there is no answer, but, and then also to you. Marc’s point, right? So Capital One in Richmond has had a Capital One cafe for, God, at least the last seven or eight years.
[David] Yeah. I tell you, we’re seeing a shift in the way business is being done and it’s going to be happening in the mortgage industry. One thing is for sure, what Doge is doing, every mortgage lender should be doing is examining your costs and absolutely doing what’s necessary to reduce costs, it’s make sure you’re cutting out the fat and not the bone and your muscle and bone because when you get the muscle, you’re then compromising bone. That’s an old expression, but what does that mean? We’ll have to talk more about that as I’m looking at our time, but we got to move on. So thanks guys for your commentary, by the way, Alice, we’re wishing you were joining in on the conversation. I always miss your commentary when you’re here. Let’s see, Mr. Kittle, you’ve got the TMC conference coming up in Dallas. Let’s give a quick promote on that. Sounds like you’re going to have a good attendance there and a good lender to vendor ratio. Talk about that quickly for our group.
[Kittle] That’s March 16th in Dallas. We’re looking forward to it. We’re out in the Arlington area down by the stadium and a new area where they’ve got a lot of new restaurants. We’ve got we’ll have well over 300 in attendance and our ratio will have more lenders than preferred partners which preferred partners love to see. So thanks.
[David] We prefer partners who are there. Love that. We got folks, the lenders. One they’re saying, I haven’t seen the list yet, but what I’m hearing and I believe them is that they’re also having a decent intense. What’s so unique about this one? It’s offshore. It’s in Cancun. Now, nice place to go. I’m struggling to get a passport. Renewed, they lost it folks. So imagine that someone said, anyways, Kittle said, that’s a doge event. Did they lose it? Because the guy that was handling my passport renewal got let go. We don’t know, but I gotta go make a special visit to the state department to get my passport so I can make it to Cancun on Friday or the upcoming conference, but anyway, a lot going on the market. Thank you, David. Good luck on your conference. I’ll be there. Looking forward to it very much. I love both of we’re grateful for the co-ops and what’s going on.
David G. Kittle, CMB is a highly respected leader in the mortgage industry, with over 45 years of experience. He is the Co-Founder and Chairman of The Mortgage Collaborative (TMC), a mortgage lending cooperative providing members with access to resources and tools to improve their business operations.
Kittle began his mortgage banking career with American Fletcher Mortgage Company as a top-producing loan officer in 1978 moving to the management side in 1986 with Southmark Mortgage. He opened Associates Mortgage Group, the first of his three lending companies in 1994.
Kittle served as MORPAC Chairman for MBA, from 2004-2006. He is past President of both the Louisville and Kentucky Mortgage Bankers Associations, as well as leading the industry through its most tumultuous period as Chairman of the Mortgage Bankers Association, Washington DC in 2009. Kittle has testified before congress 14 times.
Kittle has been a driving force behind the growth and success of TMC, working to bring together mortgage lenders from across the country to share best practices and collaborate on key industry issues. Kittle has also been a vocal advocate for innovation and technology adoption in the mortgage industry, urging lenders to embrace new tools and strategies to improve their operations and better serve their customers.
Kittle is a frequent speaker at industry events and conferences, sharing his expertise on a variety of topics related to mortgage lending.
He resides in Louisville, Kentucky, he has four children and two grandchildren.