04-18-2022 Weekly Updates With Alice, Allen, Matt, Les, And Rob

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The first half of the Lykken on Lending program will feature our Weekly Updates….to read more info about our regulars and weekly updates go to our website!

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Weekly Updates With Alice, Allen, Matt, Les, And Rob

I’m so glad you’re here with us. We get to talk to thousands upon thousands of mortgage professionals and people involved in the real estate finance industry in one way or another, and it is such an honor. For many of you, it is a happy day. We’re glad to be here with you and share this show. This is another informative episode with you.

This show is created by mortgage professionals, not only podcast veterans. I guess we are podcast veterans. We’ve gotten better at it, but we’re mortgage professionals, for mortgage professionals, and we’re grateful to have you. We say that each and every episode, but our commitment to you each episode is to bring you timely information that you can read anytime and anywhere.

I was listening to a book by Patrick Lencioni. You hear me refer to him all the time. It’s called The Motive. It’s a great book. You need to get the book from Patrick Lencioni. If you’ve read it, go back and read it. It’s such a great book. I listened to it on Audible and I listened to it at about 101.4 speed. I get through books a little bit faster and my retention’s better. They say they did a study. If you talk quickly, as long as you put a pause in there once in a while, your retention rate goes up for those of us that speak faster.

I don’t know if it was a fast talking speaker like myself that did say that, but anyway, it’s good to have you with us, everybody. In this episode, on the Hot Topic segment, we’ve got Troy Anderson, Director of Mortgage and Lending Solutions at Finastra, and this is more than just a sponsor. They’re doing some leading things with financial institutions. They’re becoming more of a one-stop shop for mortgages and he’s going to explain why when we get into the Hot Topic segment.

“I don’t use Finastra. I’ve got Ellie Mae,” or “I’ve got Black Knight.” All are great systems, but isn’t it interesting to hear what’s going on in technology? We’ve got Allen Pollack. I’m so excited to him in the house. He’s going to report back from Las Vegas, where the tech conference took place. We’ll get a report from him a little bit later on, but we’re so grateful to have you as our reader.

We’re proud to be a part of IndustrySyndicate.com. Check out all the shows there. I got a couple of calls from PR firms. One is a leading PR firm in New York and they said, “We’re regular readers. We’re not mortgage professionals, but we advise companies on where to best advertise and where to get their message out on.” Your show, Lykken on Lending, and your regulars, “You’re funny, but you’ve got some great guests.” I go, “I’m going to take that.”

We also have some great sponsors. I want to say thank you to the Mortgage Bankers Association of America. We’re so grateful for our relationship with them. If you do not have the Mortgage Action Alliance app downloaded on your smartphone, do it. Have your voice heard in the hills? MBA’s doing the best job they can to help with what’s going on. Also, they sponsor some great conferences like the one they did, the Tech Solutions Conference and Expo in Las Vegas. We’re going to get a report on that.

Also, Finastra, and Fusion Mortgagebot web solutions manage, store, retrieve, and deliver files in an electronic format in a completely paperless environment. It’s going to be what Troy Anderson is going to be talking about a little bit. What are other trends there? You should pay attention to it. If you don’t use Finastra or even if you’re not looking at another solution, learn what the leaders are doing. The number one FinTech company in the world didn’t get there because they do stupid strategies. Pay attention to what Troy has to share.

Also, Lenders One. It’s great to have them as a sponsor as well as The Mortgage Collaborative. These two coops are two great ways for you to connect in a more intimate setting with other lenders and vendors that bring specific solutions. They do not negate the importance of being a part of the MBA, but these two coops will help you connect with others. We’re members of both. Others are members of both. You should pick one or the other, at least, but I encourage you to maybe be members of both of these.

Also, Total Expert is the only purpose-built CRM and customer engagement platform to create growth and loyalty for modern lenders and financial solutions. Also, they have a great solution when it comes to recruiting. Everyone’s calling us, “I hear you got a great recruiting program.” I do have a really good recruiting program that works well and it needs to be powered by a really solid CRM. Total Expert is the one I recommend, not only because they’re a sponsor, but because it’s good.

Go read the blog that we did with Joe Welu. Joe did a great job talking about his vision and where things are at. Also, Knowledge Coop is a great way for you to connect with your community. They’ve launched their new product. We did a special episode on April 1st and Ken Perry laid out their vision. Check it out when you go to our past episodes. As well as Mobility MMI, Mortgage Market Intelligence and also, and Modex, which is also a competitor.

They’re competitors, but they’re a great complement to each other. If you’re recruiting and looking for intelligence about who you’re recruiting, you need to use both of these apps or at least one of them, you should have both of these in your pockets because each of them is complementary to the other and they do a great job at helping identify who’s going to be the right fit for you in your organization.

Also, we have a relationship with Snapdocs working backward from the future, where everything is closing in a flawless experience. Their aim is to completely eradicate errors from real estate transactions. Did you hear that? Check out the interview that we did with Briana Ings. She got into the vision. It’s pretty amazing. Also, we want to say thank you to SuccessKit. They do a great job increasing your business by telling your story through the stories of your customers. We’re using them for that very purpose.

Also, Lender Toolkit. Brent Emler and Brett Brumley over there at Lender Toolkit do a great job in their technology as well as FormFree. We appreciate them so much, as well as SimpleNexus. We had Lori Brewer on and what’s going on at SimpleNexus? You got to pay attention to this company. It is one of the up and commoners. They bought LBA Ware. They’re out there being very aggressive in the marketplace with a great vision.

We’re thrilled to have them as a sponsor, as well as DW Consulting. Debbie Williams and her team tell you how to set up your LinkedIn profile. To go on and on, we have so many sponsors and we’re so grateful for all of them. A special thank you goes out to Rob, Les, Alice, Allen, Matt, and Jack, my cohost for this episode. Let’s get over to Rob Van Raaphorst with the NBA and the MBA Mortgage Minute. Rob?

I’m Rob Van Raaphorst. Welcome to the Mortgage Minute and the latest news from the Mortgage Bankers Association. FHFA finalized its strategic plan for fiscal years 2022 to 2026. The plan largely mirrors the draft released in February with the same three overarching goals. 1) securing the regulated entity’s safety and soundness. 2) fostering housing finance markets that promote equitable access to affordable and sustainable housing. Three, responsibly stewarding FHFA’s infrastructure.

Weekly Updates: The FHFA finalized its strategic plan for fiscal years 2022 to 2026 which mirrors the last draft. But they removed language that it would seek from Congress the authority to specifically examine non-bank servicers.

However, in a notable revision, FHFA removed language that it would seek from Congress the authority to specifically examine non-bank servicers. The removal of the reference to IMB servicers in the plan supports MBA’s lobbying efforts to remove similar language and draft legislation that could be taken up in the House Financial Services Committee later this spring. That’s it. Thanks for joining me.

Read the interview we did with Brian Montgomery. You’ll find out how important it is and what’s going on. I’ll tell you, that’s a problem we have in our industry. That’s why I also believe in the MBA and what they’re doing with the Mortgage Action Alliance app. Let’s get over to Les Parker with TMSpotlight and a macro view of the markets. Les?

The bear market is not giving up quickly. The battle between inflation and recession camps intensifies marked by big moves both ways. Some expect inflation and recession, which would shatter many dreams of owning a home. Assuming gasoline prices moderate, the year-over-year CPI growth peaked in March. How long will it take for inflation to return to the Fed’s 2% target expected within a year? Look for a close below 210 and a ten-year yield before a close above 310. Ask Matt where the ten-year yield is now. Come on, bears. Quit playing games. These views are my own. Know what the game is at TMSpotlight.com.

Les Parker, good job on that. It was a good view. Check out TMSpotlight.com. To subscribe for free to the paid newsletter, use the word POWER to get signed up. Matt Graham is here in the house, Mr. Excitable. He’s the Founder and CEO of MBS Live with the market update. Matt, how are you doing?

As far as asking Matt where the tenure is, this is the best one with the market and company’s profits. One saving grace is that MBS has been outperforming at times during this move, largely due to curve steepening. That is, for instance, the two-year hasn’t been moving higher as quickly as the tenure, or at least that was the temporary trend that has taken root and is responsible for the curve steepening back up to 40 basis points at this very moment after being inverted a couple of weeks ago. There are big changes there.

The holiday-shortened week was a crazy one. It tends to be somewhat more volatile than your average week simply because you have less trader participation and less liquidity. Some traders are rushing to make adjustments or to square their positions ahead of what’s expected to be a light liquidity day on those early closed days before three-and-a-half-day weekends. That may have contributed to some of the drama.

We also had the e ECB announcement, the European Central Bank, and there’s a bit of a paradox because the market read that as being a little bit more dovish than expected. In other words, the ECB isn’t tightening as aggressively as the Fed and we can see that in the form of the Euro weakening in the wake of the announcement and the press conference.

The paradox is this. Is that if the Fed is tightening policy to fight inflation and if inflation is a global phenomenon, if foreign central banks aren’t doing as much to fight inflation, that can leave more pressure on the Fed to tighten policy to try to combat inflation. That’s the paradox. In other instances, we might see more unified moves between foreign central bank policy and rates in the US as they react to common economic problems at home and abroad.

If foreign central banks aren't doing much to fight inflation, that can put more pressure on the Fed to tighten policy to combat inflation. Share on X

If Europe isn’t doing the heavy lifting, it leaves more heavy lifting for the Fed to do. At any rate, no pun intended, the middle of last week was fine and even a little bit resilient, even a little bit hopeful. Thursday was brutal, taking yields up to new long-term highs and all of this after a decent treasury auction cycle and a very light corporate bond issuance cycle. It basically is another example of several days of hopeful consolidation being erased by one massive day of selling.

We’ve had that happen three times in less than a month as long as it continues to happen from a strategy standpoint. We have to continue to remain offensive and there’s nothing in the immediate future that suggests we’re waiting on some singular event to undo the damage. It’s something the market is going to have to show us and we’re going to have to observe.

As far as the nuts and bolts coming up, we do have fairly light data. It’s mostly housing-focused. The Builder Confidence is already out in line with expectations. Housing starts tomorrow. They’re expected to be in line with the previous reading. Existing-Homes are expected to fall only a bit, but still in the strong historical territory. Philly Fed is not a housing report but the most significant report. It’s expected to continue to show expansion but not at quite the pace of the previous month.

Friday’s pretty silent with Market PMI, not ISM PMI, but market PMI the lesser of the two versions. With that economic calendar, it leaves us to watch technical levels and watch any momentum shifts that may try to take hold again. Even if that were to happen tomorrow, I, personally, in this market, would want more than four days of resilience and a bigger showing of it than we’ve had before I would get too optimistic about the ceiling and rates point.

With that said, the higher we go, the faster we get there. With each new day of a massive selloff, we’re that much closer to the ceiling. We don’t know where the ceiling is, mind you, but the higher we go, the closer we are to it. I realized that’s not much of a consolation to anybody, especially not when rates are as high as they are, but it is technically a thing. There’s a limit to how big the ceiling can get.

If you do want some legitimate analysis on that front, I would say the market’s waiting to see a shift in inflation before they can hone in on how the Fed policy response is going to evolve. As Les was saying, there’s a struggle between managing inflation and crippling the economy. People are curious whether the Fed can thread that needle. They may have been close to doing it in 2019.

We’ll never know because of COVID. It seems like it might be challenging as far as some people are concerned this time around. The Fed seems to think it’s not going to be as challenging. Any Fed speaker has said they can engineer a soft landing, but I think the jury is out on that and markets are a little bit nervous about it until they see what’s what.

Lenders are nervous about it. A lot of people are nervous about it. Good job, Matt. Let’s get our cohost on here and get some thoughts on that. There are so many things rolling through my mind as we’re thinking about it, but Jack, I know you are an avid follower of the markets. Is there anything you want to ask Matt?

First of all, David, I believe that you talk faster than 150 audible words per minute. There are times when I literally feel tired after listening to you roll through the intro of the show. We comment a lot on Les Parker’s numbers that he throws out. I’m certainly hopeful that the Fed actions that we’ll see here over the coming months can reign inflation back into the Fed target rate of 2% to 2.5% by the end of the year. Les, I hope you’re spot on in that one.

To Matt’s comments, I’m hoping this is going to be a rather benign week in the market. I called this the regional Fed President Speak Week, and all the regional Fed presidents have various opportunities to make comments to the marketplace. Hopefully, those are sound and thoughtful and we don’t see anything driving off of those. This is a big earnings week on the equity side of the market. Just go down the list of things that are tending to be a drag on the marketplace and we’ll see how that impacts earnings.

A big week is coming. Many lenders are hurting on the earnings front. With the amount of money that was lost in the first quarter, people aren’t reacting. We could be having ourselves, in the 3rd and 4th quarter of this year, some of the biggest bloodbaths in the industry. I’m concerned that it’s going to force a consolidation in the industry.

We want every one of you to prosper and do well, but many of you are struggling with taking the appropriate action to right-size the P&L to get it to the point where your expenses are in line with the deteriorating earnings. It’s the way it is. We’re hoping for the best, Matt, but I hate to say it, you here in the process of delivering a lot of nervous news, it does not seem terrifically negative, but you do a great job of delivering the news back well.

The saving grace is that purchases remain strong and tend to remain much stronger than refis. Even if you’re not doing a lot of purchases right now with the volume of those that are coming into the market, that sets us up for another refi boom whenever rates eventually correct. I would not expect them to remain this high forever. I don’t want to put a timeframe on it. It could be months. It could be a couple of years, but likely nothing more than that. There should be refi opportunities even if we’re waiting for a bigger bounce in a few years. At some point, there will be a smaller bounce that provides a good amount of opportunity between now and then, most likely.

Purchases remain strong and tend to be a lot stronger than refis. Share on X

We need to have a podcast just on the strategies’ profitability. We’ve got a refinance company. A client that does nothing but refinances and track actions. It says everyone’s gotten discouraged and left that space. Our volume and profits have gone up. Refinances are not dead. It’s what’s driving them. It is what they pay attention to.

One thing to keep in mind, the longer we stay in this higher rate cycle, the more profound the next refi boom will be in the marketplace.

Also, get signed up for MBSLive.net. It is the best service out there that gets you so much data in a meaningful way. It’s the best tool out there. You could sign up for the extended trial period without a credit card by putting in LOL as a signup code. Be sure to do it. I appreciate you, Matt, for being here each and every week.

You bet, Dave. Thanks for having me and I appreciate you too. Have a great rest of your week.

Alice Alvey is a good friend. How are you doing? I love Alice Alvey and her husband. They are the most wonderful people and I’m so grateful to have you in my life. Alice, what have you got for us?

It was so interesting listening to you all talk about the rates because we’ve been talking a lot about that as an industry. I was looking at the numbers and we have had a 2% jump in interest rates between November 20, 2021, and then now in March of 2022. We’re up at 4.6%. That’s ’11 to ’20 to ’22. That’s still over a year in that movement, which does mirror as people keep talking about what happened in ’93 and ’94, but that jump was similar over about thirteen months.

To your point, we’ve got to take a good hard look at how business is and how things are going. Since you brought up books, I’m going to recommend a book for everybody called Oh, Shift. You can read this book in two hours. There are some pages with eight words on them. When you have one of those, “Oh my gosh,” really rough times are going on, or this thing happens and you say, “Okay. I’ve got a shift.” It’s a fun read for that. I wanted to point out that fun read-out.

Oh, Shift!

When you listen to the MBA Advocacy Update, it reminds us of what happens in this type of market. The good news is back in those other rate problems and other industry problems, we had legislation on top of us. We do not have that now. We don’t have Congress looking to impose a lot of regulations. We lived through all that. What’s happening now is we have to watch CFPB very closely, but as they come up with different things like, “Are we charging too much in fees,” we now have all of that revised TILA to fall back on as our defense.

Kudos to the MBA. Read their Advocacy Updates that came out and you’ll be able to see several of the things that they were able to accomplish to help stem some of the overreaches that CFPB can occasionally have. We’re watching that closely, but I think the only rule out there that is just a heads up on is HUD does have a good one coming out trying to get that we can do a 40-year amortization in servicing. We need to recast loans.

Fannie and Freddie offer that. HUD’s asking to be able to do the same thing. The comments on that are due by May 31st. This is a quick, easy one for the industry to jump in. Go to the Federal Reserve page, look up HUD and you’ll be able to find this sub to comment on allowing the 40-year piece. The other normal phase that comes around is the VA sending in all of its forms. Is it okay if we keep using this form? It’s part of the Paperwork Reduction Act but what I find interesting is here comes to the VA loan analysis.

I think the form’s been identical since I started in the industry. They’re still asking, “Is it okay? Do we have to make any changes,” and nobody comments. We have had the same form for many years. If anybody is going, “Why does this form look so archaic?” You want to comment, “Do we need an age of dependence anymore?” That’s only a few fun things that are out there but to get a new perspective on them, read the book, Oh, shift. Back to you, Dave.

I’m going to go download that book as we get done. It is such an important one. There’s such a need for a shift in the marketplace right now and people are not doing it. Thank you, Alice. By the way, I should always say Alice is CMB Vice President of Education and Training at Union Home Mortgage, also known as Bill Cosgrove Mortgage, as we refer to it. We love Bill and the whole team there. What a great company. Alice, thank you so much for being here.

Another one I’m going to share with you folks is I know of a company near and dear to me. I care about it deeply because the owner of the company is the only signer on the accounts and he had a major health issue and he is incapacitated, unconscious as in a coma, and what it is causing for this company. Be sure to check through and see who the signers are. What happens if we have an issue with the primary owner or the primary person?

It comes down to such an important issue and sometimes, it’s overlooked. It’s shocking, I know, but there are companies where that’ve been around forever, family-owned, and the primary shareholder. The number one shareholder does not get anyone else on the account. It’s creating a real crisis here. We’re going to get through it with them. We are helping them through it, but only to remind everybody, who’s the signer in your account if something happened to you, God forbid. Make sure that gets done right and set up correctly. Let’s get over to Allen Pollack, who has an update from the Tech Conference. How was it, Allen?

It was great. One, we’ve all been back to some conferences now. There were still some folks that it was their first one back out. It was good to see people. It was plentifull of meetings to the point where people were stopping by other folks and trade show booths asking, “Can we meet with you?” The meeting areas were completely busy. There was a lot of good collaboration. I didn’t see a big turnout from lenders there. There were some lenders that wound up bringing a lot of people. You also have some folks that come for networking that don’t register to be inside because a lot of meetings occur outside of that. Otherwise, David, it was great.

Some of the topics we heard were things we’d heard for a long time. Continuity of process, automated underwriting, intelligent automation, data hydration, liability, and asset analysis. What’s happening is it seems that there are a lot of document OCR vendors. A lot of technology companies have embedded OCR for great reasons. It’s available now. There’s a Google platform. There are five different companies alone that I could have found within 20 minutes that do OCR, but a lot of people have embedded their own solutions.

Folks are ingesting documents and verifying and validating data and documents. A lot of people are working to automate the things that are the most costly. Forget the digital mortgage concept that we keep talking about every year. Even a few years ago, what we thought of as digital mortgages, that’s off the table at the moment. We’re focused on how to move things faster and more intelligently. How do we spend money to get a return on investment?

Forget about the digital mortgage concept because that's off the table right now. We need to focus on getting an ROI on our spending. Share on X

Can we automate the income analysis and remove all of the human need and the error that happens? I’m hearing asset and liability analysis. The question becomes, and this is what other folks have said to me. “You pay for all this technology. How do you know that it’s all working together and you’re saving money or are you reviewing things that still have to go to somebody?” You may save them some time, but does that time equate to enough to X amount of more files per day? Did that only really work when our rates were a lot lower?

A lot of people are confused about where to spend their money right now. As I continue to go down, some of the notes I have from the conference, David, there are companies like Candor. A couple of years ago, they had one or two clients. They stated now that they have $1.5 million loans that they’ve done automated underwriting that went through their platform and they’ve had zero repurchases come back from any of that. That’s fantastic, but it’s not replacing underwriting. It’s for the front end of the funnel.

That’s fantastic. Does it necessarily save you? It depends on your process. Maxwell put out what’s called the Processor Edge. As a processor, you don’t have to be in the MLS. You can work inside Maxwell. You can work on conditions and notes to underwriters by directional sync. You can drag to create tasks. There are a couple of companies like HouseCanary that are working on getting more data on analysis, AVMs bringing information to the consumer and the loan officer about that property and helping to engage.

You may not be ready to fill out an application as a consumer, but there’s no reason why you can’t be engaged with your mortgage lender upfront working on properties and able to get better information. HouseCanary does a good job of that. They have a 50-state brokerage behind them, so they’re consumer-centric. They have tons of data and do valuations.

David, this is the biggest announcement, which is cool. When I said, “Forget digital mortgage. I didn’t mean that. Just for the moment, but we are also focused on eClosings. ll the things that got delayed or pushed ahead from when COVID started, MISMO worked with Snapdocs. A fantastic website. It is completely free, by the way. You do not have to pay for it. It’s called eee.MISMO.org. You can go and put in your ZIP code of where you’re buying a property or where you’re helping somebody. It tells you not only who will service those digital files but can you do eNotarization. Can you do the county recordings electronically and with counterparty requirements?

It gives you everything you need, even settlement agent readiness for every single ZIP code in the country. There’s a bunch, half a dozen to a dozen data collaborators, that are providing data to MISMO in this effort and they’re looking for more. The data’s highly accurate and very interesting. You want to check that out, but that was probably one of the coolest things I saw. You got a bunch of other things.

People are cross-checking and collaborating on data. That seems to be a common thing that I’m hearing about. There’s a brand new LOS on the market. A gentleman from Blend had exited, raised $30 million, and started this new LOS called Vesta. I think it’s still in its infancy and when he was on stage, Julian Hebron had said, “The elephant in the room is, why would you want to start an LOS company?”

That was one of the conversations which are interesting. As you continue down into some of the other demonstrations, SimpleNexus illustrate a bunch of things that they have going on, especially their LimeGear product, which is by LBA Ware, now a SimpleNexus company. Richey May had a bunch of things about analytics. A lot of people are focused on liabilities, assets, and income.

People are talking about a waterfall process of income analysis rather than going out to one vendor. People are talking about automatically running compliance and running services and doing things on a task basis. Even looking at things like Mortgage Cadence, BeSmartee, and Homebot. They’re all talking about automation. Pavaso was demoing their online notary. CBC was out there talking about things.

There is so much stuff going on and the question becomes what is a digital mortgage and where is the automation? I saw AI companies. I saw bot companies. David, remember a few years ago, everyone was talking about we are artificial intelligence. I don’t see companies advertising that anymore. I see them talking about automation and reducing friction, but I see less conversation on AI. The big question is, where do we spend money? Where’s the return? How do we move the industry ahead?

There’s an article in Housing Wire that came out. It talks about what some folks had mentioned at the conference, which is, “Are we any further ahead in a digital mortgage or in the industry than we were maybe years ago?” A lot of people are suggesting maybe we’re not. We’re spending a lot of money. We have a lot of little tiny pieces of it, but there’s still a lot of standardization and a lot of things that have to occur to make it happen.

Weekly Updates: Are we any further ahead no in digital mortgage than we were 10 years ago? We have tiny pieces of it, but a lot of things still have to occur to really make it happen.

It sounds like the most interesting thing that grabbed your attention was MISMO and Snapdocs and what’s going on there. Snapdocs is an advertiser with us and I am thrilled to hear that.

By the way, it’s still taking 40 days to close a mortgage. We haven’t reduced the cycle time, but we have a lot of talks and new technology. You can’t just implement tech, Dave. You need staff. You need people. You need vision. You need a strategy. You need execution. You need all these wonderful things. The question that becomes is what do we now focus on and what do you push through the door and how much money can you spend on that?

We can talk more about that next time because I’ve got a list of things and I think the five things I think we really should focus on, and I think a lot of the folks on this show will probably resonate. They’ve made some accomplishments, but a lot of projects never made it over the goal line. They maybe made it to the red zone, but they haven’t been able to score that touchdown. They’re left trying to still spend money and figure out how to get it implemented and how to make it into a successful venture.

Why would anyone start an LOS right now or build a proprietary LOS? It doesn’t make sense. It’s gotten so much more complicated. I’ve done it twice a long time ago. It’s crazy, especially some great companies out there like your company, like Finastra. There are a lot of great companies out there. I heard it was 80% vendor and 20% lender. Could you validate that? Is that true?

One hundred percent true, but I got to tell you, even for myself, I found potentially 3 to 4 new relationships that I need to integrate or connect with to provide to my clients. It was still a very successful conference. The waters are muddied. Everybody’s talking about the same thing and you wonder who’s good and who’s not good at certain things. Some people like apples and some people like oranges. They’re both rounds. We’ve got a lot of round technology and we got to figure out what we like.

It’s consolidation within the tech space and it knows that it can happen as it happens throughout the lender space. I can’t wait to get them out in your report next time. Be sure to come back next time, folks, and learn from all that Allen has to say. Send me your questions or send them to Allen. You can send it to Allen@TMS-Advisororders.com. Thanks, Allen. I appreciate you being here.

Folks, that ends the Mortgage Update. Next time, we’re to continue down the theme of that. The company that Allen used to work for is Fiserv. We’re going to have Christopher Brown come on and share some of the thoughts. We’re looking at the financial institution, especially when you look at where the market’s heading and the bigger role that the financial institutions are going to be playing, especially with the HELOCs, as Troy was talking about. We’re going to have Christopher Brown on to talk a little bit about from the perspective of Fiserv, Allen’s old turf. I’m excited to have them on.

Let’s get over and say a big thank you as we exit out to our sponsors, Finastra, Lenders One, Mobility MMI, Modex, The MBA, Knowledge Coop, the Mortgage Collaborative, Snapdocs, SuccessKit, Lender Toolkit, Total Expert, FormFree and SimpleNexus. It’s so good to have you with us, everybody. I look forward to having you back here next time with Allen’s update on technology. It’s a continued update. I can’t wait for that, Allen. It’s going to be fun. I appreciate you, everyone. Talk to you soon.

04-18-2022 Weekly Updates With Alice, Allen, Matt, Les, And Rob

Weekly Updates With Alice, Allen, Matt, Les, And Rob

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