CONNECT by California MBA

Hosted by The California MBA

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255

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Jun 2026

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About the show

Welcome to California MBA's podcast, Connect, our all-new podcast featuring one-on-one interviews with some of the top movers-and-shakers in the mortgage industry. California MBA serves to represent the residential and commercial real estate finance industry before all governing bodies. The California MBA encourages and promotes sound business practices and honesty in marketing, origination, lending and servicing of mortgage loans through our educational and networking opportunities.

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60 recent

June 15, 202624 min

Notice of Default, Junior Liens & the California Usury Trap | Steven Ernest, Forta Law | Connect

Nobody originates a loan hoping it becomes a legal strategy session — but in the real world, defaults happen, projects stall, and lenders need a plan. In this episode of Connect, California MBA CEO Paul Gigliotti sits down with Steven Ernest of Forta Law for a practical, no-nonsense conversation on managing defaults, protecting collateral, and maximizing recovery as a private lender in California. Steven brings deep experience in litigation, enforcement, and creditor rights — and breaks down exactly what lenders should be watching for, documenting, and doing the moment a loan starts to go wrong. In this episode: - The two early warning signs every lender should watch: missed insurance and unpaid property taxes - What a Notice of Default really means for junior lienholders — and why "hope is not a strategy" - The three documents every file needs before a loan goes to collections: the note, the deed of trust, and a locked-in payoff balance - The two most common lawsuits lenders face: elder abuse and "I didn't understand what I signed" — and how to protect against both California licensing and usury rules: why a 12% loan can become a 0% loan overnight without the right license - Why California has more usury exceptions than most states — and why that actually favors lenders - The insurance risk every California lender should be thinking about over the next 12-24 months — wildfires, earthquakes, and whether the industry can absorb a major loss event Connect is the California MBA's podcast where strategy, innovation, and leadership come together to shape the future of mortgage finance. Subscribe for new episodes featuring the voices driving the industry forward.

June 8, 202627 min

The Fight for the Consumer: Real Estate Consolidation, AI & Future of the LO Relationship | Ep.265

Mortgage lenders track rates, volume, and affordability. But are they paying close enough attention to what's happening in real estate — and how it directly affects their business? In this episode of Connect, California MBA CEO Paul Gigliotti sits down with Coby Hakalir, SVP/Managing Director of Mortgage & Core Services at T3 Sixty, a firm helping real estate leaders think through strategy, brokerage performance, technology, and the future of how real estate companies operate. The conversation covers consolidation, the fight for the consumer, the evolving LO-agent relationship, and what AI is starting to do to the home search experience. This is the intersection of mortgage and real estate — and it's a conversation the industry needs to have. In this episode: • Why real estate brokerage EBITDA is hovering near zero — and the parallels to mortgage • The consolidation wave: Compass at 30% market share, Rocket-Redfin, and what it means for JV partnerships • Why 80% of borrowers and real estate clients never come back — and the stat behind it (88% don't even remember their loan officer's name 12 months after the transaction) • What agents actually want from lender partners right now — and why coffee and open houses aren't enough anymore • The dual technological journey borrowers go through — and why it's creating transaction trauma • How propensity data and AI-powered home search are reshaping the consumer experience in real estate • Answer engine optimization vs. search engine optimization — and why it matters for mortgage next • Why shifts in the market always create opportunity — and how to approach change with eyes wide open Connect is the California MBA's podcast where strategy, innovation, and leadership come together to shape the future of mortgage finance. Subscribe for new episodes featuring the voices driving the mortgage industry forward.

June 1, 202629 min

The Borrower Has Changed. Has Your Product Suite? | Tom Davis, Deephaven Mortgage | Connect Podcast

One out of every four loans in 2026 will be non-agency. Are you positioned to compete for all of them — or just three out of four? In this episode of Connect, California MBA CEO Paul Gigliotti sits down with Tom Davis, Chief Sales Officer at Deephaven Mortgage, for a data-heavy, no-fluff conversation on where the non-QM and non-agency markets are headed, why the equity opportunity is generational, and what loan officers need to do right now to stay relevant. Tom brings a front-row view of what's actually happening across borrower demand, product innovation, and liquidity — and he doesn't sugarcoat what originators are leaving on the table by not having a full suite of non-agency products. In this episode: • Why non-QM is on pace to hit $150–180B in 2026 — an all-time record The $400–500B total non-agency market and why missing it means only accessing 75% of your opportunity • Who the non-QM borrower really is: self-employed, investor, credit event, foreign national — and why they're actually lower risk than you think • Why 30% of all 2025 transactions were investor deals — and what a full investor product suite looks like • The home equity opportunity: $35 trillion in equity, 80% of homeowners locked into sub-5% rates, and $600B in renovation originations projected for 2026 • HELOCs, closed-end seconds, and how Deephaven built a Jumbo HELOC up to $1M with alt-doc features • Why waiting for rates to drop is a losing strategy — and what LOs should be doing instead • How servicers are stealing your past clients at a 90% retention rate — and how equity products stop the bleed Connect is the California MBA's podcast where strategy, innovation, and leadership come together to shape the future of mortgage finance. Subscribe for new episodes featuring the voices driving the industry forward.

June 1, 202626 min

Shift Left or Get Left Behind: Steve Kolker on AI, Production, and the Future of Mortgage

The mortgage production environment is as competitive as ever — tight margins, volume pressure, and a flood of technology promises. So what actually separates the lenders managing through it well from those that are struggling? In this episode of Connect, California MBA CEO Paul Gigliotti sits down with Steve Kolker, Managing Director and Chief Production Officer at AmeriHome Mortgage, a Western Alliance Bank company. Steve brings 40 years of industry experience and a front-row seat to what's working across AmeriHome's 800+ correspondent lending clients — and he doesn't hold back. Fresh off moderating a panel at the 2026 Mortgage Innovators Conference, Steve shares his two biggest aha moments from MIC and breaks down exactly how production teams should be thinking about AI, workflow redesign, and the advocacy issues that are quietly shaping the industry's future. In this episode: • Why builder and realtor relationships are outperforming in today's market — and what refi shops are doing right • The "shift left" strategy: why moving decisions earlier in the process is the highest-leverage tool for reducing cost • Why plugging new technology into an old linear workflow is a guaranteed failure • AI's biggest opportunity in production: fraud detection, call center coaching, income calculation, and real-time underwriting decisioning • How an AI listening tool could give a loan officer an near-underwriting decision before the first call ends • The coming California legislation on automated underwriting — and why being at the table matters • Why advocacy isn't separate from production — it IS production Connect is the California MBA's podcast where strategy, innovation, and leadership come together to shape the future of mortgage finance. To learn more about AmeriHome, visit www.correspondent.amerihome.com Subscribe for new episodes featuring the voices driving the industry forward.

May 18, 202628 min

People First, Technology Behind the Scenes | Neil Armstrong, CRO of Indecomm | Connect Podcast

The mortgage industry has been talking about AI and automation for years — but where is it actually delivering results today? In this episode of Connect, California MBA CEO Paul Gigliotti sits down with Neil Armstrong, newly appointed Chief Revenue Officer of Indecomm, to dig into the real-world mechanics of operational automation in mortgage lending. Neil brings a rare perspective — 20+ years in the industry, including time on the lender side at PHH and Citi Mortgage — and he's not here to sell buzzwords. He's here to talk process, ROI, and what it actually takes to build a scalable lending operation. From machine learning-based document classification to automated underwriting, from breaking down operational silos to the critical role of change management, Neil lays out exactly what's working, where lenders get stuck, and what the next wave of agentic AI looks like inside the mortgage lifecycle. In this episode: • Why cost-per-function analysis is replacing headcount as the efficiency benchmark • How Indecomm's IDX system is cutting title review from 38 minutes to 3 and appraisal review from 40 minutes to 6 • The 60% lift in underwriter productivity — and how automated underwriting is getting there • Why you can't automate a bad process (and what to fix first) • Change management as the #1 deployment killer — and how to get buy-in from the top down • The difference between deterministic rules, machine learning, and true generative AI (and why it matters) • What's coming next: agentic AI as a digital assistant for auditors and underwriters • The human-technology balance — why borrower-facing automation isn't the goal Connect is the California MBA's podcast where strategy, innovation, and leadership come together to shape the future of mortgage finance. Subscribe for new episodes featuring the voices driving the industry forward.

April 20, 202626 min

Why AI Won't Replace Your Loan Officer — And What Will | Bob Jennings, CEO of TrustEngine

The mortgage borrower has changed — but most lenders' engagement strategies haven't. In this episode of Connect, Paul Gigliotti, CEO of the California MBA, sits down with Bob Jennings, CEO of TrustEngine, to unpack what it really takes to win and retain borrowers in today's volatile, hyper-competitive lending landscape. From the dangers of AI-dependent borrowers walking in misinformed, to the untapped power of the full loan lifecycle — this is a conversation every LO and lender needs to hear. Bob shares why the human-in-the-loop is non-negotiable in mortgage, how TrustEngine and Mortgage Coach are helping loan officers move borrowers off the sidelines, and why making hard conversations easier is the true ROI of technology done right. Key Topics Discussed: AI & The Borrower Experience: Why LLM-reliant borrowers are arriving misinformed — and what lenders can do about it. Human + Tech: The "pilot in the seat" analogy that perfectly captures why automation can't replace the loan officer. Beyond Lead Gen: How TrustEngine manages the full borrower lifecycle — not just the top of funnel. The Lifetime Client Strategy: Why borrowers do ~7 mortgage transactions and rarely with the same LO — and how to fix that. Proving ROI: How Mortgage Coach drives 30% higher pull-through rates for the LOs who use it. Making Hard Conversations Easier: How technology helps LOs move rate-obsessed borrowers toward smarter financial decisions. About the California MBA: The California MBA is the leading advocate for the mortgage industry in California, dedicated to promoting fair and ethical lending practices through advocacy, education, and innovation. Connect with us: Website: https://www.cmba.com

April 13, 202626 min

How Digital Collateral is Transforming Capital Markets | Michael Sachdev, CEO of Snapdocs

Closing isn't just a moment at the end of a loan—it’s the highest leverage integration point in the entire mortgage lifecycle. In this episode of Connect, Paul Gigliotti, CEO of the California MBA, sits down with Michael Sachdev, CEO of Snapdocs, to discuss why the industry must stop treating closing like a simple "feature" and start seeing it as a critical end-to-end value chain. Michael shares how Snapdocs is helping lenders bridge the "capability gap" by automating tedious back-office tasks, reducing errors, and shortening cycle times from an industry average of 70 days down to just 52 days. From AI-driven CD balancing to the convergence of closing and capital markets, learn how digital collateral is becoming the ultimate competitive advantage for modern lenders. Key Topics Discussed: • Closing as a Value Chain: Why the quality of your closing determines the quality of the collateral you sell. • The ROI of Digital: How automating the closing process can strip nearly $1,000 in costs out of every loan. • Beyond eSign & Hybrid: Exploring features like e-notes, e-vaults, and automated funding QC. • The Consumer Experience: Why shortening the cycle time by 18 days leads to a significant lift in NPS. • The 2026 Outlook: What lenders need to do now to prepare for a fully automated future. About the California MBA: The California MBA is the leading advocate for the mortgage industry in California, dedicated to promoting fair and ethical lending practices through advocacy, education, and innovation. Connect with us: Website: https://www.cmba.com https://www.linkedin.com/company/california-mba/

April 5, 202628 min

Mortgage Industry 2026 Outlook: Rates, Housing Supply & AI with John Hedlund

In this episode of the Connect Podcast, California MBA CEO Paul Gigliotti sits down with John Hedlund, Vice Chair of ICE, Vice Chairman of the National MBA, and California MBA Board Member. John shares powerful insights from ICE Experience “Win” event in Las Vegas and breaks down the biggest shifts facing mortgage finance today: • Interest rate forecasts and the realistic chances of a refi boom • Why housing affordability remains challenged despite potential market corrections • The truth about the U.S. housing supply shortage (and why oversupply could emerge in 5–10 years) • Changing demographics: Why younger generations are questioning traditional homeownership • Regulatory updates including Basel III, AI oversight, and state-level challenges • The role of technology and AI as core infrastructure (not just a feature) for efficiency and compliance • Real talk on cost per loan, productivity, scalability, and what originators need to focus on to stay competitive Whether you're a mortgage professional, lender, or industry leader, this conversation delivers thoughtful analysis and practical leadership perspectives you won't want to miss. Key Topics: • Mortgage rates and housing market outlook for 2026 • Housing supply & demand realities • AI and technology in mortgage operations • Regulatory landscape (Basel III, AI regulation) • Industry productivity and cost management Subscribe to the California MBA channel for more Connect Podcast episodes with top mortgage leaders. Sponsored by the 2026 President Council: AmeriHome, Western Alliance Bank, Consolidated Analytics, Loan DNA, CMG Financial, Guild Mortgage, Rocket Mortgage, and more.

March 8, 202614 min

Why AB1018 Could Raise Mortgage Costs 50%+ | Paul Gigliotti & Nick Pabarcus Discuss

In this episode of the INSIDE THE IMPACT Podcast from the California MBA, host Paul Gigliotti, CEO of the California MBA, sits down with Nick Pabarcus, Managing Director of Non-QM Sales at PennyMac, to break down California bill AB1018 and its potential impact on automated decision systems—including AI—in mortgage lending. AI has powered mortgage efficiency since 1997 with Automated Underwriting Systems (AUS), and today it's embedded "cradle to grave": from borrower applications and OCR income analysis to predictive servicing and expanding access for low-to-moderate-income (LMI) and Non-QM borrowers. Yet AB1018's broad rules could force manual underwriting opt-outs, spiking fulfillment costs by 50-60% (potentially adding tens of thousands in lifetime interest for borrowers) and reducing credit access—ironically harming the consumers it aims to protect. Nick shares how AI improves speed, accuracy, reduces bias when properly overseen, and is poised to commoditize the growing Non-QM market. Paul stresses the need for nuanced policy that recognizes the mortgage industry's heavy existing regulation. Key takeaways: Responsible AI expands opportunities and lowers barriers—overreach could do the opposite. Timestamps: 0:00 – Welcome & AB1018 Overview 0:45 – AI's Long History in Mortgages 3:59 – Operational Concerns with AB1018 7:20 – AI Benefits for LMI & Non-QM Borrowers 10:05 – PennyMac's Non-QM Expansion & AI's Role 12:10 – Final Thoughts: What Lawmakers Need to Know Subscribe to California MBA for more industry insights on legislation, innovation, and advocacy. Like, comment your thoughts on AB1018, and share with fellow mortgage professionals!

March 2, 202620 min

Unified POS/LOS + AI: Wilco's Charlie Changes Mortgage Production Forever

Join Paul Gigliotti, CEO of California MBA, on Connect for Episode 254 with Tom Morelli from Wilco! Discover how Wilco is transforming mortgage origination with Charlie – a groundbreaking Production Optimization Platform (POP) that unites POS, LOS, AI, and business intelligence into one seamless system. Key topics: - Why traditional LOS/POS silos are broken and costing lenders $11-13K per loan - Making the borrower a true partner with real-time transparency and no more repeated document requests - Breaking workflows into discrete activities for parallel processing, higher quality, and lower fallout Wilco's founding vision from industry legends (DocuSign, Optimal Blue, Ellie Mae) - The Brimma acquisition: AI-powered content intelligence (DocFlow OCR/ICR) for quick wins – even if you're not ready for full Charlie - Business intelligence that self-diagnoses bottlenecks and sets data-driven expectations Whether you're a lender battling high origination costs, prepping for the next refi wave, or exploring AI in mortgage tech, this episode is packed with insights! Timestamps: 0:00 - Intro & Sponsor Shoutouts (AmeriHome, Western Alliance Bank, etc.) 2:30 - Meet Tom Morelli & Wilco's Founding Team 5:00 - The Broken State of Origination: Costs, Silos & Duplication 9:45 - Core Philosophy: Unified POS/LOS for Borrower-Centric Experience 15:20 - Discrete Activities Workflow & Parallel Processing 20:10 - Real Borrower Impact: Speed, Accuracy & Fewer Frustrations 25:40 - Reducing Late Fallout & Cost to Originate 28:00 - Brimma Acquisition: AI DocFlow & Modular Content Intelligence 32:15 - Business Intelligence: Real-Time Bottlenecks & Stats-Driven Insights Subscribe to California MBA for more industry-leading conversations on advocacy, tech, and mortgage innovation. Like & comment: What's your biggest origination pain point? Learn more about Wilco: https://www.wilco.io/ (or official site) California MBA: https://www.camortgage.org/ #MortgageTech #LoanOrigination #AITech #MortgageLending #ProductionOptimization #CharliePlatform #Wilco #CaliforniaMBA #Podcast