[Allen] Hey David, it is great to be here today. I'm so excited for the mortgage bankers annual conference. You messaged me earlier saying how much fun it is already. Great people, great content. Unfortunately for folks that I was hoping to meet, we'll have to chat next week. I wasn't able to make it. I had some duties with my daughters over at their college to visit. So let's talk about a couple of quick things and then I'll just leave you with a big note in a way to think about all the content and the vendors that you will be meeting with. First, I want to talk about something AI, really interesting. There's a photo circulating around the internet where they say an old picture of someone working at McDonald's was taken and Kamala's face was put on that picture whether it was done with AI or Photoshop doesn't matter It is a deep fake of nonetheless and it is the type of thing that you will have to start seeing or have seen all Over the internet. So check that out. I'm sure most of you have seen it, but it is circulating online Then David, a lot of people are using AI for marketing and it's really interesting. I keep getting messages on LinkedIn that are clearly done by an AI engine and I'll tell you in a moment how I know. Asking me if I want to join their team as a loan officer, as a branch manager. I get about two to three a week. I even get them asking if I want to start my own business. What they're doing is these AI bots are reading profiles, they're searching and reading based on you having your profile open to public access and then what they're doing is they're creating content, cultivating messages, and automatically marketing you and looking at your response rate and putting you in their database or CRM. So I stopped looking at these, opening them and responding to them. But the one I received today, asking me if I wanted to be a loan officer, had a lot of mistakes in the email, including extra spaces between words and extra formatting between sentences. Clearly the template wasn't well put together or the AI engine made a big mistake. But anyways, let's chat about one item I saw in the news about NBA national. Now I know there's a lot of people and a lot of press releases. We can talk about some of them next week, but this one was great. It is my old company, actually loan logics, and it looks like they just completed or they unveiled their LoanBeam technology integrated with Fannie Mae's Self Employment Income Calculator. So hats off to LoanLogix, I know there's a bunch of other people, I saw LoadStart had a nice event, a mile high event yesterday, and a whole bunch of other ones going on there in Denver. The LinkedIn posts look great. So good luck there. Now, if you're looking at vendors or you're looking at ways to manage or work with your tech stack, you're going to see a lot of things walking around NBA national. You're going to hear a lot of things. You're going to hear about everybody powered by AI. You're going to hear about the new shiny penny. Be careful in what you believe from marketing and from conversations, make sure that you have a multi step approach at looking at these things. Get that information, set up the demo, schedule time for the right team members to look at these solutions when you get back to the office. But more importantly, you need to go back and look at that strategy and understand how what you need or what you're thinking of fits into your tech stack. And if it solves a problem, How many of the problems you're looking to overcome? Does it solve in where in the hierarchy of your existing problems? Does it fit? Obviously there's other great things about updates in technology, clearly being able to consolidate technology. Consolidate your costs, consolidate staff. And I don't mean to let staff go. To consolidate where we're working too hard and could be working smarter, but great solutions, great things to hear. I'm excited for feedback. And have a great time at NBA national. I look forward to talking to you all next week. Thanks, David.
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.
