Latest / Mortgage Marketing Radio / The New Must Have Technology for Mortgage Originators

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The New Must Have Technology for Mortgage Originators · Mortgage Marketing Radio

0:00
In today's highly competitive mortgage industry, building profitable relationships with
0:04
the real estate agents is essential for success.
0:06
However, finding effective ways to secure agent relationships can be a challenge.
0:11
With so many mortgage loan originators vying for the attention of real estate agents, it
0:15
can be difficult to stand out and establish meaningful connections.
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Our new case study featuring loan officer Chris Cogill is a must-read.
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Chris has closed a remarkable 36 million in funded loans from agent referrals.
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And in this case study, he shares his proven strategies for building strong relationships
0:34
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
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of the case study today.
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You'll find actionable insights and practical tips that Chris used to close 36 million
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Don't miss out.
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Go check it out right now.
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Visit LOKestudy.com and download your free copy today.
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Thank you for time for another episode of the Mortgage Marketing Radio Podcast.
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So thrilled you are tuned in.
1:29
And yesterday I was writing an email and I was writing about this concept of how do you
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have more joy in your career, your life.
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I'm yesterday for whatever reason was thinking about how to experience more joy in life.
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And I tried to make a case for there are things we can do, changes we can make shifts
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in our thinking that will lead us down the path to experiencing more joy in life.
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And I think one potential route for that is finding a higher purpose.
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What I mean by that is in the mortgage industry, right, in a lot of sales related industries
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people are consumed with making money, becoming wealthy, right, dominating.
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And what I find more often than not is that at some point that isn't fulfilling anymore.
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And perhaps it never was and it was just artificial and it's what we used to prop ourselves
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up, right, in the name of whatever emotion or attachment or belief about achieving those
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things thought was going to get you.
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And what I have personally found over the last few years and the people that I have these
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conversations with is that people who redirect their focus to a higher casual purpose, shifting
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away from exclusively about dominating money, right, and things like that and shifting
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the mindset to bringing greater value to those around them, direct their efforts towards
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achieving that.
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What normally happens is you achieve massive amounts of success.
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Even better, you find more fulfillment and joy in your work because the greatest purpose
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is to bring greater value, greater benefit or greater advantage to people.
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And that is something that must be, in my humble opinion, more important than expanding
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your bank account because your bank account won't expand if you're fixated on it, right?
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However, your bank account will expand if you're fixated on bringing greater value, greater
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achievement, greater distinction, or greater purpose, or greater utilization to some aspect
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of something to someone.
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In other words, most people fall in love with their own company, product or service, instead
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of falling in love with their clients' prospects and partners.
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As mortgage professionals, we can experience greater joy by finding ways to fall in love
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with our clients' prospect and partners.
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Yes, dare I say fall in love.
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I know.
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Sounds crazy.
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Stick with me here.
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When you shift your focus to enhancing people's lives and situations, your life is
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life will change with it.
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Rather than say, what do I have to tell this person to get them to buy, to get them to send
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me a referral to, right, rather than say those things, well, perhaps we should say, what
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do I have to give?
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What value can I create?
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What benefit can I render?
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That's a different perspective, right?
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This also gives purpose and fulfillment to you.
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It makes it about 10 times more enjoyable to do this job also, right?
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So it's a great vision.
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It gives you purpose.
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It gives you joy.
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And my challenge to you today is to try finding ways to, quote, fall in love with your
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clients and partners.
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Why?
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Well, you just might achieve a level of accomplishment, impact and fulfillment.
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You never dream possible before, oh, side benefit, you'll likely make more money than
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you have before ever as well as being fulfilled at the same time.
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So I hope you enjoy that.
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Take that lesson from here today.
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What I'm talking about on today's episode in just a moment is going to be relevant to
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that.
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However, talking about bringing greater value benefit and advantage to people, falling
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in love, there I say, right, with your clients, prospects and partners, a quick shout out
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to a couple of our mortgage marketing pro members, Carmella, last yesterday, she just shared
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a win of the weekend for her.
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She had her first ever first time home by her class on Saturday morning with two agents
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and an insurance person, 15 people showed up, did nine pre-approvals immediately after
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the class, scheduled another one for March, Kevin Dwyer closed 9.8 million in January,
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number one in the company, two face to face agent meetings, teaching a class on Tuesday
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to 15 agents.
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Those are two examples of bringing greater value and benefit to people.
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Those I will argue are examples of falling in love, not with your company, your product
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or service, but with your clients, prospects and partners, with those that you serve a
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higher, casual purpose to bringing greater value and tell me about our way to great and
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greater value, right, two people, then, oring into them, educating them and providing
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some type of advantage, distinction, greater utilization, then through helping them with
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education, leading with education.
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Those are examples of it right there and you're seeing, you're hearing the benefits.
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Maybe you'd like something similar for yourself.
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If so, you can learn more about what we're doing over in the mortgage marketing grow membership
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at mortgagemarketing.row.
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Okay, my special guest this week, two long time friends, Dave Savage, Alex Kitsition, they
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are founders, partners together with mortgage coach and sales boomerang today, though,
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however, are announcing a new platform, trust engine, the number one borrower intelligence
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platform.
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As a matter of fact, housing wire was quoted as saying that this is the new must-have technology
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that's tackling lending's greatest challenges.
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And I know in our conversation here today, along with this concept of what I just presented
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you guys about a higher casual purpose, right?
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I know that Dave and Alex also live by that.
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How do I know that?
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Because of the way they've shifted and changed and designed their product over the last
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few years to bring better purpose, not only to their clients, but to no borrower left
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behind, but to those consumers, right, to be better informed and educated when it comes
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to the largest decisions of their lives.
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So I think we have a great conversation about technology, the future, Dave shares a couple
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of points about the roadmap for $100 million mortgage producer, which, by the way, heads
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up one little hint on that, real tour leadership, you'll hear more about that in the conversation.
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Then, of course, at the end, if you want to check out more about what's happening with
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mortgage coach by trust engine, go read the press releases, go to the website, mortgagecoach.com.
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Those links will be in the show notes and definitely check them out for further information.
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So without further ado, let's get into this week's show.
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Dave and Alex, welcome to the show.
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Good to be here.
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All right.
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So because we have two people, we need to do this.
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We need to take somebody go first, all right?
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Who are you?
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What do you do?
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Dave, start there.
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Alex, you go next.
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Dave, savage co-founder of mortgage coach and never been more excited to be the chief
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innovation officer of trust engine.
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I just...
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Yes, playing that.
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Love it.
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Okay, Alex.
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He feels so good hearing it from me.
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Now that we've announced that it feels good to just basically say it all the time, Alex
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concession co-founder of sales boomerang and chief marketing officer and visionary officer
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here at trust engine.
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You know, I have to say, I don't know if those titles are self-acclaimed, but they are,
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I feel pretty accurate.
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Being an outsider, looking in, I don't want you guys ever get that feedback.
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But I do think, like in preparing for this podcast today, I was going to tell you guys
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that I don't personally know and I really had to think about it for a moment.
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I can't think of anybody in top of the list.
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I'm thinking like, if people ask me, hey, dude, who's really got a pulse on what's really
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happened in the mortgage industry, who really understands what it's going to take to survive
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and pivot over the coming changes that we all see coming?
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And I was like, definitely, Dave and Alex, because of what they're doing, they're what
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their companies do.
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You guys definitely top of the list for me for that.
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So.
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Well, thank you for you.
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That says a lot because your guy that follows everything, latest trends and what's working.
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So it's an honor brother.
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So let's talk about this big announcement, like stop teasing me.
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What is trust engine?
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What do you guys, I mean, housing wire came out and they said, man, can I tell the people
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what they said?
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Yeah.
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I'm going to put on screen too.
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Yeah, go ahead.
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Put it on the screen.
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We said that this is the most essential addition to the mortgage tech stack since the
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advent of the LOS, the borrower intelligence platform.
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Yeah, it's okay.
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So this is, first of all, it's exciting that the voice of lending decides to say something
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like that, right?
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That's, that's like, I was a very heartwarming and pleasant kind of kind of statement from
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them.
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And the reason they bring that up is because if we look and Dave is going to have a much
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better story about the LOS and what happened to the industry when the LOS came out.
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But what, what housing wire is, is pointing to is this borrower intelligence platform is
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the first system that really understands the advantages of each lender.
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That's the key difference where, for instance, right now, you know, as a sales boomerang
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as a standalone was looking at your database, your leads, your prospects, your turn downs,
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your customers, and saying, hey, someone in here is ready for a loan.
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And here's the person that they're ready for and here's the pieces of the puzzle for
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doing this loan for them and it's timely and you should get there.
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And of course, over the course of six years, going on six years here, nearly a trillion
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and tracked loans from delivering those things.
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So that's great.
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We've definitely made an impact on the lending industry.
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And of course, mortgage coach as a standalone, it transformed how lenders communicate with
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consumers.
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I mean, consumers began to trust the loan officer using something like like mortgage coach.
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They stopped asking as many questions.
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They stopped asking for pricing concessions because of the transparency and trust that
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you've built there, kind of nice influence on the name, trust engine, right?
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But a bar where intelligence platform isn't just a combination of sales boomerang and
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mortgage coach.
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It's something brand new, which now looks at everything that is happening inside your
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organization.
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So records, loan officers, production, time to production, who's doing well, who's
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doing poorly.
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And so all of a sudden, we're delivering opportunities that are being presented through this digital
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presentation, which is mortgage coach that's being transformed by the way, we'll get
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into that in just a second too.
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And it's also looking at trends.
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So for instance, I'm going to show something on screen.
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These people may be able to see this when they're looking at this highly recommend.
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If you were just going to listen to this audio, you want to see the screen.
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I promise you, you're going to want to see the screen.
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And so I want to show you this.
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This is the difference, right?
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This is what's new.
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And Dave, I'm sorry, I'm kind of cannibalizing the first half of this.
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So please, you know, if you want to jump in before I go into what I'm showing, let me
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stop.
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I can go next.
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Okay.
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Awesome.
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So this is an example of, it's not just, you know, mortgage coach and sales boomerang.
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This is an example, and I'll show full screen of what we're looking for, right?
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So we've already started this.
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We already have beta customers in this.
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And so here's an example.
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Hey, Lender, we noticed that cash outs have increased by 12% from December to January.
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And there's a certain kind of cash out that's converting 23% better than any other.
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And so like if we did nothing else, right, right now, Jeff, we did nothing else.
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And we just showed you this, just this block here, this one block, just this piece of information.
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You could actually do something with that.
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You as a lender could go, hey, there's movement.
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There's cash out.
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We should be focusing on cash out.
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But we're like, hey, wait a minute, don't start to scramble and figure that out.
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That's good information.
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You can use it, but let's get even smarter together, all right?
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So hey, Mr. and Mrs. Lender, here's what we've really identified.
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That the majority of this movement of what's happening with these, with this increased transactions
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are happening for married couples, okay, that are between 35 to 50 that have kids, two kids,
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2.3 to be exact, they have more than $14,000 in Revolving Credit Card debt, been in their
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home for five to 10 years.
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Their home is worth more than $430,000 on average.
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And guess what?
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The biggest impact has been coming from these four states.
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So this is good.
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The top block, very good block, gives you some direction.
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The second one puts a microscope under it.
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But the third block, because this is great, you're going to go to work, you're going to go
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look at your data, you're going to figure out how to get.
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And by the way, you're going to say to yourself, hey, we need to buy more leads like this.
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Absolutely.
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We encourage you to take this trend and go buy more opportunities that look just like
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this.
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But right now, we've identified 1832, 1332 people in database that match all of this
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right now.
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And we've activated, or if you want to activate it, this is for beta.
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So we were doing this automatically.
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But a client can say, look, I don't want to activate it automatically.
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I want to personally press a button so that I know it's happening.
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But we've activated, that means the digital presentation is created, the content for
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it is created, all of the things have been, have been created to maximize this opportunity
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because the worst thing, Jeff, and I'm going to hand it off to Dave, the worst thing is
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you have an advantage and you miss your opportunity.
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That advantage just became a curse, right?
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And so we don't want to just go, oh, we see an advantage.
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Let's call them schedule meeting.
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Oh, you're not available for two weeks.
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Okay, well, wait.
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No, we want to put things into action as fast as possible.
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So if we can get you to this block as fast as possible and activate strategies, you win,
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right?
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Your advantages are actually scalable and things you can actually do.
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So let me stop sharing.
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This is an example of the difference, right?
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You knew mortgage code, you knew sales boomerang, that's nothing that we've ever done
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before.
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I mean, the term that comes to mind for me is actionable data.
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Totally.
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Totally.
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Like very specific actionable data.
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So it makes me curious that next step there of the intelligence activated, what you're
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saying is this new trust engine is going to identify these trends, which is cool.
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And they wrote down even further to these segments of segments of these identifiable opportunities
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in your own database, potentially, right?
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And then because you've done the analysis on your database, you're now teeing up these
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opportunities, essentially.
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But also if you want to doing this act, this proactive reach out to people who meet those
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criteria.
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Yeah.
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Well, well, you're identifying specifically, remember, this is not the industry trend.
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This is your trend.
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Right.
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Like it's your advantage.
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So this trend, by the way, that's a good point.
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This trend you reference isn't a global trend per se or a national trend.
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It is a individual database trend.
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Correct.
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If we're seeing, don't get me wrong, we're using indicators from the industry.
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Like if we're seeing, we're using that, but we're looking for things you can take advantage
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of just because somebody out there is doing more reverses than ever and you've never done
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a reverse.
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If we gave you a reverse trend, we'd be creating noise.
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And that's what a lot of organizations get is a lot of noise.
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How can you make it something that is valuable to me, valuable to me now and valuable to
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me in a scalable way, rather than, okay, I took advantage now.
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Do I have to wait for something to be able to take advantage again?
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No, it should scale.
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Right?
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It should grow on top of itself.
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And so it is designed to give you your advantages.
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Your competitor can't take advantage of your advantages because they're yours.
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I call it the shakilit anneal approach, right?
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When Shaq is on your team, you have an unfair advantage.
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Let's just be clear that the six rings that he wears or five rings or whatever proves
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that any team he's on is going to win a championship.
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And so how can we give people an unfair advantage with the things that they have?
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That's the purpose of this.
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And I'll give you one more and actually, no, Dave, you go and then I'll go more pumped.
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He's rolling, man.
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Come on.
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Come on, Dave.
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We want to hear from you, buddy.
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So what's the question again?
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We were just getting into the conversation of what the difference is and how these trends,
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what people are going to be able to do with these trends and, you know, how it's different
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than what we've done individually before.
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I think it, you know, to me, maybe just because, you know, I'm in it and around it.
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And I think the benefit sounds pretty clear, right?
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You're going to act or your data, your system, your trust engine is going to act on my behalf
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to identify these opportunities, which I, as a busy L.O., probably will overlook our
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miss out on that big tech is winning on.
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And therefore, I'm missing out on missing at bats and opportunities.
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And correct me if I'm wrong.
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What you guys are proposing is, no, no, hold on, Mr. L.O., right?
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I can help you because we will have this model put together to, to overlay over your database,
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bring in some external data, look for trends, and then feed those up to you as well.
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Is that good summary?
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Yes.
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Dave?
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Yeah, well, I'm going to go back to the question of what is a part of our platform and what,
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what is a trust engine here to do at a really, really high level?
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And, you know, as a guy who's been in this industry for 37 years and actually saw the L.O.S.
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come out.
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Like I remember what the life was before there was a low origination software.
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I mean, I can't remember it vividly.
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And then I think for most originators that are in the business day, you know what it was
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life without a POS upon a sale.
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It wasn't that long ago that the rocket went off and created this expectation that you
21:01
could click a button and you could get alone.
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And today, you know, it's almost unimaginable.
21:07
And I think was that 2015, Jeff, Super Bowl, 2015.
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Yeah, yeah.
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So here we are, seven years later, and I can remember when the industry's first started,
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what I call the arms race of creating technology that made it easy.
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Hey, consumer, click a button.
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It took a long time like the technology came, but then loan officers weren't using it.
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You know, I didn't say up to, you know, COVID is what really pushed it across the finish line.
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Where now today it's unimaginable to not have a link to send a family in an L.O.S.
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So a borrow intelligence platform is really, it's similar.
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And it will flash forward to 2025, 2027.
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It will be like, I can't believe that I used to do loans.
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All right.
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And a term I use a lot is, you know, being a data driven mortgage advisor.
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And for mortgage coach, being data driven is delivering that presentation beyond just,
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here's your rate, here's your payment, and here's your cash to close.
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That's data driven, but data driven is also, and hey, Alex, you could pull down the slides.
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I'm good.
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I was just showing Jeff that there's, you know, there is a definition for it, but go ahead.
22:30
Yeah.
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So, so, so data driven is is also knowing the signals that happen in your database
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and putting that all together.
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So the, the two problems that we're, we're committed to solving with the borrow intelligence platform
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is, is one, lenders lose more loans than they close.
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So every loan officer listening this right now, I guarantee you that when you look at your conversion,
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you're losing more loans that you're closing.
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And I'm not talking about the people that didn't qualify.
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I'm talking about you spent time with the consumer, you ran a credit report,
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and they didn't convert, they did convert with someone else.
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And, and two, that you lose the loans from your database.
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They're refinancing, they're buying homes, and it's not with you a lot more than what you close.
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And then for every executive, listen to this, you're spending millions on technology
23:21
that loan officers are not using.
23:24
So we're obsessed with solving both of those problems.
23:28
Yes.
23:28
We think with data and, and Alex shared one of just countless examples of how,
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how can we really, how can we really solve problems with strategies with tactics?
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And what Alex showed a second ago, it's just, it's just one of many ways that we can do that.
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There's a lot of good stuff and you keep teasing me with the slides.
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That's good content in there.
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What, what does this mean for, you know, mortgage coach and sales boomerang?
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Do we have a new naming or, so there are, there are companies under trust engine.
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Trust engine is the company name, you know, you want to email me, it's Dave at trust engine.
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Now it's Alex at trust engine.
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Of course, neither one of us are ever going to lose our David mortgage coach or Alex at sales boomerang.
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And, and now we're all part of this borrower, well, no borrower left behind movement.
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So, you know, you can email me at David sales boomerang too.
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But those, those will be brands that stay alive, but trust engine is the, the mullership.
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Yep.
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Got it.
24:34
All right.
24:34
And so what about those listening who are definitely curious and either want to check it out themselves
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or want to bring this to the attention of their internal, right, the executives?
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How do they go to learn more?
24:45
Yeah, I mean, right now you can go to trust engine.com.
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And you will, you will see an entire, you know, it's, it's very interesting.
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The website talks to you.
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It's like, you're not just, you're not, you're not just going, you're, you're actually going
24:58
and you're seeing something.
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Um, so, hold on a second.
25:02
I know you're trying to go there right now.
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So, give me a second.
25:05
Um, come on.
25:07
Let's get ready to pull that up.
25:09
You know, we, we did also announce a new YouTube channel.
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So, mortgage coach YouTube is still the, the Netflix for loan officers, best practice sales training,
25:20
scripts, you know, how to win as a loan officer.
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But the trust engine YouTube channel, I'm going to be interviewing executives.
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It's going to be modern leadership for lenders.
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So we'll be interviewing executives.
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We'll be interviewing people outside the mortgage industry that are modern leaders.
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And that's one of the things.
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Well, I think I have a feeling of what, what is modern leadership?
25:43
There are some pillars, intense of that.
25:45
Uh, we're going to be really defining that.
25:47
So, for any executive in the mortgage industry, for anyone that just wants to be a leader in
25:51
the industry, there'll be a new hot, uh, channel, you know, check out trust engine on YouTube.
25:57
Uh, my first interview was actually an interview with our CEO, just telling stories like, yes,
26:03
you're about Jeff.
26:04
You'll love this.
26:05
You'll love it.
26:06
So, so I can't remember if he was an oracle, you know, leading the clotted oracle or was
26:11
with, um, at this, yeah, it was his other company.
26:15
But he tells a story of how they were helping Toyota launch, um, new pickup truck line.
26:21
And they were trying to figure out how to target potential, um, people that would buy pickup
26:25
trucks and using data, they identified that beef jerky purchaser.
26:31
People that buy beef jerky are more likely to, to want to buy pickup trucks.
26:35
So they were able to, to leverage that data to, to help with the launch.
26:40
And, and so we think we're going to find a lot of really fun things of how to identify
26:44
who's, oh, there's a first time home buyer in this house, um, looks like a move out home
26:49
buyer in this house, looks like someone might be ready for a second home, uh, so just think
26:55
of all the ways that you can use data to, to predict and identify who's, who's likely
27:01
to, to be alone and someone you can help, uh, who the kinds of things we're going to do
27:05
in that channel.
27:06
Right.
27:07
I think, I think you opened this up for a great, great conversation and for those of you
27:10
that were on the announcement, uh, the other day on Valentine's Day, heard some of this,
27:15
but we've just, Dave and I went out and found Rich, uh, who's our CEO and, and Rich
27:21
Harrison and Rich LaBarca, who's, uh, our chief product officer here, um, and I think
27:28
the industry is going to be very happy that we brought those two into this space because
27:34
you may have seen on screen a second ago, like brands like Coca-Cola and Starbucks and Toyota
27:39
and Uber and stuff like that.
27:41
Every one of those were clients of Rich and Rich, okay?
27:44
And they came to them with a question like Toyota did, we need to sell them.
27:49
How do we get more of our customers to buy more of our trucks, meaning not just the people
27:53
that already own them, those two, but our customers are out there that haven't bought
27:57
our truck yet.
27:58
So how do we make sure that they hear our message and we optimize all this data that we
28:03
have?
28:04
So think about this.
28:05
And he's like Toyota and Starbucks and Coca-Cola come to them to make their data work better
28:10
for them.
28:11
Yeah.
28:12
That's why Dave and I went out there and we're like, get in here.
28:14
We have a vision.
28:15
We have a vision that's going to require some really heavy lifting here.
28:18
And we want to do it with, with a couple of guys that have already done it in some of
28:21
the most difficult industry.
28:22
So this industry just got some, some, some vets, some legends in, in data and creating
28:27
experiences for consumers and experiences for, uh, the, the providers of, in this case,
28:34
blenders, they've found a way to marry the two.
28:37
So it's just very cohesive and, and self, self learning.
28:41
So like now, your database monitors itself and gives you insights because it's looking
28:47
at itself.
28:48
Um, and what used to take weeks or months now is taking minutes, because it's self identifying.
28:55
And just imagine, Jeff, we, you know, we talked about last year, um, the, the, the difficulty
29:00
of, uh, and the turbulent market and going into this year, like how much of an advantage
29:07
would it be for me to know that I have 1,832 of a certain type of customer that's buying
29:14
right now more than anything else.
29:16
Instead of me hoping to bump into one, they're already existing for me.
29:20
And now my database has projected to me, what kind of bleeds I should be buying.
29:26
So these already exist.
29:28
Fantastic.
29:29
So hey, go after more of these, because we know we do really well with them.
29:32
We're seeing our, our success.
29:34
And so it's like, where people are right now hoping to find conversations and hoping to
29:38
find opportunities, a bar or intelligence platform scales on itself.
29:42
And so that you're always going to be in the know of where you should be focusing and
29:46
where your advantages are.
29:47
So just, I'm sure, I'm sure it's coming through, but we're pumped.
29:51
Yeah, man.
29:52
That's exciting stuff.
29:53
You're taking it up a notch when it comes to like leadership, right?
29:56
At the top to continue with this vision.
29:59
You guys have continued to evolve and grow and expand your partnership together.
30:03
First of all, that was one and now next up, right?
30:06
Look out, man.
30:07
Nobody getting away.
30:11
What dawned on me was I was listening to you there.
30:12
I love the fact you said database moment monitors itself.
30:15
I thought to myself, let, I mean, isn't one of the hardest parts in this industry is
30:19
to generate opportunities, right?
30:22
And so what you guys are doing is you're helping facilitate those opportunities and saving
30:26
me massive amounts of time and attention and energy to do that by leveraging data because
30:30
this is something I as an individual LL could never do on my own.
30:33
Well, and here's, and here's the thing you just said something very important and watch
30:37
this.
30:38
And this is the brilliance of Rich LaBarca here about to see everyone thinks is an opportunity
30:42
somebody that's living inside your database and that's just not true.
30:44
That's a warm body.
30:45
That's a record.
30:46
Okay.
30:47
It's not an opportunity.
30:48
An opportunity is when somebody that has, well, I can show you, here's what an opportunity
30:52
looks like.
30:53
Show me.
30:54
Don't tell me, baby.
30:55
Show you.
30:56
This is an opportunity, okay?
30:59
Strategically you find borrowers who need, who have some, who need some value, okay?
31:03
They need it.
31:04
You've identified, there's a need for some value, okay?
31:08
Now that's not an opportunity yet.
31:10
That's just the fact that you've identified a group of people that need some value.
31:14
Now, second part, ways to communicate value to the borrower.
31:20
So you found people that need value.
31:22
Now you need to not communicate to them so they can hear the value.
31:26
And only after you've found the people that need the value and how to communicate it,
31:30
does it actually become an opportunity?
31:32
Until then, it's not an opportunity.
31:35
That's good.
31:36
Because you make it real for them, actually.
31:39
Correct.
31:40
Correct.
31:41
It's only an opportunity once you have a borrower plus the value plus the communication.
31:47
Until it's all three of those things, it's not an opportunity.
31:50
It's just someone that needs value.
31:52
Great.
31:53
How are you going to communicate it?
31:54
I don't know.
31:55
Not an opportunity.
31:56
I know how to communicate the value.
31:57
Now it's an opportunity.
31:59
And that's the biggest difference is that everyone treats everyone in their database.
32:03
We talk about this Dave, undifferentiated data, right?
32:05
It's all the same.
32:06
Everyone's the same.
32:07
Treat everyone the same.
32:08
Communicate the same.
32:09
And the results are, like, like, less than what anyone ever expects.
32:14
And so here is a chance for real intelligence to come out and stop being noise and start
32:21
being actionable.
32:22
Like you said.
32:23
I'm reminded of you guys remember that book, let's just a test to see how if you're as old
32:27
as me.
32:28
Remember that book one to one marketing?
32:29
Oh, yeah.
32:30
Rodgers and Puppers, baby.
32:31
Yeah.
32:32
When that thing first came out, right, I was just like talking about the future.
32:35
You'll have a specific marketing message, journey, specific, just to you, that beef jerky
32:41
eater or whatever, right, unique to your own situation, that mom who needs cat, that's
32:46
where we're at, right?
32:47
Yes.
32:48
That's it.
32:49
You nailed it.
32:50
Yeah.
32:51
Very, very dated permission marketing used to be a, you know, Seth Gooden's, maybe it was
32:57
his first book.
32:58
Yeah.
32:59
Those are, those are just commonplace now.
33:01
So if we're not doing permission marketing, then how would you describe that leveraging
33:04
this data?
33:05
Yeah, I would describe it by, you know, helping a family make the best decision at the
33:12
right time.
33:13
You know, I mean, you're leveraging public domain data that is available to give a family
33:19
a better service.
33:20
I mean, one of the things I've always been passionate about is an entrepreneur is, is
33:25
how can we use technology to help consumers make better decisions, you know, and that's
33:30
providing them with more data and using transparency to give them more data, you know, people can
33:36
achieve financial freedom, but they, they need the right data at the right time.
33:40
And right now they're not getting it.
33:41
I mean, consumers are not getting intelligent reach outs.
33:47
You know, they're, they're, they're, they're having to be the ones to raise their hands
33:50
saying, hey, I think you know, instead of professionals that know how you can build wealthless
33:57
real estate, being able to give, give, give a, give a presentation.
34:00
So I, I think it's using data for good is using data to help families achieve financial
34:05
freedom faster.
34:07
That's the platform we're building.
34:09
Okay.
34:10
And so once again, we're going to put links to everything you said in the show notes,
34:12
the YouTube channel, the website, so people can go check out trust engine.
34:16
Great name, by the way.
34:17
That makes, I'm like, is that really available or like, let me, let me tell you the, the story
34:21
behind that too, right?
34:22
Like the, the, the big, the big thing was the vision.
34:25
You remember like a hundred years ago, I was there, you don't, you don't remember that,
34:30
you know, you wait a second, Jeff, you're not better.
34:32
I'm a little over half of that.
34:34
I'll just let the cat out of the bag, then he's, what are you drinking to look so young?
34:40
Choose your on, man.
34:42
So I heard a hundred years ago that somebody could walk into a bank, see the banker and
34:51
say, hey, I'd like to buy house some property for my family.
34:56
And I'd like to borrow some money and they go, you know what, Jeff, I know your family
35:00
for a long time.
35:01
How much do you need?
35:02
That's shake a hand, right?
35:03
Boom.
35:04
Like, it was, it, that's it.
35:06
It's like that, that real trust was there.
35:08
And we want to bring that back, but modernize it, right?
35:11
Like how can we make lenders not have to sell themselves every single time?
35:16
Think about that.
35:17
Every time we do a transaction, we got to sell ourselves.
35:20
Trust me.
35:21
Believe me, I'm giving you the best.
35:22
You can check it.
35:23
We're always selling ourselves.
35:25
We just did this three years ago.
35:26
Why are you, why am I forced to sell myself again to you where that didn't happen before,
35:31
right?
35:32
The way you build trust and the way you build value, the kind of compliment each other,
35:37
is you explain to the lender that you are, and again, this is the, this is the vision.
35:44
Look, Mr. Mrs, not the lunch, the bar, Mr. Mrs. Barrower, we use a system called trust
35:49
engine that always chooses the best loan for you.
35:52
This isn't a sales pitch.
35:53
This is us serving you.
35:55
And by the way, consumers are expecting you to do that.
35:58
Millennials and generations Z has said.
36:01
We expect you to tell us things about ourselves and then we'll make a decision.
36:05
But we want you to tell us things, which is why Kaia came out with this thing that says,
36:09
hey, don't buy that ticket just yet.
36:11
This looks like it could be trending down.
36:13
Why don't we alert you tomorrow if the price of this flight has gone down, right?
36:17
We consumers are like, great, this is wonderful.
36:19
This is what we want.
36:20
We want you technology company to make me be better at being me.
36:25
Think about that.
36:26
We want you to help me be a better version of me.
36:28
That's what trust engine is doing.
36:29
Look, Mr. Mrs. Barrower, we're serving you.
36:32
The system is designed to give you the best option for you, not your neighbor, not your
36:37
mom, not your wife for you.
36:39
This is designed for you.
36:40
And Mr. Mrs. Loan Officer, we're also helping you and educating you in that look.
36:45
You may have just been here for six months and you want to be as good as the top producer
36:48
in your company, but you don't know all the ins and outs of all the loans.
36:52
We do.
36:53
We know every type of loan you can offer, even if you don't know you can offer it, we're
36:56
going to present it to you that will be presented to the borrower.
37:00
And you will learn about some of the nuances of what you can be doing that you on your
37:04
own would not have figured out because there's a hundred and I'll call them skews.
37:09
Sometimes there's a hundred skews in a lender, a hundred different ways they can do a mortgage.
37:13
But I loan officer one and a half years into the business, only no streamlines and this
37:18
one thing, right, or that one thing.
37:21
And so what happens is my conversion numbers continue to go down.
37:25
And this is what we were showing you a second ago in this and that I didn't show you all
37:31
of it.
37:32
But one of the things that you'll see in this is something like this and this is key and
37:37
then I know we're wrapping it up, but this is key differentiator and what's happening.
37:42
When we can tell you that your conversion rates are down 33% from 11 to 7.37 and then say,
37:51
by the way, you're 2.63 below the benchmark.
37:54
You have 235 lenders on the system.
37:58
Most lenders don't know if they're using their systems properly, if they're using their
38:00
technology properly, not anymore.
38:02
Now we'll tell you how you're performing versus the industry versus others in the industry
38:06
using the same platform for the same reasons.
38:08
You're below.
38:10
But instead of you running around trying to figure it out, we figured it out for you.
38:13
Not everyone in your company is doing poorly, but 16 of 44 branches are doing poorly and
38:18
not everyone in those 16 branches are doing poorly.
38:21
22 specific loan officers are doing poorly.
38:23
So guess what?
38:24
Here's the solution.
38:25
Training has already been scheduled and would you like us to distribute these loans to higher
38:31
producing loan officers while we're training these loan officers on how to do these
38:34
loans?
38:35
So it goes into action.
38:37
Again, I wanted to show you that one more time because that is the big difference between
38:42
what we're doing now.
38:43
It's not just trends on a specific loan.
38:45
Yeah.
38:46
How about a company?
38:47
How can you do better as a whole?
38:50
That's hugely valuable, man.
38:51
Just sit there and look at that data.
38:54
Very, very interesting.
38:55
And have a solution for it too.
38:56
Not just look at the problem and be like, okay, how are we solving this?
39:00
We have a solution.
39:01
You can activate it or you can try to solve it yourself, but we have a solution.
39:04
Yeah.
39:05
Well, that's very cool.
39:06
Very insightful data.
39:07
That's awesome.
39:08
You're equipping those executives who need to better understand what's performing, who's
39:10
performing, right?
39:11
How to correct it and rectify it.
39:13
Yeah.
39:14
But not spend your wheels, not be like, oh, our conversions are down.
39:17
Where do we look?
39:18
Do we pick up?
39:19
No, no, no, no.
39:20
We will actually give you a microscope and show you what's happening here and recommend
39:24
the solution.
39:25
The question is, are you?
39:27
You're fixing that old joke.
39:30
How many originators work for you about half, but you don't know which half.
39:35
Never again.
39:36
Never again.
39:37
All right.
39:38
For the time we've got left, Dave, if you wouldn't mind, I want, if you could, you
39:41
have six trends to $100 million producers.
39:43
We're not going to do all of them.
39:45
But if you could maybe take, you know, the top two or three that you think are most relevant
39:49
right now of the trends to be of $100 million producers that you see, because like I said,
39:53
at the start, you know, you guys, you Dave, for years, I've had your pulse, your thumb
39:57
on the pulse of the industry.
39:59
You of course talked to hundreds of high producing all those.
40:02
So what are you seeing out there?
40:04
So yeah, I'll just quickly, I like three out of the six.
40:08
And I'll start at the bottom number six.
40:10
And not because it is in last place, there's an argument to say it's number one.
40:15
And that's the first time home buyers, guys, like it is a market where if you're a loan
40:21
author there, you should just be, I'm a first time home buyer specialist.
40:26
It's a big enough market opportunity in every single geographic market in America.
40:31
It's, it's, it's, there's new ones to it for, I talked to loan authors all the time
40:37
and some loan authors, oh, I don't like to work with first time home buyers.
40:41
And then I talked to some loan officers, all I like is a first time home buyers.
40:46
It's, it's a market that you need to master for the next decade.
40:50
When you just look at the demographics, you look at the amount of millennials that are
40:55
renting.
40:56
And then when you look at the value of owning versus renting, I mean, it makes sense.
41:00
So be great at that.
41:02
That's a mega trend that $100 million producers are embracing and they're getting after.
41:07
The, I think it's number four is realtor leadership.
41:13
You know, last year when I looked and I audited all the interviews I did in our YouTube
41:18
channel and I looked at the top 10 and then I looked at the top 20.
41:22
It was like, you know, scripts for realtors, how to, how to gain market share with realtors.
41:27
It was at least 12 to 14 of the top 20 interviews and when I say top, they reviewed the most.
41:36
They got the most likes, they got the most shares.
41:38
It was, it was about bringing leadership to realtors.
41:42
And so I talked about that in my LinkedIn article.
41:45
And then the, the, the North Star, you know, it was number one.
41:49
It is number one is there's a new era in the mortgage industry like this.
41:54
This is not just another year in the mortgage business for by 37 year career in the industry
41:58
rates have gone down.
42:00
And you know what?
42:01
They hit 2%.
42:03
And they, and the years that they hit 2% there were two back to back or trillion dollar years.
42:10
So, so mortgage professionals, real estate professionals.
42:15
This is the first time that the 63% of every mortgage in America starts with two or three period.
42:23
And rates are not likely going to go back to two.
42:26
So the, the number one is the data driven advice era.
42:32
Like it is a new era in the industry because I think real estate agents, listing agents.
42:38
Mortgage professionals are going to have to be data driven advisors.
42:42
They need to know the data.
42:43
They need to educate with data.
42:46
And by the way, 63% start with a two or three.
42:50
There's another 20% that starts with four.
42:53
So that means 80% of every mortgage home in America is less than 4%.
42:59
And what it rates today guys, you know, 6%, 6.1, 5.8, will they go to four again?
43:07
Everybody's saying they will.
43:09
I believe they will.
43:10
I actually think from the people I listened to, that's going to happen this year.
43:14
But remember, people are still at two and four.
43:18
So, you know, the data driven advice era is a macro or major trend number one.
43:26
Okay, data driven.
43:27
So, and by the way, mortgage coach, of course, this isn't a plug.
43:31
It's just, you know, I'm a fan.
43:32
I was a user back in the CD Ram days of mortgage coach.
43:36
So it's a great tool to get yourself self-educated and to be able to, you know,
43:41
showcase yourself as a modern originator who can speak using data to back up what you're saying, right?
43:47
And of course, you've come a long, long way since then with all the awesome tools
43:52
that you guys give each every loan officer.
43:54
How many people are right now looking up CD Ram?
44:02
It's true, man, back in the day, I remember putting that in the laptop and
44:09
Hold it a little days.
44:10
And I still loved it then.
44:11
And it, but it's like, oh my god, it's like night and day, right?
44:13
I mean, like I still people just so you know, I'm fanboying about, I was
44:17
tell people like all those coming to my community.
44:18
And they're, I'm like, yeah, if you're not using mortgage coach today,
44:22
a tool like that to be able to better represent yourself.
44:24
You're, you know, no differentiation.
44:26
I mean, you're, you're just losing.
44:28
You're doing, it's like showing up to a, you know, a painting contest.
44:33
And you're, you got one arm tied behind your back.
44:35
You know, you know, you're not going to do as well.
44:37
Yes.
44:38
Yeah.
44:38
So all right.
44:40
Good stuff.
44:41
Guys, thank you for this.
44:42
Congratulations on the announcement.
44:44
Trust engine, taking the industry by storm, endorsements from housing wire.
44:49
Like this is just, I think there's a lot more to come as we continue to track
44:52
you guys this year.
44:53
Oh, yeah, yeah.
44:55
All right.
44:56
So listeners, there are links in the show notes to everything we talked about.
44:59
Please check those out.
45:00
And I'm thinking we need to have another call, another podcast recording to
45:04
go deeper on what we started with the six trends.
45:08
We only covered two or three of them.
45:09
And there's more there to cover.
45:10
So, all right.
45:12
Sounds good.
45:13
All right.
45:14
Hey listeners, you know what to do.
45:15
If you'd like to set up, so hey, let us know, leave us a review.
45:17
And we'll see you on the next one.
45:18
Bye for now.
46:18
Hey guys, what's up real quick?
46:21
You've heard about the mortgage marketing pro membership before.
46:24
And I just want to quickly remind you, if that you're in a place in your business,
46:27
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46:32
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46:37
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46:38
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