Summary

In this episode of FinTech Fridays, Brian Vieaux interviews Chris Merakian, who leads enterprise sales for Trust Engine. They discuss the evolution of Trust Engine from Mortgage Coach, the importance of data in enhancing the loan officer experience, and how personalized marketing strategies can create meaningful consumer engagement. Chris emphasizes the need for loan officers to have relevant conversations with clients, leveraging technology to simplify processes and improve customer experiences.

Takeaways

Trust Engine evolved from the merger of Mortgage Coach and Sales Boomerang.

The platform aims to provide loan officers with actionable insights based on customer data.

Personalized marketing is crucial for effective communication with borrowers.

Loan officers need to engage clients with relevant and contextual messaging.

The integration of video in presentations enhances customer experience.

Data-driven insights help loan officers identify opportunities for clients.

The platform simplifies the loan process for both lenders and borrowers.

Visual aids in presentations help educate first-time homebuyers.

Maintaining a personal touch in communication is essential for loan officers.

Trust Engine aims to empower loan officers to have meaningful conversations with clients.

Chapters

00:00 Introduction to Trust Engine and Chris Merakian

01:19 The Evolution from Mortgage Coach to Trust Engine

03:36 Enhancing Loan Officer Experience with Technology

07:34 The Role of Data in Modern Lending

10:47 Personalized Marketing Strategies for Loan Officers

14:53 Creating Meaningful Consumer Engagement

18:42 Conclusion and Future Insights

Summary In this episode of FinTech Fridays, Brian Vieaux speaks with Lynn Goss about the Divorce Lending Association and the significant opportunities within the divorce lending market. They discuss the importance of education and certification for loan officers, the emotional complexities of working with clients going through divorce, and the need for compliance and professionalism in this niche. Lynn emphasizes the value of empathy and support in the loan process, as well as the strategies for business development in the divorce sector. Takeaways The divorce industry is a $30 billion market. Loan officers can build a business around divorce lending. Certification enhances professionalism in the family law community. Empathy is crucial when dealing with clients in distress. Divorce mortgage planning can provide financial clarity. Compliance is essential in divorce mortgage planning. Loan officers should collaborate with family law professionals. Education is key to building trust with clients. Nesting is a new trend in divorce arrangements. Leading with knowledge can open doors for loan officers. Chapters 00:00 Introduction to Divorce Lending 03:03 Understanding the Divorce Industry 05:46 Certification and Professionalism in Divorce Lending 08:54 Navigating the Emotional Landscape of Divorce 11:46 Compliance and Legal Considerations 14:51 Business Development for Divorce Mortgage Planners 17:49 Empathy and Support in the Loan Process "It's a $30 billion industry." "This is not loan officer lending 101." "They care about rates, absolutely." "They will be forever loyal to you."

Summary In this episode of FinTech Fridays, Brian Vieaux speaks with Larry Silver, a partner at Mortgage Career Exchange. They discuss Larry's extensive background in the mortgage industry, the evolution of the Mortgage Career Exchange, and the current mindset of the industry regarding recruitment and staffing. Larry emphasizes the importance of personal branding, especially on platforms like LinkedIn, and how the Mortgage Career Exchange aims to create a supportive environment for both job seekers and employers. The conversation concludes with insights on the human aspect of the industry and the need for better support for professionals. Takeaways Networking on platforms like LinkedIn can lead to meaningful conversations. The Mortgage Career Exchange aims to align talent with organizations. Cautious optimism exists in the mortgage industry despite challenges. Organizations should always be on the lookout for talent. The platform offers a safe space for professionals to explore opportunities. Personal branding is crucial in today's job market. Education and training are essential for career advancement. Companies need to treat employees as human beings, not commodities. The Mortgage Career Exchange provides tools for job seekers to enhance their profiles. Consistency in content creation on LinkedIn is key for visibility. Chapters 00:00 Introduction to Mortgage Career Exchange 06:32 The Evolution of the Mortgage Career Exchange 12:56 Understanding the Industry Mindset 18:52 The Importance of Personal Branding 24:36 Closing Thoughts and Future Connections

Summary

In this episode of FinTech Fridays, Brian Vieaux speaks with Matt Jones from the Mortgage Bankers Association about the current state of housing finance, the impact of recent legislative changes, and the future of GSE reform. They discuss the challenges of housing affordability, the implications of Biden administration policies, and the importance of servicing liquidity for independent mortgage banks (IMBs). The conversation also touches on the role of the CFPB and the potential regulatory challenges posed by AI. Matt emphasizes the need for industry engagement and the resources available through the MBA to navigate these complex issues.

Takeaways

• Housing finance is a bipartisan issue with opportunities for progress.

• Affordability remains a key focus, especially post-COVID.
• Supply-side issues are critical for addressing housing affordability.
• Legislation from the Biden administration has impacted new construction costs.
• GSE reform is anticipated under the new administration.
• IMBs face liquidity challenges due to servicing requirements.
• Regulatory costs are a significant burden for lenders.
• The MBA provides extensive resources and advocacy for its members.
• Engagement with Congress is crucial for legislative success.
• AI regulation poses new challenges for the mortgage industry.

Chapters

00:00 Introduction and New Year Perspectives

06:04 Impact of Biden Administration Policies

12:11 Servicing Liquidity and IMB Challenges

18:00 Engagement and Resources from MBA

24:11 CFPB and AI Regulation Challenges

Summary

In this episode of FinTech Fridays, Brian Vieaux interviews YouTube influencer Larry Bailey, who shares insights into his journey of creating niche content focused on mortgage technology.

They discuss the importance of understanding workflows before implementing technology, the recent changes to the Encompass SDK, and the evolving role of Encompass admins in the industry.

Larry emphasizes the value of community and training in navigating these changes and offers practical advice for leveraging technology effectively.

Takeaways

Larry Bailey has 126,000 subscribers on YouTube, focusing on niche content.

He started creating videos to answer repetitive questions in his work.

Understanding workflow is crucial before adopting new technology.

Companies often change their workflows to fit the technology instead of the other way around.

The recent Encompass SDK changes have caused confusion and concern among users.

It's important to document workflows to avoid costly redevelopment.

The mortgage industry has seen a reduction in Encompass admins due to market changes.

Community engagement is key for sharing knowledge and resources.

Training platforms like Mastering Encompass help users stay updated.

Leveraging existing technology can lead to better workflows and efficiency.

Chapters

00:00 Introduction to Larry Bailey and His YouTube Journey

02:48 The Importance of Workflow in Technology

05:32 Understanding Encompass and Its Impact on the Mortgage Industry

08:27 Navigating Changes in Technology and Workflow

11:20 The Future of Encompass and Industry Adaptations

14:01 Community Engagement and Resources for Encompass Users

16:43 Conclusion and Final Thoughts

Summary

In this episode of FinTech Fridays, Brian Vieaux welcomes back Spencer Dusebout, CEO of ADM, to discuss the evolution of the company, the importance of bridging the gap between enterprise needs and producer autonomy, and the role of data in enhancing loan officer performance and consumer engagement.

They explore how insights derived from data can change behaviors, the future of loan officers in a relationship-oriented market, and the current trends affecting the mortgage industry.

Takeaways

• The rebranding of ADM reflects a focus on bridging enterprise and producer needs.

• Data silos in mortgage companies hinder producer performance.

• Automation and data insights can significantly improve loan officer efficiency.

• Engaging consumers with real-time data can change their behavior positively.

• The relationship between loan officers and consumers is becoming more critical in today's market.

• Loan officers need to adapt to a consulting mindset rather than a transactional one.
• The current market presents unique challenges and opportunities for loan officers.
• Understanding consumer behavior is essential for effective engagement.

• The importance of continuous adaptation in the mortgage industry is paramount.

• Collaboration between platforms can enhance overall consumer experience.

Sound Bites

"How do we bridge the gap?"

"It's been a formative year for us."

"Data is a path to change behavior."

"Let's make it happen quickly."

Chapters

00:00 Introduction and Company Evolution

04:03 Bridging the Gap: Enterprise and Producer Needs

08:09 Data-Driven Insights for Loan Officers

12:10 Enhancing Consumer Engagement through Data

16:03 The Future of Loan Officers and Consumer Relationships

20:04 Market Trends and Industry Adaptation

Summary

In this episode of FinTech Fridays, Brian Vieaux interviews Bruce Gehrke from JD Power about the 2024 Originations Customer Satisfaction Survey. They discuss the survey methodology, shifts in consumer preferences towards personal interaction, and the importance of early engagement in the home buying process. The conversation also touches on the satisfaction levels of first-time home buyers and the role of loan officers in enhancing customer experience. Bruce dispels myths about JD Power's client relationships and emphasizes the value of data access for lenders.

Takeaways

• The JD Power survey uses independent panel providers for consumer sampling.

• Consumer preferences are shifting towards more personal interactions with lenders.

• Over 92% of borrowers now prefer some level of personal interaction in the mortgage process.

• Engaging with lenders early in the home buying process leads to higher satisfaction and loyalty.

• First-time home buyers report higher satisfaction than repeat buyers in the survey.

• The mortgage industry is adapting to higher interest rates and changing consumer expectations.

• Lenders that provide advisory support are seeing better customer satisfaction.

• JD Power clients gain access to comprehensive data and insights for performance improvement.

• The survey results reflect broader market trends and consumer needs.

• Understanding competitive context is crucial for lenders to improve their services.

Chapters

00:00 Introduction to JD Power's Survey Results

08:07 Shifts in Consumer Preferences

14:19 Industry Adaptation and Customer Experience

20:49 First-Time Home Buyers Insights

Episode Summary:

In this episode, host Brian Vieaux takes a unique detour from traditional fintech discussions to explore how T-Mobile is addressing financial and digital inequities in education. Brian welcomes Sephali Thakkar, an Education Ambassador and Solutions Innovator at T-Mobile, to discuss the company's initiatives to bridge the digital divide and support under-resourced schools and communities through technology, connectivity, and sustainable funding strategies.

Key Highlights:

1. Digital Equity and Financial Literacy in Education

The Challenge: Disparities in funding between public school districts often leave under-resourced communities without essential connectivity tools for education.

T-Mobile’s Role: As a long-term partner in public education, T-Mobile collaborates with schools, charter networks, and nonprofits to create sustainable funding models and close the digital divide.

2. Practical Impact on Students and Educators

Sephali shares examples of T-Mobile’s support for STEM and digital literacy programs, such as providing connected iPads for students in nonprofit initiatives like STEM-focused girls’ camps .Collaboration with libraries and after-school programs extends digital tools beyond the classroom, empowering students to become creators of content and digital citizens.

3. Addressing the Digital Divide

Brian and Sephali dive into the stark contrasts between well-funded suburban school districts and underfunded urban districts. Sephali explains how T-Mobile works to level the playing field by leveraging federal, state, and nonprofit funding to ensure access to technology and connectivity for all students.

4. Preparing Students for a Digital Future

Digital Citizenship: Encouraging students to use technology responsibly and creatively while teaching ethical considerations, including appropriate use of AI.

Lifelong Learning: As digital natives, today’s students need tools and mentorship to navigate an increasingly connected world.

Community Partnerships: T-Mobile brings together stakeholders from nonprofits, local governments, and corporations to tackle educational inequities collaboratively.

Key Takeaways:

The digital divide is a significant barrier for under-resourced communities, exacerbating existing inequities in education.

T-Mobile is more than a telecom company—it’s a solutions innovator helping to bridge the gap through technology, collaboration, and forward-thinking funding models.

Educators and industry partners must work together to ensure students are prepared for a digitally connected future.

AHA Moments:

Sustainable Partnerships:

T-Mobile collaborates with nonprofits and local organizations to stretch funding and deliver meaningful impact.

Empowering Educators and Students:

Sephali emphasizes the importance of turning students from content consumers into content creators.

Digital Citizenship:

Building digital literacy is just as crucial as traditional literacy in the modern educational landscape.

Resources Mentioned:

T-Mobile for Education:

Learn more about their programs and initiatives here.

Follow Sephali Thakkar on LinkedIn:

Stay updated on her work and thought leadership in education and technology.

Closing Note:

Sephali and Brian end the conversation with a commitment to continue exploring innovative solutions in education and a promise to reconnect in the future to share new success stories.

Next Episode Teaser:Tune in two weeks from now for another exciting episode of Fintech Fridays!