Quote Originally Posted by Karen37a View Post
I am not going to debate this . Like I debated the regulations issues, certain a paper collapsing before they actually did.

I do have a computer science degree and fully understand ocr ...even quant strategies. ( computers dont have a chance against a trained sales force of brokers live, or underwrting)

in plain english......reading a pdf or application quickly is of no use to salespeople or Isos or closers, It doesnt help in anyway.nor computer generated algorithm approvals because there i s no way that it isnt going to be eventually manually approved....if you did there would be more defaults.

Gl with it.
Our industry is just like any other and this needs to be understood and the ignorance that is looked at in your point of view is only damaging to your business whether you like it or not.

The only difference are those industries have already taken out the human “sales” and replaced it with “brands” and a true online presence and the ability to compete AND aren’t afraid to compete even though many of them are brokers and work with the same direct “vendors”.

Take auto insurance with all of the online apps etc. and then your smaller brokers that also go to those larger direct ones, the smaller bad credit kinds- then you have your walk in local guys that shop your credit to hell. 10 years ago I was going to a local person and using anything I could to get a discount! Now, I go online- shop- chose- print my sh*t, put it in my car and I'm driving.

Yes, Brenda at auto insurance world is still in business with her "residual accounts" and special agreements with certain auto insurance companies for the people she services that work for certain corporations, hospitals... etc. Are you putting the puzzle pieces together here? It will be the same thing - with some major partnerships and drastic application and UW changes - this is the future.

Carl is right in many ways and we have had many (many) convos about every serious industry topic and there is not one aspect that he has/is not researching and at the end of the day it's about the consumer and their experience. BUT to turn it around- the Broker is the largest market that brings in many direct sales for the funders- so how is our experience then in turn our experience we provide to them? and after they are funder? and so on... and so on.

The biggest issue we have is our growth in both need, tech - but the limited amount of minds/hands in the right places.