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Tim, while folks are joining, we'll just do some small talk. We were just at the Western Secondary Conference in California. Any takeaways for folks that weren't able to make it?

Well, it was exciting. First off, the energy. I've always liked the Western Secondary. The location was amazing.

First off, incredible.

I think half the people were playing golf on Monday morning.

Yep.

But I saw a lot of business happen, Had a lot of good meetings. The energy was. Was all there. People are willing and dealing. There was new ideas, new optimism. It was a great conference. The topics were wide. Some people. A lot of it obviously is on the secondary side of the world, but lots of preparation for what's to come, I would say. It's a big theme.

Yeah, I learned a ton on the secondary side that I just haven't had a ton of exposure to acronyms, that kind of. That kind of thing. Everybody just. We're just giving it a minute or two more, actually probably 30 seconds more to let a couple people join. If you have come to see an incredible presentation of True Live and Be Smarty, you've come to the right place. So don't worry. We're not just talking about conferences and how they went. I was telling Tim in the last 10 seconds before we get started, I was telling Tim about the prices of California real estate and how I think my water, my beachfront house is pretty much gonna remain a dream for the. For the time being. It's about 8 million dollar homes. Taxes on that was like $300,000 and just a little too rich for my blood per year. All right, I think without further ado, we should kick this off. I think we've got a quorum, Tim. Everybody. We've come today to do a live demo of Truth's integration with B Smarties. B Smarty in B Smarties Point of sale for Bright POS for the vrvoie product. Right. That's verification of income and employment. Very. I'm very proud of both companies and their teams that have developed this. And so why don't we start off by just doing a little quick intro on the two panelists? Tim, I think a lot. I think most folks know your Be Smarty CEO and co founder. Why don't you just take a second and set the table and tell yourself. Tell a little bit about yourself and how you got to be in the role you're in right now.

Yeah, thanks, Richard. Well, first off, thanks for having us. The. Ever since we met about a year ago and the discussions and the working together and some of the Events that we've done prior has been amazing experience. The partnership is awesome, the teams are awesome. So appreciate everything you guys do for us. So Tim Nguyen, CEO and co founder of Be Smarty actually started the mortgage business right out of college. I dropped out my third year of college to get into the mortgage space and that's really all I know through that time frame I tried leaving mortgages three times to, you know, explore new industries and learn new things and the mortgage industry just took me right back. So as you know, you know, as I experienced that whenever we hire new employees at the company I always tell them like if you join, you may not leave mortgage. Just be aware of that. It is an industry that's given us so much but start off as an originator very early on, learn really quickly that you know, I could have smiled down. Just wasn't that outgoing type of personality, you know, I wasn't a sales minded person. I really fell in the back end where I fell into appraisal management, title settlement, escrow, eventually the technology behind it all as well.

Love it. Well, so look, I'm Richard Greaser, I run marketing here at Truth. Kind of a lot of the face of the company. You'll see me at conferences on webinars. I talk to a lot of our great partners like, like Be Smarty and I think without further ado I'll just give a quick overview of what, what Truth is in case you don't you, you don't know exactly what it is. It might be the first time you're hearing about it. Maybe something caught your interest. So True True specializes in verification of income and employment and assets and insurance for the mortgage industry. That's typically what gets most folks interested. Usually what first catches folks attention is the savings over the incumbent. So there's an incumbent in the industry. Most folks know who they are. We save about 80% over the incumbent in cost. So that's usually what gets people's attention primarily especially in this market. But the other benefits are just as great and those are more accurate data upfront in the origination process and that is crucial to reducing the days to close and any fraud or any errors that might come up in a file as loan progresses through the origination process. So without further ado we're going to show you. Tim's going to do a demo and show you our verification of income and employment product inside of B Smarties Bright pos. And you know we're integrated with Be Smarty because they're developing cutting edge point of sale right They've developed a cutting edge point of sale. They're amongst the best. And I just, you know, that's, that's why we're doing it. Lenders want us integrated with, with, so. So I would say this. If at any point during this webinar you're moved by what you're seeing, reach out to the team at Be Smarty, schedule a demo. They'll answer all your questions. They can give you a customized demo based on your business, and I encourage you to do that. Tim, why don't you take it away?

Awesome. I will. Let me go share my screen. Let me know if you can see that.

I can see it.

Perfect. Before we get started, I just want to kind of echo what Richard said here. While we met a year ago, this whole topic of more effective, efficient verification of income and employment has been in our mind since, I would say the beginning of 2022, you know, the tail end of that pandemic boom. We saw a lot of inquiries about how can I make income employment verification better, faster, easier, cheaper, you name it. And then the second half, 2022, as we started exploring that things really kind of, you know, the market fell apart. At the same time, True and others kind of rose to the occasion. And we ultimately really got a liking to True, the people, especially the product and the type of outcomes it delivers. So needless to say, it was a perfect match from the partnership and integration perspective. And what we're going to do today is we're going to step through a typical Be Smarty application process, which if you're a customer of ours or you're a prospect of ours, you know, it's what we do is we really aim to make it short with a less is best mentality. How do we get a consumer through the process? Easy as possible, at the highest conversion rate as possible. And the trick here for us is, is just simply, you know, again, less is best. And one of the ways we make less is best is by using automation with True, by cutting out the difficult, time consuming verification income employment process, not only the point of sale, but you'll also see as it moves downstream into your processing and underwriting closing functions. So with that said, what we're going to do today, I know, purchases, I'm going to do a purchase transaction. I realize refinances are really popping off right now, but purchases is the long game, in my opinion. They all both work the same.

Here we go.

Okay, so once the consumer signs up and they start the application process, I'm going to kind of Glaze over. It's not a be smart dumb, it's about True. But I'm going to glaze over some of these other stuff here. We're going to jump in and key in the purchase information. We'll do a single applicant scenario today to make it a straightforward no additional co mortgagers. Okay. And our personal information. And I'm going to use a Fannie Mae test case for today's demo. This is Alice, first timer to make sure we got the Social Security number right. And this is important because this information will be used to kind of, you know, validate the, the income employment information is coming accurately. Everything matches up. We'll do a first time purchase. So we'll say we're running and we'll do a TBD on the single family residence. Okay, so this is where we land on our True integration. There's a couple things I love about the true integration. First, it's going to be easy and fast. You're going to see that right now. And there's a lot of companies that you can import. Prior to having worked with True, we used a different company that everyone probably knows about and that's available. But the problem with that. Right. Is the coverage is going to be a lot more minimal with Tru. I'll let Richard talk to that. But the coverage of the participating employers is large. So the consumer just clicks import now and it'll load up. True Interface, you know, be smart. It's not a very big company but if you look at it, we're on the list. Right. You know, Truva has done a great job of just really gathering and making them a massive amount of employers out there to provide the maximum coverage to your borrowers every single day. In this case here, let's pretend I work at Meta. The consumer will key in their credentials here. Once they key in their credentials through their payroll system, you'll see how fast it is. So what just happened, right, is they reached out, they did their magic and they brought back a D1C approved income employment information, including pay stubs. Yep.

Do you mind if I say one thing at this point, please. So everybody you just saw, it takes the borrower a matter of seconds and that's what it should do. I had one of my best friends from childhood called me up and said, hey, I just got a loan with a lender and I'm pretty sure I used your product and it was very personal, personally fulfilling for what I'm doing right now. I said, well, you know the first thing I said, well, how was the experience. And he said, well, I don't know man. It just took a second and I was done. That's what's supposed to happen, right? And you just saw it live. That's really what, what how the experience is supposed to go for the borrower and should they forget their password, it is native within most of the scenarios that you can do it within the app. The forgot password, you know, workflow happens within the app. So that's really important to point out here too. Go ahead, continue.

And Richard, that's true of a multi factor authentication as well, I take it? Yep, perfect. So once we're done with this, I can add additional employers or we can just go ahead and move on to the next step in the BeastMarri process. I'm going to actually import in verification of assets just to really kind of show you how automation drives a better consumer experience, especially the ones provided by true. With employment difficult to get right and also other integrations and how that kind of all adds together to deliver a really amazing experience to your borrowers. So many of you have probably worked with VA for years. This is not going to be new to you. We're going to go on and continue on to the next step. Credits being automated in the background. We're automatic automating calculations. We're just going to go through this pretty quickly because this is where I want to spend just a minute here. This is the information that came from true. So not only do we get the pay stubs and we get the D1C report, which I'll show you a little bit later, we also get the breakdown of income and employment. So this is information that your borrowers don't have to key in anymore. They don't have to, you know, dig up the information. They can do it right then and there so long as they remember their username and password. If we also break it down according to the Fannie Mae seller guide, which means if there's bonuses and overtime and so forth, it'll break down according to those rules and all this 1003 data will go into the loan origination system verbatim so that you don't have to break it down. Of course, if there is an employer that's not covered or they forgot by the step of the process, they can add one or they could just move on and do that later if they wanted to and we'll talk about what that looks like. So these are the credit report, you know, automation trade lines that got imported in the bar is to verify it, skip gifts and grants. Notice how the declarations are pre populated with automation. Again, going with the less is best. Using, you know, best breed vendors like True out there to fill in those gaps and all add, you know, the pieces. As a, you know, I like to say, you know, this is where I think one plus one equals three and not necessarily two. Okay. So that is the application process on Be Smarty. So what I think, what I hope you saw was how using True eliminates a process that you have to perform that's tedious, time consuming, but also for your borrower as well. It's easy for them. They can do this as a pleasant experience. They can move on with their day and we add up the automation pieces in the right way, you're going to deliver a modern experience that consumers today are starting to demand increases every single day. And sure enough, in a decade when the, you know, Gen Z comes of age. Right. The demand is just going to be dominant.

Yeah. Yep.

So I'm going to leave us here on the dashboard of the consumer. What we're going to do now is I'm going to go up and pull up the loan officer experience to show you what that looks like here.

I and there's one thing I'll just throw out that I loved in your UI that I saw as you were going across the consumer. It really shows the consumer experience as a consumer. I don't know how everybody feels listening but I like to know where I am in the progress in the process and I love the progress bar at the top that lets you know as it just as the applicant going through where you are and the steps you need to to go through to complete. I actually read a, read a statistic. I don't have it on me right now. That was showing the, the greater likelihood of and it was a huge increase in cons in applicants closing loans and going through the approval process, completing their application if they had a task list that showed their progress. And Be Smarty is obviously using those best practices.

Thank you, Richard. So what I am now is I'm gonna wear my loan officer hat now and I'm on my pipeline in Be Smarty and I'm going to go pull this. This is the file that we just got started. Notice how I got pushed to the loan origination system encompass in this case the status from the loan origination system came back and what we're going to do is we're going to go first to the services tab and what you're going to see is the true integration network you're going to see this transaction get logged. It's all timestamped. The borrower it applies to, it could apply to multiple borrowers if you have multiple applicants and you could even, you can check here to view the report. Richard, let me zoom in. You want to talk about this report at all?

Yeah, I'll talk briefly about the report. I think, you know, you're getting everything that you need and actually more importantly, you're getting it in the format that you're used to getting in it. So this is in the same format and we purposely designed it in the same format so it matches what the incumbent produces typically and what folks are used to getting so that, that there's no confusion about what you're getting. You're getting with full reps and warrants. I feel like it's important for me to say that too, you know. So from the top you're going to get, you know, the identity information, right? You're going to get, as you go down, you're going to get your employment, you're going to get their employers, previous two years employers, if that's what you've got set up. You're going to get W2s pay stubs and you're gonna get very grant the granular data that you need and you can, you can customize exactly what data you want. So I think it's also important to highlight that you're doing the verification of income employment. Now a lot of lenders like to just do the verification of employment 10 days before close. They don't need to do the income piece again, they're doing the employment. And what's cool about true is we offer up to five free re verifications. That's why there's such incredible cost savings to the lender. Because when you do that re verification, if it's a single borrower, you know, it's significant. If it's a co borrower on top of it as well, it's even more significant. Right? Double the cost because you get charged verifications, we don't. And so when you're at, when you're doing that re verification, when, when the consumer has logged in initially during the application and put in their credentials, most of the time those credentials are persistent and it's just on the back end, you just press a button and it re verifies the, the employment or the income if that's what you need to do for that borrower. And it's different by, by payroll provider and where we are at that mercy. But the majority of time that's how it works out.

Yeah, this is great information. This is. Are we looking at the dose report here, Richard?

The D1C rapport? Let's see. D1C comes as a field. Typically. It's a field that comes. It's just usually one field that comes for. For find it right now, it's a report id, I believe.

But maybe you can share with the audience your D1C approval. I think you guys were first, right?

That's correct. Yeah. We got Freddie towards the end of last year, I believe, in December. And we got Fannie several months ago, like in May. So, you know, those are. Fannie and Freddie have been great partners in that process. And you know, we've. We've worked with lenders to really streamline that. That process. Oh, Fannie and Freddie ID pulls into the back end in the Los Angeles.

Cool. Another thing here worth mentioning is as a loan officer. Right. Again, I got my loan officer hat on. I can also initiate a re verification. I can choose employment. I can choose income and employment or just employment in the last pay style. Is there anything you want to add here? Feel free, Richard, but I just want to show everyone how you can do, you know, take action on this after the loan. Right. It's a process before the loan closes.

Yeah. What I would say is with true, you can really customize, you know, what you're trying to. You're seeing it right now. It's simple, right? Employment, income and employment. Employment and last pay stub. And that's really important, I think, for processors and underwriters, loan officers, to make sure they're getting just the information that they need.

Cool. So the next thing I want to show you on this side of the world is so often, you know, what can happen is. Oh, you know, actually I'll show you one more thing here. So when you go to the documents, I want to show the pay stops. So these are examples of the pay stops for the period of time that it's configured for. What you'll see is you have pay stops that a consumer did not have to find, download, upload. It just gets imported in through the true partnership. I think that's a big time saver. We're starting to measure that. But I'm sure everyone's got a great idea of, you know, can imagine how much time it's going to save you in your process. I want to definitely showcase that. Another thing that often that's common that could happen is the consumer may skip, but after they submit the loan application, they might say, you know, what I'm actually really interested in doing something now. Right. So as a, as a loan officer for whatever reason, today we'll issue a prior to docs condition for income. But all you have to do is just choose this voie verification additional option. You know, provide your income and employment information. Right. And what will happen is when I add this, I'm going to move this window. We're going to go back to the consumer side and what you're going to see on the consumer side is they now have a new loan condition, the one that we keyed in verify your income and employment. And they click on verify income. I think this is super cool. Now they could do it again. They didn't do it before. Now they have more trust in you as a lender. They're willing to do that now. Well, they have that opportunity. So you have a secondary option to get additional adoption from your, from your borrowers and it works very much the same. If I click import now, I can import. You know, maybe I got a second job at Be Smarty. I could or actually feels like two jobs at B Smart, but I could go import that in.

Yeah, you're the CEO, man. I think you got many hats. Let's put it, let's be honest. You got all the jobs at Be Smart.

Or if I cancel. Right. So I want to also showcase this as well with true. You have different employers. Right. You have payroll, you can, if you just know your payroll system, you got gig economy options as well. I think this is super unique and cool.

Yep.

You got, you know, Uber drivers and door dash drivers and you have benefit income as well that you can also import in also. Now if ultimately the consumer cancels, check this out. Oops. Let me go ahead. If they ultimately cancel, you can also connect the financial institution.

Okay.

Or you could do. Let me go ahead and get out of here. You can upload documents if that's what you want to do instead. So there's always an opportunity to service the tech savvy, the non tech savvy people and everybody in between.

Yeah. That's our own internal kind of waterfall if you think about it. Right. Being able to go from the voie and if that doesn't happen to the DOC document upload. And to be transparent, we are Fannie and Freddie approved for the voie and for the, you know, connected through the payroll provider. And we are almost, we're getting there with the DOC upload, very close to getting there. But I can't give a date just yet. But the functionality is live.

So there's one last part of the demonstration I want to talk about. Unfortunately, I won't be able to show it because it requires logging to the ls, which is, you know, what happens after this data has been collected and we run all this stuff? Well, what happens is the reference number, right will go into the loan origination system, which means you have credit for it in your ls, which means when you rerun aus, it's going to bind to the loan record. You're going to get credit for that when you go sell the loan. Obviously wouldn't be any benefit if you can't bind it to the loan. Number two is those documents that we saw from the D1C report to the pay stubs. All that information, those documents, those PDFs will get imported into your loan origination system regardless of, you know, which one it is so long as Be Smarty supports it. And then of course the 1003 data. Remember how we looked at the 1003 data? The breakdown of the income and employment, all that verbatim goes into the loan origination system. So your expectation as a lender, processor, loan officer, underwriter is we open up that loan record for the very first time. You have income in that application, you have a D1C report and you have support and documentation in the form of pay stubs and so forth that's provided by the integration. Pretty much everything you need to underwrite that loan and move that thing forward.

I love it.

So that is the, that's all I wanted to share today. And Richard, did you want to add anything before we move on to any questions?

No, I think that was fantastic. I think the only, maybe the only thing I didn't touch on is the reduction of fraud and the reduction of errors in the file file, which is a big deal. And the what it does for your company when you are getting that accurate data up front. You know that borrower is actually approved and can afford the home that they're trying to buy. You verified that income. It just increases the, it reduces the days to, to close it speeds up the origination process. And we're seeing that consistently across our clients. I mean, we're getting it. The data is direct. This is direct to source data. I think it'd be good right now if we transition to some Q and A. I've got a couple questions. Are you okay with that, Tim?

Yes, let's do it.

First question I've got is what big challenges do you think lenders are facing with boe. Right. Boie right now and how do you guys help with that? And I think this is coming from someone who's using a POIE solution, like truth. Whether it's true or some. Or, or something else, I can definitely speak to this. Would you like. But I'll let you start if you like, whatever you.

Yeah, I mean, I could give you what we're seeing, but I think you're definitely the, the expert here, so I'll hand it over to you for the correct answer. But at least from our client base and our prospects, it is starting to come up again. If you remember, earlier I talked about how this became a big topic in early 2022. People were like, you know, kind of knee deep, but not too knee deep. Right. On the pandemic, boom, it started declining a little bit. People were freed up for questions and started thinking about efficiencies. But it's starting to happen again with voie. And I think a couple of the biggest driving points we're hearing is cost. Some of the legacy solutions out there are just really expensive adoption. Right. If I spend this time, am I going to get the benefit I actually had? One client said they've been paying for VOA for years. One had a client, was a prospect, they switched over a platform. Now they're, they're a client, but they're paying V for years. And they never got credit for VOA because the POS improperly moved that data to the ls. Right. So something even as simple as just making sure they got what they paid for. Right. It's great to get the efficiency and accurate data, but you want, do you want to see, you know, you know, rapid warranty relief? That's kind of what we're hearing. Ultimately, our client base, they really look to be smart because we're looking to automate, looking to provide a better experience that's easy, that's powerful, and is just out of the box. Don't want to think about it. Give me the best practice. So I sent over to Richard for what you're seeing on the, on your end.

I mean, I think you really nailed it on the cost. You know, I think all the lenders are facing serious cost pressure based for verification specifically, you know, they're, they're facing cost pressure for credit and, and just, you know, if you look at the average cost to originate a loan, it's just been going up, you know, year over year. Unfortunately, a lot of that is because of requirements that lenders need to make, need to meet. Right. But for verification specifically, those costs have gone up by hundreds of A percent over the last few years. And so what used to be $20 to do a verification is now closer to like $70. Right. With, you know, incumbent providers. And so that's $70 when you do the verification. And then when you do the re verification, it's another $70. That's 140 for single borrower. Add in a co borrower, you're looking at like $280. What if there's a mistake? Right. Processor or an underwriter and lo makes a mistake and, and then it could be even higher. We've seen lenders, we've talked to show us that some files have had like 500 in verification costs. That's a lot of money. Right?

Wow.

And so, you know, that's the primary savings, right? I mean, the primary benefit I would say right now is cost. But, but on top of that, I think the challenge, the question was the challenges that a lot of lenders are facing. And I think that when we were first talking to lenders about, you know, earlier on, when we would talk to a lender about consumer permission platform like Truth, you know, and there's a few out there we would like. I was at a conference at TMC and I asked the room, there were about 30 lenders in the room. And I just took a quick poll and I said, how many of you are using a consumer permission provider like truth? And about 50% of the room raised their hand. And that was in March. And I asked, I asked them of, you know, of the, of everybody, you know, how many of you are going to be using one by the end of the year? And I'm not kidding, 100% of the 30 raised their hands. So it's in terms of like the challenges that lenders are facing with VO voie, I would say that everybody's facing those costs and it's forcing lenders to adopt a new, new type of technology like this. This is a pivotal moment in the lender's tech stack, I believe. And it's happening organically as a result of just cost pressures. It has to be done. They have to find a solution. And I think.

Go ahead, go ahead. Sorry.

No, no, no, that's good.

Just want to piggyback on that too, because I, I think you're right. I mean, we're talking about this in terms of one cost, but production and clock cost overall is just too high. Right. So really this, these parts add up to a really big, you know, piece of the pie. It's the, you know, the, the operational efficiency. I just can't say enough or to be. We can't go back to mistakes of the last year. Right. And mortgage companies and hate to say be the one to say this out loud but you know, we're bad at learning from our past mistakes. Right. Because when things get well and busy and opportunity to capture the markets there, it's too busy to implement when things are low, too expensive to implement. So. So when, if not now, then when? Right? And I think now is a perfect time to bring that cost down. Just makes a lot of sense, let alone the efficiencies, the integrity, the standardization. I would say all those challenges added to one thing. Right. Being effective in this marketplace and building a model that's, that can scale, you know, tremendously.

Absolutely right. And I think the, the last thing I'll say is there's some things that are just going in our, in our, in our favor. Right. Some tailwinds that are really happening in the favor for consumer permission platforms. One is that I think a lot of the payroll providers out there are. But what used to happen is like a payroll provider would get, would turn off access for the re verification. They would turn off access after say, you know, 15, 30 days after an employer, an employee stopped working at the, at the company. And I think the majority of the payroll providers out there have learned at this point they're sick of getting people calling them all the time and trying to verify a borrower. And so what they've done is give access to much longer term access to previous employees. And that has given us huge tailwind. And it's just something that we've gotten better at and learned organically from working with our lender partners to increase the conversion. So I think it's important that everybody understands at true we have one metric that we care about. It's conversion. Conversion is our North Star. I'll define it. You send out a verification of income and employment and it comes back successfully with the documents you need with GC approvals and that and that is our North Star. So we talk all, we obsess over it, we talk to all of our customers about it. And you're not going to get that from a lot of other, I would say know all of our peer kind of peer competitors and stuff like that. That is all we talk about and that is really the metric you should care about. I think if you are, if you're a lender who's thinking about adopting a consumer permission VOA platform. We got a question here, Tim, I'm going to ask. It's if the borrower has assets in multiple banks, does the system handle multiple bank bank statements? And the answer is yes. And this is the same as income and employment. If you have with the payroll provider, if you have you can the borrow log into multiple previous employers? Tim, do you have anything that you want to add to that?

No, no, I think it's spot on. I'm not sure this is asking the capacity voie or voa, but it's the same answer for both. Yes.

Yep, it's the same answer for both. Another question we've got is what percentage of your borrowers on your platform utilize verification of income and verification of employment? I think. Do you interpret it the same way I do that? That's what's the conversion? Basically, yeah.

So on the pos, it's too early to tell to be very honest. The partnership is new, is rolling out to early customers. We'll come back in, you know, maybe a quarter or so, we'll have some data. But I can contrast it to what we see on the VOA side and the VOA side. The framework that we built that on and delivery of the experience engagement is the same. We see about 30% VOA engagement because we design the same workflow, same methodology. We're expectancy about the same.

Yeah, yeah. I would say here's my experience based on all of our customers and we have a significant amount of customers at this point. If, you know, if you're looking for good ROI, you're getting good ROI at 30 to 35% because the cost is so high for the incumbent, like 30 to 35%, you're getting good ROI. If you think about our best customers can be are getting upwards of like 60%. And there's ways that you can do that to get with working with us to get your conversion that high. But I would be very happy as a lender with 45 to 50%. I mean, you're going to hear numbers thrown out there by a lot of different vendors in the space. And it's really important that you really drill into the definition of conversion because some will just say that it's connecting to when the borrower connects to the payroll provider. Right. But you want to see the race finish. Right. You want the documents back. So like, you just have to make sure it's apples to apples on the conversion. And I've talked to enough. I basically know all the competitors in the space. We're best in class and when it comes to conversion and it's because we obsess about it. We got Another one question in here and it's is Be Smarty and true a combination offered to brokers? I. I'll just say from the true perspective we offer a single seat license if you want to use the True through our dashboard. That. But that's, that's not going to be like part of what we're showing right now. This is more of an enterprise demonstration. You want to add anything there, Tim?

Yeah, I mean from a product perspective there's no limitations.

Yeah.

Any Be smart customer. It doesn't matter if you're a banker, broker or anything between you can turn true on. So there's no limitations from a product perspective.

Yeah. And what like. So the other question I've got is what are some of the loses that you integrate with? If you're talking about. Oh yeah, I don't know.

We are integrated with Encompass obviously Lennon, qb, Byte, Constellation Mortgage Services, Empower, AKA you know, DMT. Nowadays there's also Mortgage director from fiserv. Some a few of the big ones and we are working on integration with Vesta and there's a new LS going out in the marketplace, I can't mention the name yet that's doing pretty exciting stuff in the LS side that we're integrating with. The ones we're not integrated with might be the easier way to answer this is we're not integrated with Central Mortgage Cadence. That's one of the big ones out there today.

Well, one person asked specifically Lending Pad so it sounds like that's what they're interested in.

So not at the moment. However, that could change very rapidly. We know the team over there pretty well. We're in discussions to make it available to the Lennon Pad user base. Not just the POS and integrations such as tru, but also our native mobile app. We're hoping that this could be made available to all Learning Pad customers.

Yeah, well for, for true we're integrated with the majority of The LOS and POS's out there, the major ones. And you know our, you know our, our Lending Pad integrations on the roadmap. I don't know exactly when that is going to be done, but you should reach out and talk to one of us. You can just go to the website, schedule a call and they'll tell you more about timeline on the Lending Pad integration. It's not too long. I think it would be important to kind of understand your business and how we would, how we would fit into your waterfall if you have one long before that integration HAP is goes live so that you're off to the races as soon as possible. I have a couple other questions that I wanted to just quickly address. One of them was like, how does the True integration affect costs for lenders using Bright? Pos so cost savings or improvements? That question sounds like it's. I'm not. You could interpret that multiple ways. It could be cost for True, it could be cost for brightness. POS it could be like a combo deal. I, I actually. What do you think? What do you think, Tim?

Yeah, sounds like one of our current. I know we have a large amount of our current customers on here, so your contract would be Smarty for Bright pos. It is. What it is not going to change. If you want to add this module on, you'll get an agree, sign an agreement with Truth, we will turn that on. And the transactions and money's old would be straight to True.

Yeah. Yeah, I would say that. The way I would answer that question is talk to True if you're interested in learning about cost with True and we'll give you the best price we can. Usually we have our standard price and then based on volume, we have breaks based on, like the volume you're going to commit to. But I, but I, I think the most important thing to know is that you're paying for Be Smarty. If you were paying for True, putting the two together gives you better ROI on both, right? You're getting both. It's like it's LEGO tech. I'm sure you've heard of this before, or if this is your first time. A lot of vendors talk about this in the industry, right? Get more out of your tech by utilizing their great integrations. And I think Truv and Be Smarty are definitely one of those. I got another one. Which LOS do you think works best with your technology?

Well, that's a, that's a. I, I can tell you what the LS we support the most is we do support Encompass.

You went, you went quiet, Tim, we can't hear you. That was a good timing to go quiet too, right?

It's a sticky question for us because we partner with so many hours.

You're still quiet. I don't know what happened. We lost your audio. Oh, you're back now. You're back suddenly.

We're good now. Can you hear me?

Yeah. Yeah, I can hear you.

It's a difficult question for me because LS every LS is so different. We've partnered with so many. I will say this is in terms of sheer number of LS customers we support Encompass the Most we do Constellation Mortgage Services and we do Byte and Lending qb. You know, when you look at the sheer number of, number of lenders supported.

On those LS's a lot of LOS questions, man. I, I would say this on the true. This is how I would answer that. We're Geneva, Switzerland. I think there's cost benefits for a lot of different LOS in the market. And really I don't, I don't think there's a one size fits all answer. I think you should choose the one that best fits your business. And if you need help with that, I know plenty of good consultants you can reach out to me that are happy to work with you and trying to right size on LOS for your business because that's, that that is a very hard piece of technology to, to decide on. Got one more question here and it's about what about consumers who use sso? You know, do they, you know, know their payroll systems credentials? And the answer is yes for true. TRUE is able to support sso. That was pretty simple. Yeah. Tim, do you have anything else that you want to add? Just that you think that we may have uncovered or anything like that?

Let me just look at my notes. But no, I think we got it covered. Just peruse something real fast here. Get this window out of the way.

From my perspective, I think the one thing I would say to everybody is one, if you're using TRU and you're in the market for a positive, or even if you're not and you're in the market for a pos, learn about be smarty. Reach out. Tim himself will, you know these people he wants to help. So even if you're, you know, you're just trying to learn, like go learn. It's always good to go learn, reach out and you can.

Oh, oh, sorry, my bad, my bad. Excited and.

Well, the, the, the last thing I would say is the, this integration is, is live. And what do you think, how long do you think it would take for someone once they sign up with True to be able to get this going?

I mean, I mean they're already an existing beast customer. Less than a week.

There we go.

Yeah. I mean it's all configuration driven. As long as they have accounts of credentials, we'll get that spun up on a staging environment. Looks good. We'll get it promoted to a production environment. Richard. I didn't want to jump into something because, you know, the wholesale channel is a growing one.

Yeah.

Something that, you know, we support like United Wholesale Mortgage as an example. Right. As you know, It's a space we, we love to continue supporting. Can wholesale lenders and their brokers take advantage of truth and that comes with it?

Yeah. Can you, can you give me a little bit more background about where that question is coming from? The answer is yes for sure. Yeah.

So, so Be Smart has a TPO portal as one of our products. Sure. Could we put the tp, the True product, into the TPO portal so that when a broker submits a loan to XYZ Wholesale Lender as part of that process, our portal will reach out to the borrower and say, hey, let's get your income employment information. Or you could, you know, upload it, you know, manually.

That answer is 100% yes. But it depends on the lender's process, really. I mean, some lenders require the brokers to have handled the verification of income and employment or assets. They make the broker handle all of that and they want that done. And then other lenders work with us directly from their TPO channels and it's off to the races. It's great. We even have non QM lenders who utilize our products also that are, you know, using brokers as well. So yeah, the answer is yes, but it depends on the lender's business.

And I got one personal question as well that kind of got my juices going here.

Yeah.

Is one thing I love about what True does through the Be Smarting experience in particular is, you know, we've all seen these. Let me just log out here. Yeah, we've seen all these experiences before. Right.

Where you can, you can stop. Oh, just leave it up. Good.

Yeah, we've seen these experiences before with home equity.

Yeah.

Or even automobile loans where income, employment, assets, whatever is super streamlined. Right. That's what we're getting to the first lien mortgages here. So can we use this with home equity and is there a different product at a different price point to cater to, you know, lower margin home equity product?

Well, yeah, absolutely. We have lenders that use our product exclusively as a pilot, usually on a couple of them that are using it right now on HELOCS. And we have many. Yeah, the answer is yes, 100. We have great clients that actually only use us for equity and some who use us for both.

Well, that's all I got.

Yeah, no, I love that question too. It's really hot in the market right now for a lot of lenders. There's lenders that are even utilizing third parties to offer those type of loans Right. To consumers and they're doing it very successfully. I met with a several at at when we were just together at Western Secondary who were talking about they were huge revenue drivers for their business right now. Which is great to hear because, you know, usually I just don't hear that a lot very often from a lender. And that's just. It's great. Yeah, I think it's the market right now. Tim, thank you so much for. For joining me today. I hope everybody got a lot out of it. I encourage everybody to reach out to go to be smarty. Reach out to the team. Tell them you want to check out bright pos. Tell them you want to see True live in and customize based on their business. We're happy to hop on a joint demo together if that's. If that's of interest too. So, you know, schedule a call, learn more and, you know, always be intellectually curious. Right.

Yeah, I'll say the same too to. Especially to the, you know, current or perspective even be smarty customers. Reach out to your ae. Reach out to your client success manager if you want to, you know, take a deep dive. We'll help coordinate and get the truth team if there's questions we can't answer, you know, or we could just make the connections back to Richard and his team. Happy to do so and extend the same to your client base as well. Richard, that are. That are on today. We're looking for new pos. We're looking. They like the way True's implemented here and they want to deliver that to. To borrowers. We'll. We'll figure it out. We'll make it painful, painless for them.

Love it. Love it. Frictionless. Everybody, thank you so much for joining. This is Richard and Tim signing out.

Thank you, sir.

Hi, everybody.