Latest / Mortgage Marketing Radio / Ep #13: NextGen Video Marketing with VidVerify

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Ep #13: NextGen Video Marketing with VidVerify · Mortgage Marketing Radio

• 0:00
  In today's highly competitive mortgage industry, building profitable relationships with
• 0:04
  real estate agents is essential for success.
• 0:06
  However, finding effective ways to secure agent relationships can be a challenge.
• 0:11
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• 0:15
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• 0:20
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• 0:25
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• 0:31
  And in this case study, he shares his proven strategies for building strong relationships
• 0:35
  with real estate agents and leveraging those relationships to drive more business.
• 0:39
  To get your hands on this resource, head over to LOKestudy.com and download your free copy
• 0:45
  of the case study today.
• 0:47
  You'll find actionable insights and practical tips that Chris used to close 36 million
• 0:52
  in funded loans from agent referrals and how you can, too.
• 0:56
  Don't miss out.
• 0:57
  Go check it out right now, visit LOKestudy.com and download your free copy today.
• 1:17
  Welcome to Mortgage Marketing Radio.
• 1:19
  Brought to you by the Mortgage Marketing Institute, your number one source for truth
• 1:24
  in Mortgage Marketing.
• 1:26
  Hey there, loyal listeners.
• 1:28
  This Jeff Zinfrager host for Mortgage Marketing Radio.
• 1:32
  I am coming to you from sunny 7th, California, where I'm preparing for the long weekend,
• 1:38
  the 4th of July holiday.
• 1:39
  What are your plans for this weekend?
• 1:41
  Get away with the family doing something fun.
• 1:43
  I hope you are.
• 1:44
  I wanted to get this podcast off to you, though, real quickly.
• 1:48
  I'm giving you an opportunity to listen to it over the next several days.
• 1:51
  Maybe we've got a little downtime.
• 1:52
  So if you're tuning in, you've got a very special episode this week and I'm very excited
• 1:57
  about it featuring a company called Vid Verify.
• 2:01
  So Vid Verify.
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  What they do is they provide next-generation video communication for Mortgage Banking
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  and real estate markets.
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  Now, I know a lot of us out there, law and officers were looking at, hey, how do I leverage
• 2:12
  video?
• 2:13
  Incorporate it into my business.
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  I think you'll be pleased to hear what Vid Verify can do for you.
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  Not only that from a marketing standpoint, but as I chat with Laura Hopkins, she's the
• 2:27
  VP of Marketing for Vid Verify.
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  She's also going to reveal the platform they've got that I thought was very, very impressive
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  when it comes to automated compliance using video to communicate and engage with your
• 2:41
  clients as they go through the loan process.
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  So all the various requirements from the CFPB and Trid and Ranked Out and all that fun stuff
• 2:50
  that's happened to us over the last several years.
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  We know compliance is a very important issue and how do we disclose, how do we ensure that
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  we've got compliance.
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  Well, Vid Verify has created a platform that is really stellar, professionally done videos.
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  These are not animated videos.
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  These are professional actors, actually.
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  So they're done very professional, very high quality.
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  You'll discover that the platform is actually very affordable, gives you tracking and analytics,
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  allows you to customize certain portions of the video as well.
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  So it's an alternative to things like bomb bomb and things like that.
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  But also what's great about is it includes the compliance, the automated compliance video
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  portion of that in addition to you being able to make your own videos.
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  So I hope you enjoy this session.
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  If you do like these podcasts, do me a favor.
• 3:38
  Just take a moment, subscribe to the podcast on iTunes, maybe leave a quick review, the
• 3:42
  more ratings reviews we get, the better it helps us show up in the finance so we can help
• 3:45
  more people.
• 3:47
  And again, have yourself a great fourth of a July weekend.
• 3:50
  If that's the time frame you're listening to this, if not, enjoy the interview with Vid
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  Verify.
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  Bye for now.
• 3:58
  Hey, Laura, welcome to the show.
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  Hi.
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  I really appreciate you being here.
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  I know you're very busy.
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  You've got a lot on your plate, especially as we're moving into an upcoming long weekend,
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  you're probably trying to get the last minute stuff done in the office before we all head
• 4:12
  out.
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  So appreciate that.
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  As the listeners heard in the intro, what your company Vid Verify is all about is compliance,
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  video marketing, and why that's the future.
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  And so I want to take a moment if you could just do a real quick brief overview of who
• 4:32
  and what Vid Verify is all about, and then we can unpack right that topic of compliance
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  video marketing.
• 4:37
  Sure.
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  Sure, absolutely.
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  Just really basically we're an automated video platform.
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  So just in the simplest form, we deliver videos throughout the loan process in conjunction
• 4:53
  with the LOS system.
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  We're able to explain to your borrower throughout the loan process what they're signing, what
• 5:04
  they're going through, the loan process is very complicated.
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  So helping them go through each step via video is very helpful.
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  And we do that through delivering videos throughout the milestones and we integrate with
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  the LOS system.
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  So it's automated, nobody has to trigger anything manually, and everything's explained in layman's
• 5:29
  terms in short digestible increments.
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  The other piece from a compliance standpoint is that everything is tracked, so you can
• 5:39
  go back to who watched what, and that's a big piece of Vid Verify.
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  Yeah, and hearing that, it sounds like a no-brainer who wouldn't want to do that.
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  And we'll talk about the adoption of video in compliance marketing and video in general,
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  because you and I talked about this before, before we started recording this in terms of video
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  adoption in the mortgage real estate market.
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  But why do you think, last time we talked, you and I talked about why video, what's wrong
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  with animated videos and stuff, and if people go to your website, they can definitely see
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  a sample at vidverify.com, I mean you guys are clearly, as it says, next generation video
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  communication, because you've got live actors on there who are professionally scripted,
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  and so this eliminates the concern you and I talked about, which is with loan officers
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  not wanting to be on video camera, because of how they look.
• 6:34
  Right, right.
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  But you also give companies and loan officers an opportunity to still customize it and
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  maybe do kind of like a front-end welcome video or something like that on that, correct?
• 6:46
  Yeah, absolutely.
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  So yes, we all know how popular videos are.
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  People love using videos and there's lots of different YouTube channels and a lot of
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  these animated videos out there, which are cool and entertaining.
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  However, the mission isn't to entertain the borrower, it's really to educate and make
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  sure that you have a little CYA there, and as the challenge is really to make sure that
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  people understand what they're doing, and really the general public is starting to get
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  numb to a lot of that animation because it's being used everywhere.
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  So when we talk about what we're doing with vidverify, we want that to be able to hold
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  up in court when a borrower says, hey, my loan officer never told me that and your
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  loan officer knows they told the person that and they may have had a cute video on their
• 7:49
  website or wherever out on YouTube, but using a real-life person really helps deliver
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  the message in a different way and does capture the attention of people and we have found
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  it and there are statistics out there that if people really do have a higher retention
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  to material being delivered in that way and there is a warmth in that type of delivery
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  even with using a video and absolutely a loan officer can replace any of our videos
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  with their own thank you, with their own welcome, with their own description of, hey, here's
• 8:29
  what you can expect during the loan process with me so they can definitely add their own
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  touch to it.
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  Very cool.
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  So, let's paint the picture here.
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  So I'm a loan officer.
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  You guys integrate with different LOSs out there.
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  How does this work if I'm a loan officer and I've got somebody going through the process?
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  What do I need to do on my end to make your videos integrated through the whole process?
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  So the company, the lender says, okay, these are the videos we want to go out with every
• 8:59
  loan.
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  So no matter what from the top down, every loan officers, borrowers are going to get
• 9:07
  the same sequence of videos.
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  Now that's going to be automated centrally with the LOS system.
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  So a loan officer, if I'm a loan officer, I don't have to do anything.
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  I just originate the loan, I tell my borrower, hey, we really want you to know what's going
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  on in the process.
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  So you're going to get videos throughout the loan process.
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  Look out for them.
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  If you have any questions, of course, let me know.
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  But just so you know, you're going to get these videos.
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  I can also send videos ad hoc if I, you know, my borrower asks me, hey, what's another type
• 9:48
  alone I can get?
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  Or what's the difference between APR and interest rate?
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  And I don't really know the best way to explain that.
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  I can send videos ad hoc, or if I want to send a happy birthday video or something,
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  I can use the system.
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  But if I never want to use the system, and I just want to know those videos are going
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  out, I don't have to do anything, I just know they're going out.
• 10:11
  Yeah.
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  So there's a library of videos based on the situation.
• 10:15
  Yes.
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  So there's, sounds like there's two tracks, right?
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  There's the one track, which is the compliance, which is fully automated, and you know, what
• 10:21
  is that a matter of just like clicking a button in the LOS once the integration happens
• 10:25
  from the company?
• 10:26
  Well, it's mapped, it's, it's mapped initially upon setup.
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  So your company will have it all set up when they sign up was bid verify, and they say,
• 10:37
  okay, when our loan officer, you know, in their LOS completes this field ID, we want this
• 10:45
  video going out explaining the LE.
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  So they don't have to explain the LE or whatever.
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  And is the schedule or the cadence of videos set by triggers in the LOS or just by a calendar
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  timing?
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  Either one, whatever the, whatever the company decides.
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  Usually it's an LOS field ID or milestone, but they can do it either way.
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  And so there's obviously a series of videos, you know, once that process happens in the
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  field ID, but did they correspond with, you know, let's say we know we're sending disclosures
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  from the LOS.
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  Is there a video that?
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  Yes.
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  Okay.
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  So it sees that.
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  It knows what's happened.
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  It's intelligent.
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  Exactly.
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  Artificial intelligence.
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  We're, we're finally.
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  Exactly.
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  The robots are taking over.
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  Well, not yet, but.
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  Very interesting.
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  So you've also, you know, it's funny.
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  You mentioned birthday videos, and you've got me curious now what those look like because
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  I haven't seen one of those.
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  Is it like an actor wishing you happy birthday?
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  Is it a jib jab kind of thing?
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  Well, what we suggest is really at this point, you can have, you can make your own and set
• 11:57
  it up to go on, to deliver on the Bar Wars birthday.
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  We've had requests for, you know, like you've said, a lot of people haven't the intention,
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  hey, I want to do all my own videos.
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  Then they see themselves on camera and say, I don't want to do any of my own videos.
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  So, you know, we can have somebody do a birthday video, but something like that instead of
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  sending a postcard or a birthday card, something like, hey, I hope you have a great birthday
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  video.
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  You can do at your desk, you know, on your webcam, and that's a lot more personal than
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  sending a generic email or postcard, and they can do that.
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  The first day they meet the Bar Wars, set it up for six months from now, and just set
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  it and forget it, and know that it's going to go out.
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  So, can they also do like these one-off videos, such as, hey, it was great meeting you?
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  Sure, absolutely.
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  They can also do a video with their realtor that says, hey, we loved meeting you and have
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  it send out six months after they move in.
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  Hope you're having, you know, great time in your new neighborhood, and you're all settled
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  in, and keep us in mind if you want to refer us to anyone, I've had people do that as
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  well.
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  So they set it to go out six months later, and companies like this, because we do have
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  a compliance feature in our system that any videos they make, go to the compliance department
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  first, get approved, and then if they set it to go out a certain date, then it just sits
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  there and then it goes out that date.
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  What does that include, like the one-off birthday, or you had a great meeting videos that
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  they had for you?
• 13:41
  Right.
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  Anything.
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  So, who's setting that up, that it's required to go through compliance, is that on the
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  LL?
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  It's part of the initial setup, so they can set up as many compliance officers as they
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  like or a team, just, you know, it's part of the setup with VidVerify.
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  Okay.
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  Right.
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  So, on the birthday videos, right, I don't know what you're feeling is on that, that may
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  or may not need to go through compliance, that might be an individual company decision.
• 14:05
  Yeah.
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  Exactly.
• 14:07
  Yeah.
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  They can decide to bypass, and we can set up a bypass, so.
• 14:13
  So, are you guys, then, I'm just down the topic of these one-offs for a moment, because
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  a lot of people are looking at ways to leverage video, there's the compliance side, which is
• 14:22
  the one track, then there's the how do I communicate with my borrowers and partners.
• 14:26
  Are you guys, then, an alternative to something like a bomb bomb, for example?
• 14:30
  Yes.
• 14:31
  Absolutely.
• 14:32
  And the biggest difference is that compliance feature, because, really, I got to tell you,
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  we've been to the CFPB.
• 14:42
  They love what we're doing, and, unfortunately, and I know, loan officers don't love this,
• 14:49
  but there is such a huge liability for owners of companies that take on a risk of just
• 14:55
  having people do and say whatever they want.
• 14:59
  And for the most part, it's usually okay, but there's got to be some kind of compliance
• 15:05
  feature, and we do have that feature plus, we work with a law firm that that's all of
• 15:13
  our scripts.
• 15:14
  So, if there's a loan officer that wants to do their own LE video or loan products, we'll
• 15:23
  share the scripts that we already have bedded through attorneys in the industry.
• 15:29
  So we'll share those scripts with the loan officers and with any of our clients, and
• 15:37
  they can use our scripts, they know they're compliant, and again, they can bypass that
• 15:43
  compliance feature, but once it's approved, it's approved, it's in their library and done.
• 15:48
  That's very interesting.
• 15:49
  As you say, that puts the owners at ease to know even the scripts of the clients approved.
• 15:55
  Yeah, and they can get approved in a matter of 60 seconds or three seconds.
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  It's immediate.
• 16:02
  It's not like it takes a day.
• 16:05
  Right.
• 16:06
  Okay, so then talk to me a little bit about the analytics reporting.
• 16:10
  I imagine as a loan officer, if I'm sitting at my desk, do I have like my own dashboard?
• 16:15
  Yeah, yeah.
• 16:16
  A loan officer has a dashboard, the company admin has dashboard.
• 16:20
  You can see pretty much to any extent whose watch to video, admin has a little bit more
• 16:27
  detailed reporting, and we can pull anything, but you can see which video they watched,
• 16:34
  when they logged in, how many times they logged in, how many seconds they were on a video.
• 16:40
  So again, if you ever end up in litigation, we can get down to the nitty gritty as far
• 16:46
  as even seconds that they watch.
• 16:50
  So if they don't make it to the end of the video, we can even give you that type of detail.
• 16:56
  But yeah, they can look, they can see unwatched videos.
• 17:00
  We also track reminders, so intervals of how many times they were reminded, and you can
• 17:07
  change that.
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  You can remind people if they don't watch it in three days, remind them again, X amount
• 17:13
  of days before closing.
• 17:15
  You can give them a list of videos, they didn't watch, and that is also audit ready for you
• 17:22
  as well.
• 17:23
  Yeah, it's a great opportunity for the loan officer to just track that engagement and
• 17:27
  use that as an opportunity to maybe put out that timely phone call.
• 17:31
  Absolutely.
• 17:32
  Because if somebody's not watching the videos, right, you want to kind of make sure that
• 17:36
  they are.
• 17:37
  It's interesting, this is really what I thought about this, and I first came across
• 17:41
  a bit verifying you guys.
• 17:43
  It really is, and you know, this is as well, so in today's market, right, there's a lot
• 17:47
  of what I have, sameness and clone marketing, and we really need to differentiate ourselves
• 17:51
  and provide this great, you know, user experience.
• 17:54
  So I'm thinking about this from two angles.
• 17:56
  One is, it's a great differentiator for the user itself, the individual borrower, obviously,
• 18:02
  because I mean, you know, who else is really doing this, right, at scale, right now, nobody,
• 18:07
  so it's a chance to get in on that and differentiate yourself.
• 18:10
  But also different yourself amongst your realtor partners, if you have a chance to talk
• 18:15
  to them about, hey, why should I choose you as a realtor partner if I'm going to send
• 18:18
  you my business, Mr. Mrs. Loan Officer, well, let me just, you know, kind of walk you
• 18:21
  through the process that, you know, that we do for a user experience and not really dwell
• 18:26
  so much on the compliance side, because the realtor gets that, but they're not going
• 18:30
  to be the big thing for them.
• 18:31
  They're going to really, I think, be wowed by, oh my gosh, we've got these professionally
• 18:35
  done high quality videos.
• 18:38
  Yeah, and the realtors can use them too.
• 18:41
  So Loan Officers send them to their realtors.
• 18:44
  The realtors have them on hand too, if the realtors want to say, hey, you know, explain
• 18:49
  something to their borrower, buying versus renting and things like that, they can use them
• 18:56
  as well.
• 18:57
  So, you know, tell me tell me how that would work.
• 19:01
  Well, a Loan Officer can put realtors or any referral partners in their database.
• 19:10
  They can send them videos and then a realtor has a video, you know, on their own dashboard,
• 19:18
  so they can use that, you know, in front of a borrower, or a Loan Officer can go to
• 19:26
  a realtor's office, they have access, they have the whole video library, they have access
• 19:32
  to that, so they can use that in presentations as well.
• 19:36
  And I've had people do that as well, so they definitely have, I've gotten, and this was
• 19:43
  another thing I wanted to say too, we've gotten feedback from realtors and borrowers just
• 19:49
  saying, wow, this is just a really great service that you've provided, or, you know, ABC
• 19:58
  Mortgage has just really gone above and beyond, thank you so much.
• 20:02
  We give our Loan Officers options to recap their realtors on what's going on with their
• 20:09
  borrower.
• 20:10
  So, these are the videos your borrowers have received this week, so they can know what's
• 20:14
  going on with their loans, and, you know, they can see what's going on.
• 20:22
  Can you actually publish a report of those video views for the individual borrower?
• 20:27
  For the borrower?
• 20:28
  Sure.
• 20:29
  The borrower.
• 20:30
  The reason I'm asking is because you just triggered a thought on my head about, you
• 20:33
  know, I could send a report to my realtor on these two or three borrowers, it's like,
• 20:37
  look, hey, man, here's where they're at in the process, they're engaged, they're watching
• 20:41
  the videos, so we're clear to close, you know, so far, kind of thing.
• 20:44
  Yeah.
• 20:45
  Well, you can, the Loan Officer can opt in to that, they just click a box, or the company
• 20:53
  can say we want all of our Loan Officers realtors to get a weekly report, and they do.
• 21:01
  So we have some companies that do, some companies that don't opt into that, we also have the
• 21:08
  option for Loan Officers to get copied on everything that their borrowers get, again,
• 21:15
  some Loan Officers like to know, some Loan Officers don't.
• 21:20
  So yeah, we also give them that option as well.
• 21:25
  Very cool.
• 21:26
  Very cool.
• 21:27
  I'm liking this more and more.
• 21:28
  Okay.
• 21:29
  The other thing I was going to say is what we've started to notice and our clients have
• 21:36
  noticed is it's really starting to stimulate activity and expediting responses that helped
• 21:47
  the Loan Process move along because, again, people are so numb to emails that now that
• 21:57
  they're saying, oh, I'm getting a video and it says, your loan is approved with conditions,
• 22:03
  it kind of catches their eye, and they're writing back some unrelated things, but things
• 22:09
  that are related to their loan and they're getting paperwork back faster, and it's just
• 22:18
  interesting because it's stimulating the Loan Process because they're communicating in
• 22:24
  a different way.
• 22:25
  Yeah, it definitely increases engagement, which maybe thought I should have asked this
• 22:29
  question earlier, in terms of the email that the borrower receives with that video, what
• 22:38
  does that look like to get to the video?
• 22:40
  Is it a screenshot of a video?
• 22:42
  Is it just a hyperlink in a text email?
• 22:45
  It's, well, each lender can revise the email.
• 22:49
  It's very short.
• 22:51
  It shows the title of the video, but it shows a play button.
• 22:55
  So again, we're just really going very visually, and each lender can really decide what they
• 23:04
  want it to look like, but we've really made a big play button that they click on and that
• 23:11
  is really...
• 23:12
  Okay, and it takes them to a destination page, and is that branded?
• 23:16
  Yes, it's branded to the company, can have the Loan Officer picture on it if they have
• 23:22
  a picture, and it has their logo, their colors, and then the video has the logo of the lender
• 23:32
  on it, and the Loan Officer information.
• 23:36
  Right, so it's a continuity of brand there.
• 23:39
  And the Loan Officer, as you said, with the email, they can adjust its meaning.
• 23:43
  I can change the subject line if I want, add text body.
• 23:46
  Right.
• 23:47
  Okay.
• 23:48
  Very nice.
• 23:49
  That's great because it'll really allow you to personalize it, which is, I think, you
• 23:52
  know, the video in and of itself is powerful, but it becomes that much better, right, when
• 23:56
  we can adjust it for our tone of communication, or things we want to say around the video,
• 24:01
  and that kind of stuff.
• 24:03
  Very nice.
• 24:04
  Okay, so naturally people are hearing this and they're thinking, wow, this sounds great.
• 24:08
  How much does it cost?
• 24:09
  So I know it's, you know, varies, obviously, a variety of factors, and as you shared before,
• 24:15
  it's usually a company that probably invests in this, but just give us some ideas on
• 24:21
  it, so people can get a thought in their head.
• 24:22
  And by the way, the Loan Officer, like, you know, they want to take this to their broker
• 24:26
  owner or whatever, just say, hey, you know what, guys, we need to look at doing this.
• 24:30
  Yeah.
• 24:31
  So basically, we'll charge a monthly fee.
• 24:34
  So an enterprise account fee, it's based on, you know, the size of your company, your
• 24:39
  average, closed loan.
• 24:41
  If a company wants to pay by user or per closed loan, we'll do that as well.
• 24:48
  It's nominal, you know, as compared to a CRM, it can range anywhere between 10 to $15
• 24:58
  a closed loan, but if you pay enterprise pricing and a company charges back to their
• 25:04
  Loan Officers, it'll be a lot less than that.
• 25:08
  And, wow, you know, that's pretty affordable.
• 25:11
  Yeah.
• 25:12
  So really, I mean, most of our clients are paying enterprise pricing, which they end
• 25:19
  up not really charging anything back to their officers.
• 25:23
  It's a flat fee.
• 25:25
  Yeah.
• 25:26
  Right.
• 25:27
  And it's a great value ad for, you know, the company and officer loan officers and it's
• 25:30
  recruiting tool and things like that.
• 25:31
  Yeah.
• 25:32
  And they just use the whole system.
• 25:34
  They can communicate with it.
• 25:35
  They use all the videos and, you know, wow.
• 25:41
  Platform.
• 25:42
  Can you share anybody who's, I know you mentioned you guys worked directly with like CFPB,
• 25:47
  but any endorsements you have or lenders that you want to share you've got on your roster?
• 25:53
  Well, we've got lenders that, you know, we've got some big contracts in the pipeline with
• 26:01
  some very large lenders, which maybe by next week I can, I can, but we've got companies,
• 26:08
  you know, on, in Arizona, in the Northeast, we've, you know, the CFPB doesn't endorse
• 26:15
  anyone, but they definitely have, you know, given us that good faith, effort, stamp of
• 26:19
  approval.
• 26:20
  We've got, you know, we've got companies like Suburban, Norcom, Delmar, CNN, gosh, you're
• 26:33
  putting me on the sky.
• 26:34
  No, I know.
• 26:35
  I apologize.
• 26:36
  But you don't know.
• 26:37
  No, it's fine.
• 26:38
  I should have.
• 26:39
  I set my list.
• 26:40
  But we do.
• 26:41
  We've got some of the, the bigger guys, which I can't mention their names yet are you'll probably,
• 26:45
  it'll probably, too, but I will also tell you some of the better, you know, attorneys
• 26:52
  out there off at Kerman, American mortgage law have endorsed our product and a lot of
• 26:59
  those people are in the courtroom litigating for companies out there and they have endorsed
• 27:08
  our product as well.
• 27:10
  So that's, um, so what was the, let's take us to take us before we close out here.
• 27:16
  What was the genesis of vid verify, what was the inspiration to start this?
• 27:21
  Well, the, the former owners of lenders, one mortgage cooperative, which is the largest
• 27:28
  cooperative in the country of independent mortgage bankers and financial institutions
• 27:33
  started vid verify.
• 27:36
  And so we're very familiar.
• 27:38
  I worked there for 10 years.
• 27:39
  We're very familiar of, you know, the experiences in 2007 and 2008 of, of lenders and rules
• 27:47
  and regulations of the CFPB and all the compliance factors and, and everything, all the hoops
• 27:54
  that lenders have to jump through in terms of accountability that they have and everything
• 28:01
  that they have to prove of what they're doing to educate borrowers and everything that
• 28:07
  they have to do throughout the loan process.
• 28:10
  So what we wanted to do was to say, okay, we're going to give you something that you can
• 28:15
  show the CFPB, your auditors and the borrower and, you know, put some accountability on
• 28:22
  the borrower that, hey, here's what you're buying, here's what you're agreeing to, here's
• 28:29
  the all of our transparency, we're not, you know, there's no more guessing.
• 28:35
  And then you've got to be part of the loan process, here's your skin and the game kind
• 28:40
  of thing.
• 28:41
  You can put in 20 minutes of watching videos so that nobody can ever turn around and say,
• 28:48
  I didn't know this, you know, and so this was, this was our way, originally when Vid Verify
• 28:57
  was born, we really wanted to videotape the closing and videotape all of that, but people
• 29:03
  are still not ready for that.
• 29:06
  That's a little bit too much accountability for everybody, but, you know, we still have
• 29:11
  people ask us about that and ask us, hey, can, can people, you know, not move on to the
• 29:17
  loan process unless they watch every single video, we're not making that decision.
• 29:22
  We do have people who are paying part of their borrower's closing if they watch all the
• 29:30
  videos and things like that, but, you know, I mean, there's a ton of amazing, awesome
• 29:38
  loan officers, then there's, there's a few people who, you know, say a little bit and
• 29:46
  just want to get the loan closed.
• 29:48
  This kind of just helps owners sleep at night to know everybody's getting the same message.
• 29:54
  There's no, there's no gray area, they can always say, hey, our borrower's get the same
• 30:01
  message on everything and a borrower, you know, doesn't really have an excuse that they
• 30:09
  didn't know something when they're being told, they're being sent e-disclosures and they're
• 30:14
  being sent very simple videos.
• 30:17
  So you kind of get to a point where our attorneys and these attorneys that endorse product
• 30:23
  like this are saying, what more can a lender do?
• 30:27
  What more can a loan officer do?
• 30:29
  Right.
• 30:30
  Yeah, because you have tracking ability of whether or not somebody, you know, at that
• 30:34
  recipients email opened and watched the video, you also show like duration, meaning how
• 30:39
  many members you do.
• 30:40
  Right.
• 30:41
  Mm-hmm.
• 30:42
  Okay, great.
• 30:43
  Yeah.
• 30:44
  Yeah, yeah, yeah.
• 30:45
  It seems like way around, right?
• 30:46
  Yeah.
• 30:47
  It seems like way around, right?
• 30:48
  You have to be objective for compliance, so they can rest easy from the user experience,
• 30:51
  the loan officer, it's a great kind of partnering tool with realtors as well.
• 30:55
  So it's one of them.
• 30:57
  Fortunately, you know, we have to have products like this.
• 31:00
  It'd be nice if everybody was.
• 31:02
  If we don't have it, it didn't have this history in our industry, but unfortunately, we get
• 31:09
  to have stuff like this.
• 31:10
  Plus, it's fun.
• 31:11
  And it really, you know, we got it, we got to add some fun and-
• 31:15
  Well, seriously, I think, listen, I think, you know, so the CFPB and, you know, all we
• 31:21
  could go on forever about all the issues that that happened in Frank's and all that.
• 31:25
  But I think, ultimately, this example for me is a positive one because it is a better
• 31:30
  user experience as far as-
• 31:32
  Yeah.
• 31:33
  And it's an education process, and I think when it comes to referrals, this is going to
• 31:38
  be a differentiator, you know, when it's like, look, if I get these series of videos for
• 31:41
  my loan officer in my last, you know, experience was, hell, I didn't know what was going on.
• 31:46
  Exactly.
• 31:47
  I'm going to be more likely to refer you, you know?
• 31:50
  Yeah.
• 31:51
  And, you know, not to mention millennials, but let's face it, they are going to start
• 31:58
  buying houses and they hate talking to people and they love videos, they love their phones.
• 32:07
  And at some point, you know, we're going to just be communicating in a different way to
• 32:14
  people and in other industries we already are.
• 32:19
  So, you know, there is, we could talk about this for days and I'm sure you do, I mean,
• 32:26
  you do.
• 32:27
  So-
• 32:28
  Well, so what is coming down the pike, any stuff around the corner for development?
• 32:32
  Well, we're doing, we're definitely going to be adding SMS so that we, you know, we're
• 32:37
  going to be doing this through text messaging and then we're adding, we're beta testing
• 32:43
  the prospect video automated campaign.
• 32:47
  So you'll be able to reach out to any leads and help, you know, get them in and educate
• 32:53
  them on before they start even originating loans.
• 32:59
  So you'll be able to get them in video wise and then we'll do two way communication.
• 33:05
  So there's a lot of, a lot of things that we'll be coming.
• 33:09
  What do you mean by two way communication?
• 33:10
  Well, when, when you get into actually talking to someone live video chat, yes.
• 33:18
  Okay.
• 33:19
  Nice.
• 33:20
  Very cool.
• 33:21
  Yeah, I would love to see the interface and see what that looks like in terms of, like
• 33:23
  you said, it's right now, it's right now it's right now it's in front of your desktop.
• 33:26
  Right.
• 33:27
  Not, not mobile available yet, right?
• 33:28
  Right.
• 33:29
  Okay.
• 33:30
  Very nice.
• 33:31
  Cool.
• 33:32
  Very cool.
• 33:33
  So where can people learn more about vidverify and-
• 33:36
  Well, we have our website vidverify.com and then my information is L Hopkins at vidverify.com.
• 33:45
  And every Wednesday we do a demo, 15 minute demo, which you can sign up on the website as
• 33:54
  well.
• 33:55
  And that way, you know, you're incognito and you can just watch a demo and then if you
• 34:00
  want more information, you can contact me through there.
• 34:04
  So the best place to go is to our website or contact me directly.
• 34:09
  Is the demo something we register for every Wednesday?
• 34:12
  Uh-huh.
• 34:13
  Yeah, you can just go on our website and there's a red rectangle.
• 34:16
  I see it.
• 34:17
  Yeah.
• 34:18
  Point weekly demo and you can just click on that and register and we'll, we have those
• 34:23
  weekly and you just hop on and watch the demo and-
• 34:29
  That's great.
• 34:30
  Yeah.
• 34:31
  It's right above the-
• 34:32
  Yeah.
• 34:33
  It's right above the sample video that you guys have there without professional looking
• 34:37
  gentlemen.
• 34:38
  Yeah.
• 34:39
  Yes.
• 34:40
  Very cool.
• 34:41
  Well, I'm a big fan of this and you know, encourage everybody who's listening to check
• 34:44
  this out as for all the reasons we mentioned, right, as a competitive advantage and from
• 34:50
  a compliance standpoint and everything else, it's-
• 34:53
  And especially-
• 34:54
  Yeah.
• 34:55
  And now it's a great time to get in at the-
• 34:57
  Yeah.
• 34:58
  The starting of this.
• 34:59
  Absolutely.
• 35:00
  After.
• 35:01
  Well, Laura, listen, I know you're busy and we got to get back to our day.
• 35:05
  So I thank you for sharing this with our listeners and we're going to post it up and put all
• 35:09
  the links in the show notes so people can check it out, attend that weekly webinar and hopefully
• 35:15
  start contacting you to learn more about Vid Verify.
• 35:17
  Well, thank you so much for having me.
• 35:20
  Fun.
• 35:21
  Well, talk about it.
• 35:22
  My pleasure.
• 35:23
  So listeners, thanks again for listening and at this week's session of mortgage marketing
• 35:27
  radio.
• 35:28
  If you like today's podcast, please hit the like, give us a comment on iTunes, subscribe
• 35:35
  on iTunes, download it, whatever you need to do.
• 35:38
  And this is it once again, Ben Jeff Zimper.
• 35:40
  And look forward to seeing you on the next episode of Mortgage Marketing Radio.
• 35:44
  Bye for now.
• 35:57
  One more truth in mortgage marketing.
• 36:00
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