What the M

Hosted by Kent D. McPhail and Stephen M. Hladik

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Latest episode

Nov 2026

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About the show

Do you ever wonder who is behind the scenes collecting and processing all those monthly mortgage payments throughout the entire country? In the world of residential mortgages, the mortgage servicing industry is a critical but not always visible player in the lending and home ownership process. Unveiling how mortgage servicers manage the residential homeownership industry is the concept behind “What the M,” a new podcast that discusses the complex issues facing default services and the path forward for the mortgage industry and homeowners alike. The industry is comprised of more than 160 mortgage servicers representing more than 80% of the outstanding principal balances on mortgages in the U.S. Without the involvement of these vital mortgage servicers, obtaining and maintaining a home mortgage as we know it would not exist.“‘What the M’ features industry movers and shakers discussing the challenges faced by mortgage servicers, law firms and the American homeowner,” said Stephen Hladik, one of the co-hosts for the podcast and chair of the Advisory Council of the Legal League 100. “We will discuss trends in the economy, regulatory oversight, changes in the law, changes in technology and a myriad of other factors affecting the industry.”Hladik and co-host Kent McPhail are experienced attorneys with multistate practices in the default servicing industry. Both have decades of experience representing secured creditors; however, each host brings his own unique perspective to the podcast. McPhail hails from the Deep South (think boiled peanuts and shrimp & grits), while Hladik hails from the Northeast (think cheesesteaks and scrapple). “With this Yin and Yang, we hope to bring an entertaining and informative approach to the industry and those who make it hum,” McPhail said.Episodes of “What the M” begin airing mid-September and can be found wherever you listen to podcasts.

Listen to episodes

60 recent

November 2, 2026Episode 7447 min

Episode 74 - James Lee Returns

The 74th episode of What the M is a special election-themed episode! James "Jim" Lee, President and CEO of Susquehanna Polling & Research, Inc. has returned to talk to Kent and Steve about the upcoming midterm elections. Susquehanna Polling and Research (SP&R) is a nationally recognized survey, research, and polling firm headquartered in Pennsylvania. Founded in 2000, SP&R includes a team of research associates with more than 50 years of combined experience, including telephone agents, focus group recruiters and other consultants. SP&R specializes in a full range of research services for businesses and state agencies, national and state trade associations, hospitals and health systems, candidates for public office and media outlets. The firm conducts polling in more than thirty states. Jim’s extensive experience makes him the perfect guest for Kent and Steve to ask about the November 3, 2026 election, specifically how polling is trending in battleground states, what we learned about polling from the 2024 election, and much more. Welcome back to What the M, Jim!

October 26, 2026Episode 7327 min

Episode 73 - Remembering Brooke Sanchez

The 73rd episode of What the M is a tribute to Kent McPhail's law partner, Brooke Sanchez, and a re-broadcast of Episode 29, which Brooke co-hosted in Kent’s stead with Steve Hladik. Brooke Ellen Sanchez attended the University of South Alabama and graduated in 2002 with a Bachelor’s of Science in Communication. After graduation, Brooke attended Cumberland School of Law in Birmingham, Alabama, from which she graduated in 2005. Brooke joined McPhail Sanchez, LLC in 2018. She was licensed under the Florida Bar, the Alabama Bar, and the Tennessee Bar. Brooke served as Treasurer for the International Women’s Insolvency Restructuring Confederation Gulf Coast and was a member of the Special Initiatives Working Group of Legal League 100. She was the Chair of the Bankruptcy Section of the Mobile Bar Association. Brooke and her husband, Chris, have one son and she enjoyed living in Midtown Mobile. Brooke was loved and admired by all who knew her, and is greatly missed.

October 12, 2026Episode 7240 min

Episode 72 - Steven Nesmith

The 72nd episode of What the M features Steven Nesmith, CEO of the Richmond Redevelopment and Housing Authority. In this episode, Kent and Steve sit down with Steven to talk about the affordable housing shortage and how public housing is changing. They discuss mixed-income communities, modular construction, converting commercial buildings into housing, and new ways to finance redevelopment. Steven also shares how his experience in public service, law, and mortgage servicing, along with his own upbringing in public housing, shaped his approach to helping residents build a path toward homeownership and greater opportunity. Welcome to What the M, Steven!

September 28, 2026Episode 7132 min

Episode 71 - Mark McArdle

The 71st episode of What the M features Mark McArdle, Senior Vice President of Regulatory Relations, Public Policy and Stakeholder Engagement at Newrez, LLC. In this episode, industry veteran Mark McArdle shares his unique perspective on the evolving regulatory landscape in mortgage servicing, the impact of state and federal enforcement priorities, and the role of technology and AI in compliance. Before turning to the servicer side, Mark worked for the United States Treasury Department and was the Assistant Director of Mortgage Markets at the CFPB from 2017 to 2025, where he led a team that worked closely with industry and other stakeholders to help inform the Bureau and the public on current and future trends in the mortgage origination and servicing markets. He also led efforts to modernize HMDA reporting and spearheaded the Bureau’s mortgage response to COVID-19. At Newrez, he leads initiatives to shape mortgage policy, partnering closely with regulators, trade groups, consumer groups and other stakeholders. Having worked in all facets of the industry, Mark has invaluable insights to share on navigating the complex environment of mortgage regulation and how industry players can adapt. Welcome to What the M, Mark!

September 11, 2026Episode 701 hr 8 min

Episode 70 - Brian D. Montgomery

In this special episode of “What the M,” Steve and Kent are honored to welcome Brian D. Montgomery as a guest. While Brian is well-known throughout the mortgage default servicing industry for his distinguished career in housing finance and public service, he also has a unique firsthand perspective on one of the most consequential days in American history: as the Director of Presidential Advance, he was traveling aboard Air Force One with President George W. Bush on September 11, 2001. For the 25th anniversary of that fateful day, Brian was kind enough to visit with us and answer questions about the events, the aftermath, and the moments he most vividly remembers. Brian D. Montgomery is a former Deputy Secretary of the U.S. Department of Housing and Urban Development (HUD) and two-time Federal Housing Commissioner. He served in senior leadership roles under Presidents George W. Bush, Barack Obama, and Donald Trump, becoming the only person to lead the Federal Housing Administration twice. As Director of Presidential Advance, Montgomery traveled extensively with President George W. Bush and, in addition to being aboard Air Force One with the President on September 11, 2001, he helped coordinate presidential events and logistics in the days that followed, including visits to the Pentagon and Ground Zero. He later received the September 11 Presidential Distinguished Service Award for his service. With more than 30 years of experience in government and housing finance, Montgomery has played a significant role in housing policy, mortgage finance, disaster recovery, and regulatory reform. We are honored to welcome Brian to the podcast.

August 31, 2026Episode 6942 min

Episode 69 - Rick Sharga & Daren Blomquist

The 69th episode of What the M features Rick Sharga, CEO and President of the CJ Patrick Company, and Daren Blomquist, Vice President of Market Economics at Auction.com. It’s that time again… for a new SEASON of What the M! In the first four seasons of What the M, Kent and Steve were fortunate enough to interview an incredible roster of talented professionals about their insights and predictions for the default servicing industry. To kick off Season 5, in what has become an annual tradition, they have brought in Rick Sharga and Darin Blomquist to discuss the current state of the economy and their predictions for the upcoming year. Rick Sharga is one of the country’s most frequently-quoted sources on real estate, mortgage, and foreclosure trends. Rick is the CEO and President of the CJ Patrick Company, a company that specializes in market intelligence for companies in the real estate and mortgage industries. Rick has more than 30 years of experience in the real estate and mortgage industries, previously serving in executive roles for Realty Trac, Carrington Mortgage Holdings, Ten-X, and Auction.com. He is also a founding member of the Five Star Institute’s National Mortgage Servicing Association. Daren Blomquist is the Vice President of Market Economics at Auction.com. Daren is a former Senior Vice President of Communications at ATTOM Data Solutions, where he reported on housing trends, cash and investor purchases, housing risks, default trends, and more. These reports have been cited by thousands of media outlets nationwide, including The Wall Street Journal, The New York Times, and USA TODAY. Daren also served as Executive Editor of the Housing News Report, which was named best newsletter by the National Association of Real Estate Editors in 2015 and 2016. In 2019, Daren transitioned to Auction.com, where he focuses on analyzing and forecasting complex macro and micro-economic data trends within the real estate market and industry. Welcome BACK to What the M, Rick and Daren!

June 8, 2026Episode 6824 min

Episode 68 - The Last Question (Season 4 Finale)

Welcome to the season 4 finale of What the M! This season, Kent and Steve have interviewed amazing, thoughtful, and brilliant guests. Each guest has been uniquely qualified to speak about different aspects of the default servicing industry, and has provided valuable information to What the M’s listeners. Each guest is unique, but they all have one thing in common: they all got to answer “The Last Question.” At the end of each episode, Kent and Steve ask their guest: “If you could go back in time and talk with the 20-year-old version of yourself, what advice would you give that young man/woman?” The answers were so fascinating, funny, and unpredictable, that we decided there was no better way to close out the season than with a compilation of the collective wisdom of these responses! We hope you enjoy this season finale of our fourth season of What the M as much as we did. Season 5 of What the M will air in September, so stay tuned! If you are interested in appearing on What the M, or have an idea for an episode, you can contact us on Facebook, Twitter, or Instagram. You can listen to What the M at the link below, or wherever you listen to podcasts! If you enjoy listening to What the M, please rate, review and subscribe. A huge thank you to our Season 4 sponsor, Black Dome Services. Black Dome Services is a next-generation property services provider, offering a comprehensive range of services tailored to the unique needs of their clients. From property inspections, preservation, maintenance, renovations and various other interior and exterior property related services, you have a trusted leader dedicated to delivering exceptional results and maximizing the value of your properties. For more information, please visit their website at www.blackdomeservices.com or email Vic Draper at Victor.Draper@blackdomeservices.com .

April 20, 2026Episode 6738 min

Episode 67 - Joe Lara

The 67th episode of What the M features Joe Lara, founder of Find the X, plus a tribute to Ingrid Jaschok, a giant of the industry who we lost last week, by Michael Merritt. In this episode, Kent and Steve sit down with Joe to discuss his company, Find The X LLC. Find the X is a veteran-owned business that provides leadership development, talent development, and career transition support for organizations operating in complex, high-responsibility environments. Find the X helps leaders strengthen decision-making, build trust across teams, and navigate key career moments with clarity and purpose. Welcome to What the M, Joe! A huge thank you to our Season 4 sponsor, Black Dome Services. Black Dome Services is a next-generation property services provider, offering a comprehensive range of services tailored to the unique needs of their clients. From property inspections, preservation, maintenance, renovations and various other interior and exterior property related services, you have a trusted leader dedicated to delivering exceptional results and maximizing the value of your properties. For more information, please visit their website at www.blackdomeservices.com or email Vic Draper at Victor.Draper@blackdomeservices.com .

March 16, 2026Episode 6632 min

Episode 66 - Talia Ramirez

The 66th episode of What the M features Talia Ramirez, President of Spectrum Solutions Acquisitions LLC. In this episode, Kent and Steve talk to Talia about her journey in the mortgage default servicing industry. Talia is well known within the industry for her incredible skills, including problem-solving, developing smarter ways to increase efficiency and productivity across teams, and helping teams and companies overcome obstacles. Talia’s mantra, “Be bold! Stop asking if you belong. Start operating like you built the table,” is great advice for all women in the industry. Welcome to What the M, Talia! A huge thank you to our Season 4 sponsor, Black Dome Services. Black Dome Services is a next-generation property services provider, offering a comprehensive range of services tailored to the unique needs of their clients. From property inspections, preservation, maintenance, renovations and various other interior and exterior property related services, you have a trusted leader dedicated to delivering exceptional results and maximizing the value of your properties. For more information, please visit their website at www.blackdomeservices.com or email Vic Draper at Victor.Draper@blackdomeservices.com .

February 23, 2026Episode 6535 min

Episode 65 - Sam Hantosh

The 65th episode of What the M features Sam Hantosh, Real Estate Broker at RE/MAX Team 2000. In this episode, Kent and Steve sit down with Sam to talk about what Real Estate Owned (“REO”) Sales are and what it is like to be the boots on the ground— from securing possession, to getting a property ready to market, to securing a sale. The REO process is a vital part of the finalization of the foreclosure process, and it takes not only a lot of work but a lot of skill to assist servicers in getting these properties sold. Sam has been a longtime participant in the REO market in Michigan, who brings with him a great deal of experience, know-how and advice. Most listeners of What the M see REO from the servicing or asset management side; on today’s episode, Sam talks to Kent and Steve about what actually happens once the property hits the market. Welcome to What the M, Sam! A huge thank you to our Season 4 sponsor, Black Dome Services. Black Dome Services is a next-generation property services provider, offering a comprehensive range of services tailored to the unique needs of their clients. From property inspections, preservation, maintenance, renovations and various other interior and exterior property related services, you have a trusted leader dedicated to delivering exceptional results and maximizing the value of your properties. For more information, please visit their website at www.blackdomeservices.com or email Vic Draper at Victor.Draper@blackdomeservices.com .