[00:00:00] Speaker A: Welcome to the Mic Dupp show, the ultimate hub where the hidden stories behind the industry come to life. This is season five of the Mic'd up show where we say every mortgage has a story. My name is Michael Kelleher, and in every episode we dive deep into the entrepreneurial spirit, the strategic insights and the breakthrough innovations that build the world's greatest mortgage companies.
So whether you're advancing your career, scouting for industry leaders, or exploring opportunities in mortgage lending, real estate, fintech or prop tech, you're in the right place.
Get ready to unlock the story behind every mortgage. Let's dive in today with Quinton Harris, who has spent more than two decades in mortgage. I ran across him when I was working with companies who were forward thinking, willing to build a mobile app when he was with bank of England.
And he always has come across as somebody who understands sales, understands sales leadership. And he was mentoring loan officers then. He's been mentoring and leading loan officers since. If you look at any of the reports, he has one of the fastest growing mortgage companies by sales people.
He's mentored more than 200 loan officers, I'm sure, and we'll hear more about it. He's driven in billions of dollars in production with companies he's led.
And what I'm excited about, if you follow our LinkedIn channel, adopt the brand, is the lack of ability of loan officers to get beyond that fifth episode or their 21st episode. He Quinton is up to over 260 episodes of a podcast called what's your one more?
And he uses it to speak to the general public on purpose. Leadership, discipline, growth. And every couple episodes he will give antidotes on how people are getting into homes or how real estate can be a strategy. So Quinton Harris, chief strategy and growth officer at Texana Bank Mortgage. Texana Bank Mortgage, with that huge introduction there can do you want to just kind of recap what I said and how you maybe back to the bank of England days, how you got to there and then we'll get into how you. You were able to get to where you are today.
[00:02:20] Speaker B: Yeah, absolutely. Mike, thanks for having me on the show. Congratulations on the fifth season. As a fellow podcaster, I know how tough that can be. You named it, man. Going past that seventh episode, you know, I think there's over 3 million podcasts out there and about 2.3 million of them are in the graveyard. So, you know, anytime you can make it beyond that, hats off to you. That's quite the achievement and it's an honor to be on Your show today. Thanks for having me. And it's just great to be here. So, yeah, just to kind of fil. Filling some of the gaps, you know, as you mentioned, been doing this for over two decades, which is a life sentence in the mortgage industry. You just don't see a lot of us in here doing it for that long, you know, so you kind of dip their foot in. Got out during the downturn of 08.07, you know, and got back in back during the glory days there of 19, 20 and 21. And, you know, to be one of those individuals that's been there for a long time, strictly originating, being in that footprint of mortgages, it's a little bit of a rarity, but it also makes for a cool fraternity being in the group of people like that, like yourself. So, again, thanks for having me on the show.
Just, you know, kind of filling some of those gaps you mentioned earlier. You know, started day one out of college, graduated University of Tennessee. Go Vols. And you know, from there, it was literally right into mortgages. That's all I ever knew. And in 2002, you know, it was kind of a wake up call. There was a hiring freeze going on. I had a huge run up with a large bank to kind of get in their maps program, which is like a mortgage, excuse me, a manager training program. Sounded great. And then the hiring freeze happened and no one wanted to talk about that. So mortgages came a call. And like, anybody that you'll talk to, once it's in your blood, it's in your DNA, man, and you don't get out of it, find your way in there and it's kind of here we are. And for me, the thing that drove me the most about this is that, you know, I grew up in a household where renting was the normal. And, you know, for years, my parents, you know, they struggled, but they. They always provided. But it was a tough environment, moving house to house and renting in different school districts. And so being able to kind of create the American dream for other people, you know, not only was, like, comforting, but it was cool to. And it made me recognize at a young age, like, homeownership is something that is pivotal. And so, you know, at a young age of 21, I bought my first home and it kind of took off from there. And that's why I'm so passionate. You know, fast forward here with our podcast talking about teens in real estate. When you see the national averages is at 40, then you're like, dude, that cannot be okay. That is not right. So it's a very big passion project of mine to go out there helping young people buy homes. Whether I do the financing or we educate the parents, it doesn't matter as long as they go out there and kind of become a homeowner. And so in 21, I worked for a company called Ace Mortgage Funding quickly rose to the top. I had a very good group that helped kind of show me the way and became the number one loan officer for them in 22. And like anything in this business, it's promotion by production, right? Whether that's right or wrong, you get this promotion. It's like, oh, you're a producer, go be a manager. And at the age of 23, they're like, handed me the keys of the kingdom. By the way, that's not a good idea. But that's what happened. And learning on the job is not the best place to be. And I did, you know, I made some major mistakes. I was fortunate to be paired up with a great partner at that time who was a lot older than me. Kind of showed me the ways with some things.
But, you know, at 23, you're, you're just making pivotal mistakes. You're managing people that are, you know, 35, 40 years old. And sometimes you handle that with grace, but most of the time you don't. And you grow up a lot on the job. And so by the time I was 28, 29, I had decided to step down from Ace Mortgage, kind of open up my own operation. And boy, was that a great time to do that right in the thick of 08. But did that and, you know, it was, it was a definite, a wake up call. The, the mortgage world will humble you real quick. And it did it during that time. But, you know, we survived and we knew what we wanted to do. Myself and the people that kind of helped come over there and start that business with me, it was a mortgage brokerage operation. And we ran that for about a year and a half until we met bank of England. And we knew we wanted a federal bank charter. We were able to get a state charter with bank of England, which gave us a footprint in all 50 states. And it was a, it really was like a match made in heaven. In 2009, I joined them June 15, 2009. I was there for a little over 17 years with, uh, we had an amazing run up, quickly became one of the largest branches and not the largest branch in the entire company and dominated the charts with them. We were very successful. I mean, at our heights. We were in the, you know, $80 million a month range. Uh, we were doing some pretty amazing things. And I think that the turning point for us was in 2011 when we decided to break away from the norm and not hire or focus hiring on people that were at other companies. You know, this. This industry has a trend of, like, wanting to recruit person or people that are other companies and bring them over here. And, you know, to me, that was a cycle that was revol. Revolving door. It was very hard to kind of build a foundation on that. So we took the approach of going out to colleges and recruiting young graduates, bringing them into the industry, showing them the way. And it's pretty cool because if I look around northeast Florida and parts of central Florida, I kind of feel like I have this Nick Saban tree of individuals that are no longer working for me, but are killing it out there and doing high levels of success. But they were top producers when they were underneath us. And we kind of taught them how to build businesses and taught them how to go out there and recruit and taught them how to build teams. You know, we were always known as you. If you want to be in a team, you go over to bank of England. Those guys can build a monster team. And we did that with a lot of individuals. And, you know, unfortunately, things happened at bank of England that are beyond any of my control. You know, like all good things, they come to an end. And I found my way over to Texana bank, and it's been a wonderful blessing to be here. They brought me in as a chief strategy growth officer, gave me the opportunity to kind of run the mortgage division and help grow it and grow their products that they have out there. And one particular program called rimlo, which I know we'll talk about later on after commercial break. But, man, super pumped to be here and just excited a chance to share the story a little bit and talk a little bit with the audience here at Miked Up.
[00:07:57] Speaker A: I find the coaching tree part interesting. The industry does not always take your model, obviously, of training up because they are worried people will be other places.
What is your advice to someone thinking of building that team and getting over the fear of assuming they're going to leave at some point.
[00:08:22] Speaker B: Yes. So we used to have this mantra that los either move up or move out. Right. And what I mean by that, before we started looking at the college route, was if you're an ello and you come somewhere, you're coming over there for two reasons. Usually it's. Usually it's going to be for Pay, right? You're getting a higher payout or the rates are better, you think you can close more. All that equates to more pay. Or the second one is you're coming because there's somewhere there's a growth ladder for you to move like you have the opportunity. Because in the lo world, it's losing maybe sales manager, team lead, you know, whatever, branch manager. And it kind of stops there in the retail platform. I mean, unless you get into a larger institution where there's regionals. And even then it gets a little sticky because the rates are padded by those layers of management. But I've had people tell me there can only be one president of a company, right? And there's like 15 loads that want to be that person, but it's just not going to happen. So I feel like whenever an ello has a limit put on them in the form of growth, and growth isn't always financially, it's just personal growth.
We all have a little bit of ego inside of us, and some of it's bigger for others than it is for, for some. But if that's not satisfied, they're going to go somewhere else to someone that tells them they can satisfy that. And whether that's the truth or not, that's the recruiting reality that we're in. And so it's hard to fight that battle because as much as you generally want to help all 15 of those individuals in this scenario, you just can't do it right? And not everybody's just going to understand that. So they're going to move on by hiring new blood into the industry. It comes with a lot of different byproducts you're not normally accustomed to seeing, meaning that it's going to come more enthusiasm about having that first job, and it's going to come with the knowledge of, okay, whatever this underwriter asked for me or whatever, you know, my, my upper management tells me, like I just go do it to, to get the loans closed. And by no means am I saying they're subservient. I'm just saying that they don't have any habits in history to tell them different. And so it does make that growth process a little easier as a foundation. But also this person can go from entering at the ground level. They're not expecting to come to ups, be the truck driver and the president in one year. They're just not expect expecting that. They're expecting a growth ladder. So if you provide that growth ladder for them, you know, at the entry point, you can give them years of growth through there. And, you know, it's great. It's a great relationship and gives them an opportunity to grow. And then at some point, you got to recognize that some of these individuals, they're going to expand their wings whether you like it or not. You know, of course you don't want them to leave, but if they leave and they're bettering themselves, like, this is the hardest thing I had to understand. And it really took me a long time to get to this, and by no means have I perfected it. I don't think anybody can. But if someone leaves, leaves and they leave to better themselves, and I truly mean that. And it's not just to go take a. A title in name only. You got to be happy for him and say, listen, at some point, you. You assisted in that. Right? And that's a cool thing to see a coaching tree, you know, go back to that old Saban Croatian tree, is that, you know, when he's had many coaches go different places. Yeah, maybe. Maybe one day, he's like. For one day, he's probably like, crap, I got to get over this and find someone else. But at the same time, he also knows that's an opportunity to put someone else back into the system. We have to kind of look at that the same way. And that's a lot easier said than done, by the way, because branch manager or a company, you look at that production loss and you're like, crap. I just lost that. And if you're not constantly recruiting all the time, you can't feel that right away.
I had a really good friend of mine, you may have heard him, John Gordon, who wrote the Energy Bus.
And so I hired John as a personal Coach back in 2005. He was actually on my show, episode 40. We talked about this when I hired him. When I met him, John had not written. He had written Energy Bus, but he had been turned down by 22 publishers. And he gave me this manuscript. I remember reading it. I was just blown away. I ended up hiring John, and at the time, he was working with Pete Carroll at usc. And I told John when I was at Ace Morgan, he's like, what's your biggest challenge? I'm like, dude, we have loan officers for about two years, and then they move on, and we got to redo it again. And you just. You never build a foundation. You're constantly churning in the revolving doors. It's tough. And he was like, well, it's two things. Number one, it's your culture. It's always going to be Your culture, that's why they leave. And he's like, number two, you're not recruiting enough. And he goes like Pete Carroll, this is before nil deals. You had to be constantly be backfilling that pipeline of individuals. So you've got to find your next farming system for it to do that. And it, it, it took a couple years for that to click, but when it did, I recognize that I, I can control some of those things. Number one, I can build a culture to where people don't want to leave. I can do that. That's up to me. I control that. And then number two is where do I find the farming system? And for me it was the, the ultimate answer was at universities, always be recruiting, always bringing people into the channel. So I think those things kind of helped me cope with that a little bit better and helped me not so much worry about building talent and talent leaving because it, it, it, it really, if you give them a reason not to leave, they'll stay.
[00:12:58] Speaker C: Yeah.
[00:12:58] Speaker A: And I think on your Nick Saban side, there's a quote media by, by Nick. Mediocre people don't like high achievers and high achievers don't like mediocre people.
It seems to me in the mortgage industry you're not going to be able to get all high achievers. It is always a mix of high achievers and mediocre people. So it goes back to coaching of putting the people in the best position to win with the talents they have. What do you.
Did you have early indications of who was going to be a mediocre person and what position you'd put them in versus who was going to be a high achiever and a different route you were going to take them as you were building these teams.
[00:13:40] Speaker B: Yeah. So we always talked about it. You know you can only have 11 men on the field at a time. Right. And so not everybody can be the quarterback, so we all. Or the wide receiver or the running back. Right. So you had to have some linemen and you had to have blockers down the field. And so for us you had to recognize like your top tier talent individual is a top tier talent individual for a reason.
One comes to mind. For me, I say his name right now. He was a robot for us. And literally it showed when we went through training, it showed through production.
To hold comparison of why aren't you like this person to other people inside your organization is unfair like you would. You just cannot compare someone to that because you're going to set everyone up to drive themselves crazy or for failure or they're going to quit. Right. And if you're constantly putting that person as a measurement on a pedestal, again, people are going to throw their hat in the ring and be like, I'm never going to be this on to the next organization.
So what we did is we always said measure by your strengths, measure by your capables. Right. And this person who happened to be this robotic individual, wasn't married at the time, didn't have kids. Hard to compare that to someone that has responsibilities outside the organization that they have to do. So what we always try to do is say work within your means. Right. And we always had had minimums never set per contract. But if someone wasn't doing their job, that's different than comparing them to someone that's off the charts. Right. So we always try to pick a lane that the person was successful in and compare them to that never to like the top performing individuals and how that's going to work out.
[00:15:09] Speaker A: So they have the benchmark. They are something to sort of understand at. At some point there's probably a fork where they want to be originating more units, making more money.
[00:15:21] Speaker B: Sure.
[00:15:22] Speaker A: Or their goal is to get into management so they have to make less uncomfortable calls. Because you have to get out of your comfort zone to get to each level. To level up is did you create pathways for both paths or was it just be better and we will, we will grab you when the time is right.
[00:15:43] Speaker B: Yeah. Never. It never failed, man. It's like a cadence. You could. It was so predictable that if one person got a team member, there was like a group of people that like, oh, I want a team member. I want an loa. I want this, I want that. So we had to create metrics for that.
Other than the fact of, oh, hey, you get one, you get one. It was not like the Oprah show. Right. So you literally have to say like, hey listen, here's the metrics. You show me that you can achieve this. Well, I always use my favorite term was create the problem. I promise you I'll go find the solution. Like just give me a problem to solve, I'll find a solution. Sitting around saying you got the I once is not a problem.
So that was our biggest thing is, hey listen, comparing you to your peers, peer to peer comparison. Just like banks are, just like I IMBs are, you know, how does it look? Right. And if you're comparing yourself to lob over here who's doing 4 million a month, who just got an assistant. Well, this makes sense. But you're Doing two, two and a half. What are we talking about here? Right. So it was easy to set metrics on that and standards. And then as far as moving up into management, it always went to, hey, who can you mentor? Right. Because part of managing a lot of it's mentoring. And if you can't mentor someone new, we brought into the organization. Like if you brought them in and they're just floundering, you know, you're probably setting yourself up for what it's going to look like when you get into management. So we always had test cases.
Whether they knew it or not. You know, everybody was. Everybody was being tested, including myself at all times because it was just an opportunity to show that you could rise up to the leadership.
[00:17:04] Speaker A: I think you have a really great understanding. So for the audience I am Talking to more IMBs and trying. They're asking and we're consulting a little bit on. They're a traditional retail mortgage advisor. If I was going to advise them, I would say focus. I always say own your zip code. Focus on your zip code. You're too spread out in your ideas. But I think they are understanding the world is moving to where and it's. We're about to get into this in your opinion, because it's hard to lead this way. But it would make sense for them to have an arm that is more transactional. Consumer direct, maybe better pricing. Our industry does a very poor job of rewarding repeat business.
Real estate agents do too. But why you pay the same amount of BIPs on your second and third deal and your fourth deal is making it very difficult for a customer for life, in my opinion. But I. We still have to go within the models to figure out how to get there.
My guess is after you have the advisor part and the local referral partner and the consulting. There are certain types of loans when you're refinancing and you're really just repeating for a lower rate where maybe just more transactional speed and better pricing would be rewarding for them.
I say this because I believe Texana bank has both models. There are branches that are more transactional and find people in the need and convert and correct me if I'm wrong. And then there's ones that go out there and hunt what they. And they sponsor Little League and they're able to bring it in and maybe, I mean probably at a higher. A little bit higher of a rate, but you get better advice and save hundreds of thousands by making the right decision. What is your recommendation for these IMB leaders to not stand still, like a deer, you got to keep moving and sort of understand is it possible for them to, to bring in a consumer direct part for their servicing, for their repeat business? Or is it one of those where you just think if you don't get it, you don't get it and you're going to lose too much money on that side before you realize it works?
[00:19:15] Speaker B: You know, I think for the IMBs there's a, there's definite, a squeeze on that side that's taking place.
I would venture to say. And I mean, I don't know.
[00:19:24] Speaker A: Right.
[00:19:24] Speaker B: But I would venture to say that I think, think if maybe some closer looks were taken at some of the IMBs, they probably have, they probably have a solution for that inside those channels. You know, I bet it's there.
But what I would suggest is this is that I think including us, we can't be naive to the fact that some of the major players in the industry are saddling up with large portfolio servicers. Right. And by doing such it's giving them the ability to call anyone inside that portfolio, thus avoiding the trigger rule that's taken place. There's a loophole in that for them.
Well, as let's face it, they probably got people in a call center making anywhere from 10 basis points to $250 a closed loan. It's going to be tough to compete in current models with that price compression when they start throwing out there the money that they can and rate to buy that, to keep that suppressed so they can get that customer back in the fold. And that's exactly why they're doing it. So if you don't have a plan, you need to get one.
Because it's going to be tough to keep your current book of business.
When some of these servicers are that are servicing a loan, the master servicer is going to coming after it as well. I mean you just be foolish to think that's not going to happen.
[00:20:34] Speaker A: I think the only piece that maybe is not vulnerable to this is the purchase business. You've really leaned in, into purchase all the years you've been an originator which has given you the knowledge base to sort of provide a, a niche on this new REMLO program. I think now is a great time to tell us about it. It, it's not something that the idea of it is out there. Right?
[00:21:03] Speaker B: Sure.
[00:21:03] Speaker A: The way you're doing it is unique in the ability to actually not just hang a license with the real estate agent, but actually having them be part of the team and actually make Their customer experience better, more dollar for the can go a longer way for their customers and they can make money along the way that can reinvest into the Texana group itself so that you can continue to grow your market share and footprint. Can you.
Can you break down like how the idea. The stuff that fascinates me is like what. Where were you when somebody brought it in on your desk and said quinton, we should do this? And then who did you meet with? Like, was it. I t was a compliance. How did that ideation come into a.
An actionable plan? And then I'll ask a follow up on how it's doing today.
[00:21:51] Speaker B: Yeah. So I'll say this. That is the program that lured me over here coming out of that. That bank of England debacle with some direction of. Of what are we going to do? That that was it. They had already had it on the roadmap. They had currently been implementing it.
RIMLOW program is a. Is a pending trademark program that stands for Real Estate Mortgage Loan Originator. It's based on the dual capacity memo that HUD released in November of 22. Dual capacity is something that's been around for decades, right? Agents could always be an originator acted originator capacity. On the conventional side, it was always the government side that was the challenge. And you know, with the exclusion of RD here recently, you've been able to take advantage of that on the FHA and VA side. And so I think that, I think the thing is this, is that people always ask me twofold like, well, why did this happen? Why did it take till 2022 for this to happen? And, and I like to joke, like all things government, nothing moves fast. But the whole reason that was in play was because prior to the lo Comp rule taking place, we all know it was orig when you were getting paid on SRP and you were getting paid on fees up front, the service release premium and the yield spread on the backside of a government loan was. Extent was. Was different, far different. Just like when you do trade, sometimes on the secondary side it's a. It's a higher premium. Right. And so you technically could have, I don't like using this word, maybe not steered, but directed someone more favorably to a government loan to get paid more. So if you are the agent and the loan officer, there's a conflict of interest there. Well, once the lo Comp rule went Into Place in 2010, we all know what happened. You get paid on volume regardless of product, blah, blah, blah. Here we are. But it took HUD till 22 to go. Oh, crap. This is an old rule. We don't need anymore. So they got rid of it. But a lot of the industry, when it came out, took it as, I can't believe they're letting them be loan officers. This is crazy. And, you know, a lot of people, I mainly point to mortgage brokers, you know, jumped right in right away. Right. And a lot of mortgage brokers that are producers and managers are also their own compliance department, let's face it. And. And that's not a knock. That's just a fact. Right. And so they'll jump in independently and run with it. And to me, that's one the biggest challenges that, you know, we've had moving into the market as of 25 and 24, was that we were dealing with some people's preconceived notions based on some of those introductions that were made in 23. And so instead of jumping in 23, you know, legal counsel and of Texana got with other players in the market that had connection ties and regulatory bodies and said, hey, let's firm up a product. Let's see if it'll pass any of the tests, and then let's. Let's take it to the market. And that's what they did. So they built a Runway. I think, think it's further advanced than anything I've ever seen. The way that they pair up with a real estate agent and they. They adhere to the rules that hud provided from 1998's guidance of that of an originator. And what we found under those guidances is that a lot, if not all of the things that HUD requires a real estate agent does automatically, they do it right now, even. Even if they're not even licensed, they're doing licensed originator, unlicensed originator activities. And it's just because it's what the industry has moved towards. It's not because they're trying to do anything irregular. They just do it naturally. So for us, it was an easy trans to say, hey, listen, you're already doing a lot of these items, and the one thing that we think you're not doing, we. We can show you how to do real quick, real fast. And in doing such, you become a W2 employee of Texana bank, and now you're at ground zero of the loan transaction. Because we know a lot of agents deal with the last minute we got a problem. And it's always like, well, why am I just now hearing about this type conversation? Well, now, you know, when it happens, you're at ground zero. You have access to underwriters and, and I tell agents all the time that are like, oh gosh, I don't, I don't want to be involved in with the underwriting process. And I, I don't know that I'll be able to know all the guidelines. I'm like, guess what? There's only one position in the whole bank that needs to know underwriting guidelines, that's an underwriter, because they're the only ones that have access to sign off on items. So originators, you know, don't have to know that. Some loan officers have learned them over time, but it's not because they dove right in and said, I'm gonna learn all these products. They just have learned it over repetition over time. So it's just become second nature to them. But as we tell the rimlo, you're gonna be paired up with an experienced loan part loan partner is going to have a lot of those access to those things that you're worried about. They're going to know to help assist during the process. And in today's world, post Covid, everything is done online now. I mean, you know, we used to, we used to make it mandatory, you know, talking about bank of England. You had to come in the office to sign the respite docs. We needed to be face to face. Those days are gone. So everything is online and everything is transactionally different than what it was. So this process that we have in place with our rimloads is just a natural progression of where the industry's head headed.
[00:26:25] Speaker A: The talking heads that I talk to, I think sometimes kid themselves on the speed of a purchase transaction.
If you're coming to me, Quinton, I'm just pre qualifying you for how much you can go out.
There's plenty of time between then and when you find your property that I can go talk to the you of Texana or the underwriter and actually get into the details of, of what would be the best program. Plus, I'm going to be driving you around too, to show the property plenty of time to find out more about what you're looking. Do you think other parts will, will go more online? Like where do you see homeowners insurance going? That's going up. Do you think that will be sold by the same agent? Like how do you look at?
Or do you think it'll be just one huge waterfall of many, many choices in the future? Future?
[00:27:19] Speaker B: I think it's state specific. I mean, you look at Texas, Florida, any of the coastlines it's insurance is a challenge, you know, a California challenge right now. I mean, we have providers that are pulling out weekly lines of, of insurers that are leaving the states because, you know, it doesn't make sense for them to insure anymore due to the, some of the natural disasters that have happened. Right. And the ones that remain have just raised. It's almost like the Mafia, they got together and raised the cost together one day and everybody got a, you know, an increase across the board and you shop it and everybody says the same.
So it's a, I think there's certain states that insurance is actually making affordability much harder than it should be. Florida being one of them, Texas and California. I mean, I'm sitting in one of those right now in our studio with you. And you know, it wasn't three years ago everyone in Florida woke up to almost an 80% increase in premiums.
And that's something that really hasn't come down since then. Even though we're slowly getting more providers, we're not getting the relief to go with it. A lot of that has to be state legislative, you know, put in place to kind of protect the homeowners. They're working towards that. It's just not done yet. To answer your question about a waterfall, I mean it's. I actually asked a couple of agents that I know throughout the country. I'm like, hey, what, what can we do?
What can we do to like just plug in a certain amount of information into encompass and you kick out some of the best quotes, kind of like that progressive commercial. Right. There's just so many factors that go into a quote to make it like it's almost worse than a mortgage. If, if you're not getting all the details, which as loan officers we're never going to ask those questions, we don't know them. You're not going to get a, a waterfall kick out. So it's really going to come down person calling their insurance agent going through it and it's going to always be some sort of insurance provider in the middle there doing that.
[00:29:00] Speaker A: But do you think consumers like those new platforms where you can at least get a basis point, like understand what the national quotes are. So when you call your local person or if you get a little bit procrastinating, you can just go with one already kind of put there for you is that I'm assuming that there's different name brands, different flavors to the ice cream. But that seems to be be an example of what you were saying where home inspections, insurance A lot of this at some point will be online.
[00:29:32] Speaker B: Yeah. I think insurance is one of those products, like no one wants it till you need it. And so I think everyone shops for the lowest and then recognizes when you need it that might not have been the best. So it's. It's hard to convince a borrower in today's world that the lowest everything is not the best. Right. You're always fighting up against that race to the bottom. So I don't know, I think it's almost a dangerous proposition to put that front of them just like this. Think about it. When borrower go. When a borrower goes looks at rates online, the disclaimers are so little, they don't know. They can't even see it. Right. So they don't know that there's two and a half points associated with that rate. They just see that rate and they want to know why they can't go get it. You know, we tell borrowers all the time, like, you give me a quote, I'll go find a lower one real quick. Every single time. But the details, the devil's in the details and they don't care. You cannot explain that to them enough. So I, I think with insurance, it's going to be even worse, quite honestly.
[00:30:20] Speaker A: Yeah. I think we're trained now to go lowest price. We have a.
We have a projector we got on Amazon. It's for the price. Unbelievable.
[00:30:29] Speaker B: Beautiful.
[00:30:30] Speaker A: Up against the wall. But no one really like the details in that piece would be the volume on it. There's no external speaker, so you have to be real close to it. So you got a great big view, but you can't go too far into
[00:30:44] Speaker B: audio plug in and the bowl breaks after two runs. Runs.
[00:30:47] Speaker D: Yeah.
[00:30:47] Speaker A: It's like somebody I talked to, their. Their sub pump broke. If. If your sub pump's not covered, you didn't know you need it till you need it and you can't go back and get it. So, you know, I think we. We do have a. Some vendors in this space and in other spaces that try to make either the lender's job easier or the consumer's job easier. We have added three new sponsors to our show because we're able to get some great unbelievable guests like Quinton. So. So we'll take a quick break and we'll be back in a minute or two on the other side to find out Quentin's view of where the industry's going from a technology perspective and get your popcorn ready. We're going to talk about podcasts.
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[00:34:44] Speaker A: Well there you have it, some amazing sponsors. Covered Insurance does a lot of what I was speaking about and there are ways to embed the insurance into the process.
You're going to see many different ways to almost insert like an assembly line, right? So say you're a Winery, you have the wine goes into the bottle, then the label gets put on and then, then the cork goes in it. And say you decide you want to start testing the acidity of it, then you would insert that into the conveyor belt. You don't do it separately.
Quinton's doing a lot of this with the new point of sale he has been working on. Where you have your traditional, then you have your Quinton ideas and then out of left field, now you have AI and now, okay, not you don't have to bring the loan and bring it over to the AI factory and back tech. The AI now just goes into the line. And I think, I mean this is the future.
Lenders with the ability to not focus 90 on the tech and 10 on the customer's optionality will lose the people that are 50, 50. Keeping it in mind because the, the AI can move much faster than the consumer side. So if you accidentally work too hard on AI and you wake up, you're eight football fields ahead of where you can take the actual.
You got to kind of coach consumers. And you know that better than anybody.
[00:36:20] Speaker B: Sure.
[00:36:22] Speaker A: So tell me about when you decided to really get into helping build this idea of ideation to disclosure, we'll call it, versus just letting the vendor do it completely and trusting. That's. That's where you wanted it to end up.
[00:36:39] Speaker B: Yeah, I think, you know, when you hear AI, there's a couple different ways to look at that. Right. I think a lot of people think of Chat, they think of Gemini, all the platforms. Right. As AI, you know, data in, data out.
On the lending side, there's a couple of components we have to take into consideration when we think about AI. Number one, sometimes AI gets misconceived as automation and people call it AI, but it's really just automation and that's not really AI. That's just moving things along at a faster rate. Right. Allowing more workflow per unit user. The other one is what are your AI policies?
And are you putting a customer's information in a space that A, they give me permission for, B, is it non public private information entering that space? And C, do you control that space? And I think that's something that a lot of lenders are not asking and the ones that are asking are not in the AI space because they're asking that question. Right. And so I think that's real important. Important. And so, you know, for the record, our AI space is in pilot. We have not released it because we are building a governance and a compliance feature on the back side that is going to protect everything I just described. And currently it would be, from what I understand, the first of its kind. And you know, when you take a look at the agencies, meaning Fannie and Freddie, they have that ML policy, right? That's, that's what they call AIs, ML machine learning. And they're very, very upfront forthright about what they think about that and measurements and things in safet soundness that you have to do. And I think it's a reason why you don't see so many larger institutions in that space.
Again, I'll go back to maybe the broker and I'm not picking on brokers, just a reality. You're a producer, you're a manager, you're the compliance department too, right? So you're jumping all in AI with this space. But you know, I see a lot of people online saying, look at what Claude did for me, look how it changed my life. Real estate agents included. Like, did your borrower, did your customer give you permission to put that information in there? Or did you just do it thinking it would help you out? I personally, I look at could this be the next, you know, could this be the, the next field of people lining up down the road for a potential class action of their information being put into a space that they didn't give you permission to?
I do think that's a worry in our industry and I think some people worry about it more than others, depending on what's at stake.
But getting more into where we're going with that is if you can build something that is compliant and governant and stops that from happening, you own that space. It doesn't leave, it's encrypted. It stays inside your organization just as if the customer put their app inside your organization. Nothing's different. And I think that that's the big challenge that I think a lot of people are facing and I think we have found a very unique solution to that. And the team that we've partnered up with, that has been incredible over at Mortgage Automation Technology and I think that that group, hats off to them, is paid in the way, right? And I think that's going to be a big difference in how this is done. Um, but when you go back to your, your question about point of sale, AI and technology, I think that the customer, there's, there's, you know, we deal with all ranges of customers in the mortgage industry, right? Ages, all different generations. I think there's certain generations that want nothing to do with AI. Heck, sometimes they don't want to put their information online. You know, that's going to be a very resistant group and you learn to adapt and, and, and help them out. Right. Then I think there's a group that's comfortable being online line but don't want anything to do with AI. And then I think there's a group that could care less either way. Right. The younger generation coming through is not as, as, as they're, they're not as worried or consumed with it as, as maybe the other generations. But I think that putting that information online has become the norm for a lot of people. I'm willing to bet that making up a statistic here, But I bet 85% of all applications are put online at some point. And then I think that this new, it's called agentic AI, that's the term that I hear used out there is where the, maybe the customer is talking with inter AI, you know, an AI rep or an online AI questionnaire and filling out a mortgage app. Right. And I think there's going to be resistance to that amongst more people than, than adopted. But at the end of the day, what you can do though is you can create a workflow that is more powerful for the user, the person that's actually doing the loan and the processor doing the loan and provide a superior customer experience because of that. And I think that there's things that you can do. You know, your commercial with True Work was a great example. Now you're syncing up borrower information to the loan app. You' gathering that therefore the borrower doesn't have to provide pay stubs, they don't provide W2s. You're probably going to get a day one certainty, which makes the underwrite easier, which makes the borrowers process easier. There's a lot of things that go into that with that automation. You know, some people call AI that automation and workflow technology that helps. And I think that's where the big lift is because you know, you talked about margin compression earlier, that if you can have people in the company be able to do more, and I don't mean work harder, I mean do more. They're still working eight hours a day, but now they're doing more. They're probably getting more bonuses because they're doing more files. So it's a win for them. The customer's workflow is a lot easier, so it's easier for the customer. It's a better experience and the lo can close more loans. So I think that that's where the win comes in. Underwriting can do more capacity, et cetera, et cetera. So I think when you take a look at those factors, that's where the win with this comes in. But I do think there should be, you know, caution in the wind, if you may, about the, about the AI and how you're using it. You know, I think there's a couple of vendors, you know, that I've vetted here that we're like, man, we can record your phone conversations, we can use your voice and then we can use that voice to make another phone call to a borrower and you not even be there will make the pitch for you. I mean there's a lot of things that could go wrong with that. A lot. And more importantly, like if the customer has to be involved in that, I give you permission, space. And to this vendor's credit there was an opt in. But still I've seen some vendors where it's not an opt in and that's scary as I'll get out.
[00:42:25] Speaker A: Yeah. I, I'm heavily involved in this space and. Right. I think. And I'll explain. I, I think what you're doing is the recipe to win, but not the one way I think most people would, would envision it. And you do. There are going to be pieces that pop up out of nowhere. I heard yesterday that if you're using AI for Fanny and Freddy loans and so this is for anybody listening of always challenging why the mortgage industry is so behind. Well, there's a piece in there that says there's going to be whoever's in charge of it and I don't know exactly what that means at the lender is personally responsible like a personal guarantee on that.
[00:43:04] Speaker E: That.
[00:43:05] Speaker A: What is that? Like, that's, that's insane to me.
I mean great. It's, it's. But that is the most stunting. That's like taking a loan with a personal guarantee. Right. Another one I heard was just so you don't. I'll say a couple. So you don't have to actually comment back on these.
[00:43:23] Speaker B: Right.
[00:43:24] Speaker A: The other day they just announced that and by the way, I know many banks that are now doing the enterprise. Enterprise Claude. Right. Like that's a big thing. I think banks are actually starting to really embrace this which baffled me because of how much they don't want to.
They're so strict on technology. But I, I know about four or five I'm working with that are thinking of doing a enterprise quad with the idea that you put it locally and that loan officers put it out there on the on the you know, cloud version and and you control it all. But they just announced announced two days ago that Claude actually takes all the data from those locally installed for 30 days and it's like what the. What's that? I thought we just said.
[00:44:09] Speaker B: Correct.
[00:44:10] Speaker A: Our whole selling point is that we don't give that away. And then they're actually nerfing which is a word for they're actually rewriting your prompts without you knowing it to save money on the answers. If they don't think you're a big fan enough client by the way if you're not Oracle or something, you're not big enough. So though it's. It is the wild west and that's when that's so I, I think the reason you're going to win Quentin. And if they were sponsor I would say them but Matt and the group over there. Right.
I think the end game is AI agents talking to AI agents. So will you get that much noticeably faster that the consumer will notice? Maybe.
But if someday down the road a year, two years, who knows how fast it moves where each consumer has their own agent and you've now built Texana bank has is so much further along in that infrastructure that within three months that's where you can gain market share that I don't even think people could even wrap their heads around how much you guys would grow compared to others. So I. You are ahead. I think that's really where it'll be a learning experience to get to that point.
In the meantime, I still have this theory that double down on loan officer recruitment like you're doing double down on customer communication and experience because a lot of the AI that people are working on they're going to get ahead. But a year later I think a lot of people can count catch up 80% by just whatever the next vendor is or maybe a year and a half. You know like I use the all how much people use that underwriting vendor for three years and now they've switched over to the new one.
All that three years where they were winning. Like are they really winning anymore and and that was the focus not on the loan officer and the in the consumer. So the reason I love what you're doing is you're going top of funnel not sitting around in the underwriting world which it will lift all underwriters less touches. I totally get it.
Can you talk about how you're it's going to help you recruit more real estate agents because the learning curve will be less because they can.
[00:46:26] Speaker B: Yeah. I Mean, that's the whole point, right? If you can build out just like with the college students, so you take that same mentality when you bring them in, how did you, how did you speed up that learning curve? Well, you know, if you can put them into that system. And a lot of the confidence increases because the minute we pull credit on a borrower, it starts out underwriting and the minute the AUS is pulled, it starts underwriting. And we use the same underwriting system that Freddie Mac uses in post closing. You know, I want to be transparent with that. We're not using a brand that's a third party that you got to go out there and upload stuff into. Like we're, it's inside our system and it's the same one the government agency uses on the backside. And that's a huge, I think, confidence booster for us, but also for our consumers because, you know, we're taking the information going to Freddie and we're using the same thing that Freddie's using now. We think Fannie will adopt this rather soon as well.
So we're, we're not, we're not necessarily trying to go to these other ones like you were referring to there. Right. And so for us, that gives confidence for us, our consumers. But more importantly, with that training module, the minute credit's pulled, the minute AUS is ran, conditions are being put in there and those conditions are catching a lot of things that maybe a post closing condition would catch. They're catching a lot of things up front that are helping the underwriters as they go to underwrite and just providing confidence to that lo or that real estate agent, that Rimlow, or even that new college graduation.
[00:47:41] Speaker D: Wow.
[00:47:41] Speaker B: Like we've got this thing approved. And here's what I know, I need for a fact to get it clear close. So when that file goes to processing, instead of processing saying, hey, here's the items we need to get to underwriting, my processors are operating from a workflow of this file has already been underwritten. Here's what we need to go get a clear to close.
That's a big difference. And you know, if you can sync up with our verification services such as what you had as a sponsor for true work and you get an asset verification, you get an income verification that runs AUS with day one certainty. I mean, we literally at pre approval can kick out a pre approval with an appraisal and title. And if the appraisal is waived, then we're kicking out a pre approval with title. I mean, think about that. We're down to where pre approval comes out. You're getting an approval, not even approval. You are approved with title. We're waiting on title company. So imagine an environment where my REMLO is having in current environment open house sign in the yard. Now that sign reads open house and we're underwriting on site today for approval to buy this home.
That's a whole different level of buyer experience. When they walk in there.
[00:48:43] Speaker A: Does your REMLO is the real estate company Texana bank or is the real estate company they get to see working at the, at the place they're working?
[00:48:53] Speaker B: Yeah, great question. So they become a W2 employee as an originator just like any other originator for the company. That's, that's a, that's an originator. They are still a licensed primary job is licensed focused real estate agent for the organization they work for via Keller, Caldwell, you name it. Right, right. That is, that is who they are employed by as a 1099 employee. Over here they're a dual capacity employee and their second job would be dual capacity. Dual capacity origination.
So that's, that's how that would work. But the other benefit they get with us is they get an opportunity to 401k as a W employee. And that's something as real estate agents they don't have access to. And it's something that we provide for six months of being in the company, fulfilling the obligations inside the program. So there's a lot of other upside that we have out there. I mean I could go on for hours about this, but it's one of the reasons why, why I think so many people are rushing to our program. It's one of the reasons why we experienced 388 growth last year alone in this program.
It's one of the reasons why I think it'll be the leading program two years from now in our organization. And there's a lot of people that don't want to see it happen because change is not usually widely success. Excuse me.
Exciting for people. A lot of people don't like change. This is definitely challenging the norm. And it's not for everybody. That's the other thing I like to tell people when I'm talking in front of audiences. Like, dude, this is not for everyone because you're going to have the people that go cats are cats, dogs or dogs. I get it. No problem. It's not for you, you, but for the people that do understand that there is longevity in this program and that databases win. And if your database is under attack or your Database is not protected, then you may want to think about this program because as a real estate agent, you'll be licensed in all 50 states.
You don't have to go take 20 hours of education, then go down to your local office and take the test because of the exemption of the federal charter. So. But you do take the continue ed like all of us do at the bank. But your database now, when you have a customer that doesn't call you as a real estate agent about where to refinance and what to do and you send them to the right place, they're calling a loan officer somewhere who is going to take that person out of your database and they're going to put them in their database now and they're probably going to give them to a real estate agent they work with. That's something that you spend a lot of time and money but you're not protecting. We're going to offer you an opportunity to protect that now because we will give you the compliant appropriate information to send out your emails. More importantly, we'll take your database, we'll put it in our system and we'll help you mine those refinances before they become someone else.
And that's another added benefit real estate agents get to see when they become a RIMLO candidate over here at Tech center bank.
[00:51:10] Speaker A: All boats rise with the tide. And that's what you're doing.
Do you have a. Not to put you on the spot here, do you have a success story where an agent came over through word of mouth of another agent being very successful under this program?
[00:51:26] Speaker B: It's almost like you're dipping into my LinkedIn post for this week. Yeah, I've actually got an email as
[00:51:30] Speaker A: I was saying it. I was like, everybody's gonna think that was a rehearsed question, but know I'll
[00:51:35] Speaker B: even call her name out. Karen Adams here locally was on a transaction with another agent. She sends the email to the agent said, hey, wonderful job with transaction. You know, as you noticed, I was also the originator on this. You asked many times about it. I'd like to share some details of the program. And she's literally recruiting her in the email and spelling out what she did and how she got compensated and the items that she provided to where the other agent was like, why have I not heard of this? Why have I not thought of this? She made that, she made the introduction. So I mean it's, you know, it is. I've got a lot of success stories. That literally is one that just happened, happened this week.
And Karen's wonderful. She's awesome. One of our top rimloads. But I mean, the reality is. Yes, and there is an opportunity for them to get, you know, get people working on their team when they recruit them like that. So it makes sense. It's a win. Win.
[00:52:21] Speaker A: Yeah, That's a huge win.
And nowadays I say own your zip code because everything is scalable, but you can't scale until you have a process. And you can scale this program in a zip code. Right. And one of the best ways, I believe, to scale training wheels of scaling is a podcast, because you can get clips out of it, you can get interactions with guests out of it, you can get social proof. It doesn't need to be a referral partner. Anybody in the zip code can be a guest. I went and spoke at a lender on this, this topic. Just my experience, how to get started in podcasts. Happy to be here to help anybody for their sales rally and available for anybody that wants me to fly in and pump people up.
When I asked 75 loan officers, you know that first. So that's. You just said it. But 90. 90% of people don't make it to the fifth episode.
And then only 10% of those make it to the 21st, which would be 1%. So 1% of the world makes it to the 21st first.
Probably 0.001% of that in the mortgage industry, when you divide it out of the 75 loan officers in the room, not one was at the fifth episode. Zero.
[00:53:41] Speaker B: Believe that.
[00:53:41] Speaker A: I believe it. Zero. I know, but, like, I believe too. But I'm not. Like, I didn't believe. Zero. And so I was like, oh, maybe I do have a purpose here, and I hope I inspired it. And some of them went out and they asked like, they. They were inspired by what I said, that maybe they should get one. Because I talked about. You need. It should be about the guests. Because that mindset will actually make it about the guests that you want to be seen with. I guess not the best. Like an author. You can't go from zero episodes of getting an author on there. Right. But the cool story was they would come back and they'd be like, you know, I ran it by this real estate agent. They said I'd actually be good at podcasts. I was like, yeah, so now that you feel good, go, go do, do it.
I guess I try to articulate this. But what would, like, the. The confidence you now have in your 250th episode that you didn't have in the first five on what you were going to talk about, how long you were going to talk about it, whether people are going to actually listen. Can you inspire our audience to get on the.
The podcast train and maybe some. Some quick hits on ways to get there faster?
[00:54:50] Speaker B: Yeah, no, I'm laughing because my producer is sitting right across to me over here, and I noticed you've got yours online with us as well. And I think hats off to them, you know, without a. Without someone as a wingman helping you produce the show. And it doesn't. You know, you don't spend a fortune for this, but you need to have somebody. They also motivate you and keep you going, right? If you're your own producer, you got to edit your clips, you got to do your things. Like, that's a daunting task, right? And there's some services that allow you to do it. But, um, those individuals that do a really high level of that, they're. They're worth every penny. Um, so, you know, I'll first start. Hats off my producer, Charlie Walker. I think he's one of the best in the business. Um, but with that being said, my piece of advice is this, is that you don't. You don't have to. Not every. Not every episode has to be a home run. Like, you don't have to come in and go, man, I killed it. Or, man, that sucked, or, man, you know, I think just consistency is what matters, right? Get it out there. You're going to get better in time. You're going to have some episodes you think are a home run, and, like, no one's going to watch. Like, it makes me laugh because it's a lonely echo chamber, man, because you go out there and you. You drop something, you're like, man, this sounds great. Looks great. Everybody's going to listen, and you start looking for your views, you start looking for your episodes, and you're just like, you can get deflated by that. Just turn that nonsense off and just keep going, right? Because I will tell you, someone told me, after a year of podcasting, you'll have enough clips. You don't have to do another podcast for another year. Like, you could just keep going. And they are right.
And also, there's metrics that once you reach 100 episodes, you're listening, count. And that's what measures the rank of your podcast. It starts to really, really amplify and go through the roof. You know, we had a guest on, you know, when I first started podcast, we had a bunch of people do a Solids for us throughout the industry and just some well known people do some big things for us. And we were like man, everybody's going to watch this. And it was like no one.
[00:56:35] Speaker A: Right?
[00:56:35] Speaker B: Early on we re released that episode on the anniversary of when we did it and it went off the freaking charts like it was one of our best episodes and we did it a year earlier.
So you know, I'll say that don't get discouraged by the numbers and always be thinking about topics and just come in and talk. You know, ones by yourself are just as good as with a guest. You know, and just be passionate about what you're doing and you know, if you find make a way for it to be a lead generation tool, great. If not, then just make sure your message is, is valuable for your audience.
Yeah.
[00:57:08] Speaker A: And it doesn't need to be the, the longest. Right. I think consistency is more important. Ours is too long. But we have unbelievable people and I'm obsessed with hearing their stories.
But I would just say traditionally Speaking I think 25 minutes is probably a sweet spot.
[00:57:27] Speaker B: Sweet spot. 15, 25. Yep. Yeah, for us too.
[00:57:31] Speaker A: We've learned or this season we're focusing on the short clips because they do hit and bring them back to the the longer episode. But I think if you do vanity metrics you're going to discourage yourself. I think the power is in the impressions. Like the people that know know I interviewed you, Quinton. People come up and say they are what they, they say they saw it because they're being polite, but they're saying they are aware of it. And all those conversations that start because of that are value. Like anything could happen out of those conversations that wouldn't have happened if you don't keep doing it. So that's the message I, I say to loan officers is the, don't get stuck in the, the vanity metrics.
[00:58:12] Speaker B: You'll drive, you'll quit, you'll quit. And don't come in talking about mortgage products. Like don't come in doing that stuff. Bring something of value. You know, I, I remember I had an Ella that worked for me that did a podcast and it was called Burger Brats and Brews. And he would take a real estate agent and they would go to a local pub that did that. They would spotlight the pub that was there and they would work in a couple of stories. Right. But it would never be real estate, like hardcore mortgage driven. And you know, there's just dude, no one wants to, to hear that. Like nobody wants to hear that stuff at all.
[00:58:43] Speaker A: You had A great one the other day about the college trip that you took.
Your daughter's graduation.
[00:58:50] Speaker B: Yep.
[00:58:50] Speaker A: That people could. Would want to keep. They can picture themselves at their graduation, another graduation and they can drift off a 30, a 2:1 buy down. It's very hard to drift off to that.
[00:59:02] Speaker E: Right.
[00:59:03] Speaker B: You'll drift off. Just. You'll drift completely off. You'll turn the whole thing off. You know the other thing I'll say is this. If you're podcasting, just make sure your audio is good.
You know, if the audio sucks, metrics say after the first 30 seconds it's dropped. So just make sure you got some quality audio on there because that's more important than you know, than the content.
[00:59:22] Speaker E: Yep.
[00:59:22] Speaker A: And if you're doing video anch. My producer always reminds me the lighting is important as anything. So that's why you see my background the way it is is I'm trying to maximize front lighting and. And prepare your guests to not fail. So tell them about the optionality of a MI without intimidating them. Tell them audio is important. They can use one of the head the. The airpod type the physical ones. Tell them about lighting.
Tell them if you're not going to allow them to have a virtual background practice with them to get on streamyard. I think that that is the other thing that scares people away is loan officer finally gets that big real estate agent on there something goes wrong. It's the first time they encountered. That's why reaching out to a quinton myself to help just advice like it's okay things. Things mess up and I know it's the end of the world when it's your.
Your top agent and happen to be the one that didn't work. I you. I get the pressure. Like there are certain people in this industry when I have them as a guest. I've done it a hundred times and I'm just so worried their audio is not going to work or they're going to be firewalled. But it's so funny you say that
[01:00:36] Speaker B: every time we have Dan Habib on our show that we can't get the audio right to save our ass. It drives us nuts. But I can have anyone else on the show, it's good. It's not Dan, it's us. And I don't know why. It's always like 15 minutes before he gets on. He's like, well, I gotta go. I'm like, dad gum it. It always. But it happens, right? And now it's just a running joke when he comes on because he's like, oh, man, is audio gonna work? I'm like, like, probably not.
Probably not.
[01:00:56] Speaker C: Yeah.
[01:00:57] Speaker A: No, absolutely.
Before we end the show, you know, do want to give one final opportunity for you to.
For a loan officer out there that has never really heard of Texana bank and now goes on one of those data providers, about five of them looks you up and says, oh, geez, look how many loan officers are going over there. Look at the production. I didn't realize they were were that big.
Why should they come to Texana bank and be part of your team?
[01:01:28] Speaker B: Well, we're the quiet company right now. I've had a lot of recruiters tell me that. They're like, where'd you guys come from? Like, out of nowhere. And you guys get it right now. And so the buzzword in the recruiting word is transparency right now. Right. And I don't think some people even know what that means based on some of the items that I'm hearing when I talk to recruits out there. But a lot of people right now work in a retail model or IMB model where they don't control the pricing. They might have margins, but they don't control pric, the bigger controls at the corporate level, where the knob moves up or down depending on what they need for profitability. With us, we publish our margin. It's locked into your contract day one, and then what you put into that is additionally yours. But it never changes in our end. And I think that's transparency at the highest level. Also. Every decision we make, every tool we bring on, we are lowering the cost of everything we do so that we can put more back into our rates to give you a better opportunity to win at the street level. And that's transparency. And we show that, and we publish that every single day, every single meeting, every single team, every single time we're in around our our team members. And I think that that is the difference in transparency, is that we have nothing to hide there and that we want everyone to know every decision we do is for their best benefit at the Lo Remlo and branch manager level. And I think that that's the biggest difference. At Texana, we have all the products everyone else has. Heck, everybody shares the same one. But we have one unique program no one else has, and that's Remlo. We talked about that earlier. So if you want to come to a place that's going to provide additional opportunity for you, if you ever walked into a real estate office and the door's been shut, God, we got a preferred lender. Oh, we work with someone already. Remlow is your gateway. It's your key to the world. Because I have seen joint ventures be taken down through through Rimlo. I've seen MSAs be broken and just trashed due to Rimlo. And I've seen agents that said they would never ever do anything with a bank immediately come over to RIMLO because they had a bad experience. And now we just have endless opportunities that are addition to our pipeline that wasn't there before. So if that's something you're interested in, I'd love to hear from you. Check us out@remlo program.com if you're a real estate agent. If you're a loan officer list listening to this, check us
[email protected] there you heard it.
[01:03:27] Speaker A: If you're sick of the door being slammed in your face, Texana bank has the key to get through the door. And if you heard our episode today, a commitment from Quinton to Mortgage Innovation which will create more doors. So thank you for all the fans we have. Thank you for joining us on this journey into the heart of mortgage innovation. Every mortgage every has a story and we're here to help you write yours. If you enjoyed today's insights, please subscribe, Leave a comment, share it with your network and connect with us on social media.
Until next time, keep pushing the boundaries and uncovering the stories that drive our industry forward.
