WEBVTT 00:00:05.320 --> 00:00:07.639 All right, Value Nation Nation, we are back. 00:00:07.940 --> 00:00:10.580 Happy New Year. Hope everybody had a great holiday 00:00:10.580 --> 00:00:12.380 season. Really excited to be kicking off this 00:00:12.380 --> 00:00:14.539 new year. You know, we took a little hiatus, 00:00:14.560 --> 00:00:16.899 but we're back. We're back. And we got a big 00:00:16.899 --> 00:00:19.039 one for you. Not only do we have a big guest, 00:00:19.140 --> 00:00:22.780 he's also the big boss. This man became CEO of 00:00:22.780 --> 00:00:25.079 Nationwide in October 2020. Since that time, 00:00:25.120 --> 00:00:27.940 he's overseen four acquisitions and mergers with 00:00:27.940 --> 00:00:30.300 other AMCs to help us grow the Nationwide family. 00:00:30.359 --> 00:00:33.530 Yes, Charlie, I saw it. Four piece. Four. He's 00:00:33.530 --> 00:00:35.990 also been doing the hard work, guiding this company 00:00:35.990 --> 00:00:37.990 through what's been some of the toughest years 00:00:37.990 --> 00:00:40.450 in the AMC business as a whole. When he's not 00:00:40.450 --> 00:00:42.469 working, he enjoys an occasional round of golf 00:00:42.469 --> 00:00:44.630 where I heard he's got a little bit of game. 00:00:44.850 --> 00:00:46.409 I haven't had a chance to take money off him 00:00:46.409 --> 00:00:49.490 yet, but maybe one of these days. He also enjoys 00:00:49.490 --> 00:00:51.329 entertaining our company, partaking in our holiday 00:00:51.329 --> 00:00:54.369 events that we have via Zoom. I have seen this 00:00:54.369 --> 00:00:57.320 man in some very short shorts. Bracken, a nice 00:00:57.320 --> 00:01:00.740 little afro wig, Jackie Moon, really good stuff. 00:01:00.920 --> 00:01:03.460 But anyways, without further ado, here's the 00:01:03.460 --> 00:01:05.980 man of the hour, our CEO of Nationwide Property 00:01:05.980 --> 00:01:09.079 Appraisal Services, Sri Belamati. Welcome, sir. 00:01:09.239 --> 00:01:11.379 Thanks, Charlie. I appreciate you guys having 00:01:11.379 --> 00:01:14.459 me on. I'm excited. I've been seeing the podcast 00:01:14.459 --> 00:01:17.159 for some time now and excited that I finally 00:01:17.159 --> 00:01:21.140 made the cut to make it on. So that's good news. 00:01:21.379 --> 00:01:24.120 No, it's awesome. Awesome to have you. We appreciate 00:01:24.120 --> 00:01:26.280 you carving out some time. We know you have you 00:01:26.280 --> 00:01:30.019 wear many hats for this company. So, you know, 00:01:30.019 --> 00:01:32.620 it's it means a lot that you're investing some 00:01:32.620 --> 00:01:34.519 time into this little side project that we've 00:01:34.519 --> 00:01:36.500 created. You know, outside of the golf game. 00:01:37.310 --> 00:01:39.900 I've learned this morning that you are... A little 00:01:39.900 --> 00:01:42.980 bit of a skier. I am. Yeah, emphasis on a little 00:01:42.980 --> 00:01:47.920 bit. We went out skiing out west and then went 00:01:47.920 --> 00:01:49.900 through. It was fun. It was, you know, I think 00:01:49.900 --> 00:01:52.980 there was snow like halfway down the mountain 00:01:52.980 --> 00:01:54.900 or halfway up the mountain. The rest of it, I 00:01:54.900 --> 00:01:57.459 think we found a lot of rocks and grass and stuff 00:01:57.459 --> 00:01:59.140 like that. But it was pretty cool. I was excited 00:01:59.140 --> 00:02:02.980 to do that. My goal used to be ski, have fun, 00:02:03.040 --> 00:02:06.040 go fast, you know, that type of stuff. Now it's 00:02:06.040 --> 00:02:09.000 like come back in one piece. Don't tear an ACM. 00:02:09.939 --> 00:02:13.520 Don't have physical therapy. So I accomplished 00:02:13.520 --> 00:02:15.800 my goal this year. So I'm excited about that. 00:02:15.819 --> 00:02:18.139 I feel that. I feel that. Yeah. So you're not 00:02:18.139 --> 00:02:20.659 a black diamond kind of guy. No, man. No, no, 00:02:20.659 --> 00:02:23.900 no. Not at all. Those days are behind me. My 00:02:23.900 --> 00:02:26.539 wife still likes skiing. She prefers it, I think, 00:02:26.580 --> 00:02:29.460 still. But we both have the same mantra in the 00:02:29.460 --> 00:02:31.500 back of our head. Just go back home in one piece. 00:02:31.719 --> 00:02:33.840 So for those of you at home that don't know. 00:02:34.219 --> 00:02:37.599 Our fearless leader is a MIT grad, correct? I 00:02:37.599 --> 00:02:41.360 am. So as soon as I hear MIT, I just immediately 00:02:41.360 --> 00:02:43.219 think of the movie Skull, like the little secret 00:02:43.219 --> 00:02:47.659 societies, Ivy League types. So, you know, do 00:02:47.659 --> 00:02:49.639 you wear like a special pinky ring or anything 00:02:49.639 --> 00:02:52.020 like that when you're not like your day to day 00:02:52.020 --> 00:02:56.400 stuff? So it's funny, like MIT is actually not 00:02:56.400 --> 00:02:59.199 an Ivy League school. Believe it or not, it is 00:02:59.199 --> 00:03:02.680 not an Ivy League school. It is. An independent 00:03:02.680 --> 00:03:04.580 school has nothing to do with the Ivy League, 00:03:04.659 --> 00:03:07.719 although because it's like right next to a lot 00:03:07.719 --> 00:03:10.460 of the other Ivies and is a is a great school, 00:03:10.520 --> 00:03:13.500 you know, has that same sort of reputation. Yeah. 00:03:13.620 --> 00:03:16.680 And but I'll tell you, never didn't have to worry 00:03:16.680 --> 00:03:19.599 about losing a bowl games the last couple of 00:03:19.599 --> 00:03:22.800 weeks. We don't get any of that. So, yeah, I 00:03:22.800 --> 00:03:24.900 enjoyed watching a lot of other bowl games. But 00:03:24.900 --> 00:03:29.669 yeah, we we yeah, it's there is a. A lot of a 00:03:29.669 --> 00:03:32.310 lot of super, super smart people. They're way, 00:03:32.389 --> 00:03:35.069 way smarter than me. And it's impressive seeing 00:03:35.069 --> 00:03:37.069 what some of those folks get to go through and 00:03:37.069 --> 00:03:40.189 do. But, yeah, pretty cool. It didn't do there 00:03:40.189 --> 00:03:43.629 was no like there's no like fraternities there. 00:03:43.729 --> 00:03:46.530 There's no the secret societies are a little 00:03:46.530 --> 00:03:50.889 bit up the street. It is, you know. So MIT and 00:03:50.889 --> 00:03:54.590 Harvard have, we sometimes don't refer to each 00:03:54.590 --> 00:03:57.530 other by name. It's the school up the street 00:03:57.530 --> 00:03:59.909 is sometimes the way a lot of our professors 00:03:59.909 --> 00:04:04.509 used to call it. And so, yeah, so that's where 00:04:04.509 --> 00:04:07.650 a lot of the secret society showed up was there. 00:04:07.770 --> 00:04:10.590 And we didn't, we didn't party that much, but 00:04:10.590 --> 00:04:14.419 we would go there to party. They had a little 00:04:14.419 --> 00:04:16.680 bit, believe it or not, a little bit better parties. 00:04:16.680 --> 00:04:19.040 Not by much, but it was a little bit more fun. 00:04:19.240 --> 00:04:22.959 I mean, it's still a prestigious place to get 00:04:22.959 --> 00:04:27.589 an education. Great school. Yeah. Yeah. Thank 00:04:27.589 --> 00:04:31.310 you. You know, phenomenal professors really learned 00:04:31.310 --> 00:04:33.610 a lot. And it was it was a great place to be 00:04:33.610 --> 00:04:37.629 and always enjoyed being there in Boston, except 00:04:37.629 --> 00:04:42.250 for the winter when it was it was those winters 00:04:42.250 --> 00:04:45.990 were real. And when it snows, their sewer system 00:04:45.990 --> 00:04:49.470 is terrible. So. The snow stays for a while, 00:04:49.550 --> 00:04:53.069 and it just turns to slush, and it's even worse. 00:04:53.269 --> 00:04:56.129 The slush is the worst. I can agree. Yeah. Being 00:04:56.129 --> 00:04:58.230 in Cleveland, that was the worst thing. And it's 00:04:58.230 --> 00:05:01.310 ugly. It's everywhere. So a little bit more on 00:05:01.310 --> 00:05:04.329 you, and then we'll get into some of your great 00:05:04.329 --> 00:05:07.970 takes on 2023 and where we're going. You already 00:05:07.970 --> 00:05:11.110 mentioned you're a family man, which is great 00:05:11.110 --> 00:05:13.209 for us as a company. You have a different appreciation 00:05:13.209 --> 00:05:16.509 for. what a lot of the folks are doing, right? 00:05:16.629 --> 00:05:19.250 You have about 25 years of experience in the 00:05:19.250 --> 00:05:23.490 industry? Yeah, 25 years experience. I started 00:05:23.490 --> 00:05:28.449 my days back in the 1990s, mid to late 90s at 00:05:28.449 --> 00:05:30.829 the Appraisal Institute, way back when. So it's 00:05:30.829 --> 00:05:35.209 been a while. Getting closer to 30 than to 25 00:05:35.209 --> 00:05:37.970 now. So kind of moving in that direction, I guess. 00:05:38.129 --> 00:05:41.350 And you kind of stumbled into real estate and... 00:05:41.920 --> 00:05:44.600 You know, the appraisal world, without really 00:05:44.600 --> 00:05:48.019 knowing much or anything about it, was really 00:05:48.019 --> 00:05:52.360 fortunate to have a great mentor who was at the 00:05:52.360 --> 00:05:55.120 Appraisal Institute there, John Ross, sort of 00:05:55.120 --> 00:05:58.540 take me under his wing, teach me about the industry 00:05:58.540 --> 00:06:00.720 as a whole, a lot of things that were going on. 00:06:00.860 --> 00:06:05.000 And still a number of the people who are in the, 00:06:05.220 --> 00:06:09.459 like, I would say. More in the administrative 00:06:09.459 --> 00:06:14.120 slash political world, like the appraisal subcommittee 00:06:14.120 --> 00:06:16.360 and those sorts of folks, appraisal foundation 00:06:16.360 --> 00:06:19.379 and other places. Though I was there, they're 00:06:19.379 --> 00:06:22.879 still around and really enjoyed being on the 00:06:22.879 --> 00:06:24.620 industry side of the business. And then kind 00:06:24.620 --> 00:06:26.579 of transitioned over to be a commercial appraiser 00:06:26.579 --> 00:06:30.120 myself, actually worked for Standard & Poor's, 00:06:30.279 --> 00:06:33.939 doing commercial appraisals all around the world 00:06:33.939 --> 00:06:36.060 on all kinds of different property types from 00:06:36.060 --> 00:06:40.430 cell phone towers. department stores in Scandinavia 00:06:40.430 --> 00:06:42.790 and everything in between. It was really, really 00:06:42.790 --> 00:06:46.069 cool and was really trying to learn from really 00:06:46.069 --> 00:06:49.750 smart people and enjoyed that time. Thought it 00:06:49.750 --> 00:06:54.110 was a real thrill and was a young man, wasn't 00:06:54.110 --> 00:06:57.269 married and got to travel the world doing appraisal 00:06:57.269 --> 00:06:59.350 work. And it was fantastic. And then kind of 00:06:59.350 --> 00:07:02.110 moved on to a couple of other things, really 00:07:02.110 --> 00:07:05.250 moved on into the investment and development 00:07:05.250 --> 00:07:07.930 side of the business, working for and public 00:07:07.930 --> 00:07:11.069 and private REITs. Really enjoyed that as well. 00:07:11.129 --> 00:07:13.750 Got exposed to kind of being on the decision 00:07:13.750 --> 00:07:16.269 maker side of the business and was doing that 00:07:16.269 --> 00:07:19.430 on the commercial real estate side for a couple 00:07:19.430 --> 00:07:22.769 of decades. Went through the financial crisis 00:07:22.769 --> 00:07:26.370 of 2008 and nine while being in the development 00:07:26.370 --> 00:07:29.610 investment side, working on multifamily and retail 00:07:29.610 --> 00:07:32.449 and office and hotel and you name it and all 00:07:32.449 --> 00:07:34.430 of that sort of stuff and really enjoyed it. 00:07:34.449 --> 00:07:37.240 Got exposed to every. thing, you know, again, 00:07:37.379 --> 00:07:41.560 from like a whole foods to a high rise, you know, 00:07:41.560 --> 00:07:44.879 apartment building to condos to hotels and try 00:07:44.879 --> 00:07:47.519 to figure out what's, what makes these things 00:07:47.519 --> 00:07:50.220 tick in different markets and how do we get better 00:07:50.220 --> 00:07:53.040 running those businesses? How do we get better 00:07:53.040 --> 00:07:55.439 in terms of investing in those businesses and 00:07:55.439 --> 00:07:58.160 developing them? And then in around 2020, kind 00:07:58.160 --> 00:08:01.980 of, you know, around COVID, you know, found another 00:08:01.980 --> 00:08:05.240 transition and it was really, you know, it was 00:08:05.420 --> 00:08:08.519 It was a really big year for everybody, obviously. 00:08:08.680 --> 00:08:10.279 You know, nobody knew what the heck COVID was 00:08:10.279 --> 00:08:12.779 like. Like, I don't know, months or years or 00:08:12.779 --> 00:08:15.560 whatever the heck it was. It brings back some 00:08:15.560 --> 00:08:20.139 PTSD. Absolutely. You know, right down our office, 00:08:20.360 --> 00:08:22.779 I remember telling everybody, grab what you need, 00:08:22.939 --> 00:08:25.339 go home and, you know, we'll see you when we 00:08:25.339 --> 00:08:28.240 see you. And that turned out to be a long, long 00:08:28.240 --> 00:08:30.740 time later. But then I also wound up transitioning 00:08:30.740 --> 00:08:33.960 out of that job and kind of put myself into a 00:08:33.960 --> 00:08:36.799 spot where I said, all right, well, now that 00:08:36.799 --> 00:08:39.120 I got to make some changes, what do I do? And 00:08:39.120 --> 00:08:42.059 was fortunate to spend like the summer months 00:08:42.059 --> 00:08:45.179 of COVID in 2020. just kind of hanging out with 00:08:45.179 --> 00:08:47.539 my boys. They didn't enjoy it because they had 00:08:47.539 --> 00:08:50.220 to be with dad and mom. And they're like, we 00:08:50.220 --> 00:08:53.440 can't hang out with their friends. And so, but 00:08:53.440 --> 00:08:55.259 I was like, all right, let's go throw a baseball 00:08:55.259 --> 00:08:57.879 around or let's go, you know, run around and, 00:08:57.899 --> 00:09:00.200 you know, whatever. And that was cool. And so 00:09:00.200 --> 00:09:03.799 it was, it was fun that that first year kind 00:09:03.799 --> 00:09:06.100 of getting reacquainted with family and kind 00:09:06.100 --> 00:09:09.659 of, you know, resetting to kind of basics. Oh, 00:09:09.659 --> 00:09:11.440 for sure. I think we all felt that at some level. 00:09:11.539 --> 00:09:13.700 And me and Schwartz have joked, you know, from 00:09:13.700 --> 00:09:16.860 time to time about what all of that was at that 00:09:16.860 --> 00:09:18.820 time. And I think real quick, you know, we had 00:09:18.820 --> 00:09:22.120 a lot of appreciation for more time with the 00:09:22.120 --> 00:09:24.080 kids, right? And then quickly determined that 00:09:24.080 --> 00:09:27.500 we were not teachers and that we were not equipped 00:09:27.500 --> 00:09:30.620 to do our job as well as a full -time teacher's 00:09:30.620 --> 00:09:35.169 job. So in all that came with that. You're right. 00:09:35.230 --> 00:09:37.950 It's what may have been months turns into years. 00:09:38.049 --> 00:09:41.409 And it's just a blur and thankful that we now 00:09:41.409 --> 00:09:44.470 are where we are and through the other side. 00:09:44.509 --> 00:09:45.929 Right. So what are we thinking here? You want 00:09:45.929 --> 00:09:49.730 to dive into 2023 here, Mr. Charlie? Yeah, let's 00:09:49.730 --> 00:09:52.110 do it. Let's do it. So, you know, as we say, 00:09:52.169 --> 00:09:54.490 it's a wrap. You know, 2023 is a wrap. Finally, 00:09:54.590 --> 00:09:58.590 we're looking out at 24 and beyond. So I'm curious, 00:09:58.730 --> 00:10:02.679 what are you most proud about? with Nationwide 00:10:02.679 --> 00:10:05.259 as a whole since you've come on board. I mean, 00:10:05.279 --> 00:10:07.080 obviously besides Value Nation, because we're 00:10:07.080 --> 00:10:09.360 kind of a big deal for the company now. Right, 00:10:09.360 --> 00:10:12.759 yeah. For me, there's, well, it's sort of two 00:10:12.759 --> 00:10:15.980 things. So big picture, what I'll start with 00:10:15.980 --> 00:10:18.539 is, so since I've sort of been on, what I've 00:10:18.539 --> 00:10:22.100 been amazed about with Nationwide, with our organization 00:10:22.100 --> 00:10:25.820 and our folks is, I feel like the team works 00:10:25.820 --> 00:10:29.620 together, not so much for me or for anything 00:10:29.620 --> 00:10:32.919 else, but. because we work for each other. So 00:10:32.919 --> 00:10:35.919 a lot of times I see people working hard. So 00:10:35.919 --> 00:10:39.039 Mike or Charlie, if you all have a client who 00:10:39.039 --> 00:10:41.120 needs something and you're reaching out to ops 00:10:41.120 --> 00:10:43.879 to go through it, they're doing that and trying 00:10:43.879 --> 00:10:47.259 to take care of that work and maybe staying a 00:10:47.259 --> 00:10:50.100 little longer or going the extra mile to ensure 00:10:50.100 --> 00:10:53.899 the assignment was done properly. And they're 00:10:53.899 --> 00:10:56.259 doing it because they're doing it for you all. 00:10:56.670 --> 00:10:58.450 They're not doing it for me. They're not doing 00:10:58.450 --> 00:11:01.070 it for the appraiser or the client or anything. 00:11:01.190 --> 00:11:04.090 They're doing it because as a team, we really 00:11:04.090 --> 00:11:05.889 sort of believe in each other and want to do 00:11:05.889 --> 00:11:07.590 the right thing for each other and take care 00:11:07.590 --> 00:11:09.950 of each other. And I've seen that time and time 00:11:09.950 --> 00:11:12.710 again where folks go through the extra mile to 00:11:12.710 --> 00:11:15.649 try to help each other out and pull each other 00:11:15.649 --> 00:11:18.049 through any problems or difficulties and things 00:11:18.049 --> 00:11:21.470 like that. Because life is, in my mind, it's 00:11:21.470 --> 00:11:24.200 just problems you're solving. You know, there 00:11:24.200 --> 00:11:26.539 is no good or bad. It's just things get thrown 00:11:26.539 --> 00:11:27.960 at you. And, you know, how are you going to go 00:11:27.960 --> 00:11:30.559 through and figure it out? And it's what you 00:11:30.559 --> 00:11:33.379 make of it. And if you do something positive 00:11:33.379 --> 00:11:35.440 with it, you find happiness and you find joy. 00:11:35.600 --> 00:11:37.980 And if you let it continue to keep beating you 00:11:37.980 --> 00:11:41.299 down, then that... takes over. So I think that 00:11:41.299 --> 00:11:43.779 that's really the biggest theme that I saw, and 00:11:43.779 --> 00:11:47.539 especially in 23, after two really, really brutal 00:11:47.539 --> 00:11:51.940 years, in 23, you know, resilience, right? I 00:11:51.940 --> 00:11:55.200 mean, when you're going through a year like 23, 00:11:55.379 --> 00:11:58.220 and you're trying to talk to your client partners, 00:11:58.360 --> 00:12:00.679 and you're trying to talk to appraisers, and 00:12:00.679 --> 00:12:03.470 you're talking to each other every day. was just 00:12:03.470 --> 00:12:05.789 bad news, right? Like, you know, you might go 00:12:05.789 --> 00:12:08.090 through and do something positive and might have 00:12:08.090 --> 00:12:11.210 been able to help somebody. But for every opportunity 00:12:11.210 --> 00:12:13.870 that you had, you had, you wound up getting two 00:12:13.870 --> 00:12:17.309 losses. You were already starting with a strike 00:12:17.309 --> 00:12:19.570 or two against you before you even got to bat, 00:12:19.710 --> 00:12:21.889 you know, and that's just the way it felt every 00:12:21.889 --> 00:12:24.970 day. And a lot of times it was people were working 00:12:24.970 --> 00:12:26.669 as hard as they could, doing everything they 00:12:26.669 --> 00:12:30.370 could. And you hated seeing friends in the lending 00:12:30.370 --> 00:12:34.190 space and friends in the... EMCs and appraisers 00:12:34.190 --> 00:12:36.350 who went through and said, I just can't do this 00:12:36.350 --> 00:12:39.210 anymore. I need to find something else or I've 00:12:39.210 --> 00:12:41.389 got to find another opportunity or whatnot. And 00:12:41.389 --> 00:12:44.789 we really, we lamented those losses. But what 00:12:44.789 --> 00:12:47.870 was really amazing about our team was we kept 00:12:47.870 --> 00:12:50.789 picking each other up. I mean, I can tell you 00:12:50.789 --> 00:12:54.090 how many times I talked to you all or talked 00:12:54.090 --> 00:12:56.809 to others in the company when I was like, gosh, 00:12:56.870 --> 00:12:59.129 I don't know how much more I can take of this. 00:12:59.230 --> 00:13:03.700 And somebody would would pump me up. And that 00:13:03.700 --> 00:13:06.519 was fantastic. And so that's, I would say, the 00:13:06.519 --> 00:13:10.779 biggest overall theme of 23 was resilience. Because 00:13:10.779 --> 00:13:13.940 I think we knew as a company, and we looked at 00:13:13.940 --> 00:13:20.019 2000 and 2008, and those companies who really 00:13:20.019 --> 00:13:25.980 grew and were striving to get better, would come 00:13:25.980 --> 00:13:29.299 out on the other side of those sorts of challenges 00:13:29.299 --> 00:13:31.899 and those sorts of economies, which for us, 22 00:13:31.899 --> 00:13:34.720 and 23, is certainly in our industry, one of 00:13:34.720 --> 00:13:37.120 those economies, you definitely come out stronger. 00:13:37.259 --> 00:13:41.299 And we saw stories of that. We really practiced 00:13:41.299 --> 00:13:44.299 that and we reached. preached investing in ourselves. 00:13:44.679 --> 00:13:47.500 And we did a number of those things. So for example, 00:13:47.600 --> 00:13:50.480 we partnered with and acquired Integrity Appraisal 00:13:50.480 --> 00:13:53.259 out of Texas. Sean Thompson has a phenomenal 00:13:53.259 --> 00:13:57.039 business, really great reputation business, great 00:13:57.039 --> 00:14:00.559 person, great team, brought them on. He brought 00:14:00.559 --> 00:14:03.620 on a number of fantastic clients and actually 00:14:03.620 --> 00:14:06.299 just through the end of the year, got them integrated, 00:14:06.440 --> 00:14:08.200 got them fully integrated into our business, 00:14:08.379 --> 00:14:11.340 got those folks on board. We're all working together 00:14:11.340 --> 00:14:15.179 as one team. servicing those clients in the exact 00:14:15.179 --> 00:14:17.220 same way we service all of our other clients. 00:14:17.399 --> 00:14:20.179 And that was fantastic. And I was really thrilled 00:14:20.179 --> 00:14:24.179 to go through and do that and make Texas our 00:14:24.179 --> 00:14:26.740 number one volume state, which is phenomenal 00:14:26.740 --> 00:14:29.820 considering how big of an opportunity it is and 00:14:29.820 --> 00:14:31.720 what sort of things we can do for a lot of our 00:14:31.720 --> 00:14:35.500 clients. We also are doing a few other things 00:14:35.500 --> 00:14:39.559 where we had started innovating on some products 00:14:39.559 --> 00:14:42.870 and started innovating. on some AI. I mean, one 00:14:42.870 --> 00:14:45.769 in particular that we've started talking about, 00:14:45.929 --> 00:14:47.909 but we are going to spend a lot of time on early 00:14:47.909 --> 00:14:51.009 here in 2024 is a product on AI implementation 00:14:51.009 --> 00:14:53.649 we're really, really proud of called Bioshield 00:14:53.649 --> 00:14:57.309 that really helps clients with bias language 00:14:57.309 --> 00:15:00.169 or language that Fannie and Freddie deems to 00:15:00.169 --> 00:15:03.149 be problematic. Razel screens for all of that. 00:15:03.679 --> 00:15:07.059 And depending on what clients want, we can do 00:15:07.059 --> 00:15:10.639 so much more with that in terms of certain comp 00:15:10.639 --> 00:15:15.080 review, reviewing for other QC items, and being 00:15:15.080 --> 00:15:18.000 able to put that into our product offering. Something 00:15:18.000 --> 00:15:21.720 we hadn't been able to do before. And on top 00:15:21.720 --> 00:15:23.820 of which, we've actually gone through and done 00:15:23.820 --> 00:15:27.100 some studies and some research. And we found 00:15:27.100 --> 00:15:30.519 we can actually help clients reduce their underwriting 00:15:30.519 --> 00:15:34.070 errors by nearly 20%. helps their throughput, 00:15:34.210 --> 00:15:37.009 reduces the client cost, and really helps bring 00:15:37.009 --> 00:15:40.389 together, you know, align our interests and the 00:15:40.389 --> 00:15:43.070 client's interests very, very closely. So excited 00:15:43.070 --> 00:15:45.950 about doing that and doing more of that in 24. 00:15:46.289 --> 00:15:48.110 But those were some of the highlights. I mean, 00:15:48.129 --> 00:15:51.190 before we go into, you know, the future, like 00:15:51.190 --> 00:15:53.389 I know OneCharlie is being modest here, didn't 00:15:53.389 --> 00:15:55.629 bring it up, but STR Pro, I mean, this is something 00:15:55.629 --> 00:15:58.289 this guy has hands in. That's something else 00:15:58.289 --> 00:16:00.330 that we rolled out here in 2023. Why don't you 00:16:00.330 --> 00:16:02.870 let them know a little bit about that? Yeah, 00:16:02.889 --> 00:16:06.730 so short -term rental pro, we had clients and 00:16:06.730 --> 00:16:08.909 this is, Mike, you're absolutely right. It's 00:16:08.909 --> 00:16:12.029 a huge credit to Charlie. This is a great example 00:16:12.029 --> 00:16:15.009 of somebody on the front end of the business, 00:16:15.090 --> 00:16:17.870 somebody who interacts with clients like Charlie 00:16:17.870 --> 00:16:21.870 does on an hour in, hour out basis. And Charlie 00:16:21.870 --> 00:16:24.309 was hearing from his clients, from his non -QM 00:16:24.309 --> 00:16:28.029 clients, hey, I'm trying to figure out how to 00:16:28.029 --> 00:16:32.460 get an appraisal done. on an Airbnb property 00:16:32.460 --> 00:16:35.879 that has a unit or a couple of units and is trying 00:16:35.879 --> 00:16:38.720 to figure out what to do. And there isn't a great 00:16:38.720 --> 00:16:43.059 form for that. As we all know, Airbnb has been 00:16:43.059 --> 00:16:45.779 around for a while. The rental thing has been 00:16:45.779 --> 00:16:48.460 around for a little bit, even before COVID, but 00:16:48.460 --> 00:16:51.100 absolutely exploded during COVID. And it's the 00:16:51.100 --> 00:16:54.700 type of thing that really people were trying 00:16:54.700 --> 00:16:56.960 to figure out, it's like, fine, we'll do a couple 00:16:56.960 --> 00:17:00.220 of those loans a month. Two, we've got a lot 00:17:00.220 --> 00:17:03.919 of them, right? And you're sometimes doing 10 00:17:03.919 --> 00:17:08.640 or more a month. And some of the larger firms 00:17:08.640 --> 00:17:11.460 are doing well more than that. And so we put 00:17:11.460 --> 00:17:14.960 our heads together with our compliance team, 00:17:15.140 --> 00:17:17.140 with our product development team, with our tech 00:17:17.140 --> 00:17:21.660 team. and came up with a form that actually goes 00:17:21.660 --> 00:17:25.220 through, can pull rent comps together, can allow 00:17:25.220 --> 00:17:27.920 those qualified appraisers to go through and 00:17:27.920 --> 00:17:30.339 put this product offering out there. So we've 00:17:30.339 --> 00:17:33.259 had it put together. We can QC it and we can 00:17:33.259 --> 00:17:37.680 provide it. and a good turn time and at a very 00:17:37.680 --> 00:17:40.940 reasonable cost. So you can get that through. 00:17:41.180 --> 00:17:44.859 And I think it actually helps when you package 00:17:44.859 --> 00:17:46.980 that loan and you're selling it off to investors, 00:17:47.180 --> 00:17:50.880 you now have an appraisal that backs that up 00:17:50.880 --> 00:17:54.619 very well, is done by someone on a qualified 00:17:54.619 --> 00:17:56.960 basis, gives you all the information you're looking 00:17:56.960 --> 00:17:59.779 for, and allows somebody to be able to underwrite 00:17:59.779 --> 00:18:02.799 that loan, both from an internal perspective, 00:18:03.559 --> 00:18:05.859 obviously, which clients do, but also externally 00:18:05.859 --> 00:18:08.920 from a third party where you can verify the rent 00:18:08.920 --> 00:18:11.859 comps and the income stream and really pull that 00:18:11.859 --> 00:18:14.920 together. And I think that that's a huge credit 00:18:14.920 --> 00:18:18.220 to Charlie. And we're actually exploring a number 00:18:18.220 --> 00:18:21.779 of solutions like that going forward in 24. Yeah, 00:18:21.819 --> 00:18:25.039 I'm with you. It definitely attributed to some 00:18:25.039 --> 00:18:27.740 of the gray hairs that I have on my head, but 00:18:27.740 --> 00:18:30.200 it's definitely near and dear to my heart. A 00:18:30.200 --> 00:18:34.980 lot of my clients. And partners utilize the short 00:18:34.980 --> 00:18:37.519 -term rental, you know, set in those loan programs. 00:18:37.640 --> 00:18:40.380 So I'm glad that we were able to get it off the 00:18:40.380 --> 00:18:43.200 ground and running. And then we found that, you 00:18:43.200 --> 00:18:47.059 know, it wasn't entirely all on the form, although 00:18:47.059 --> 00:18:49.059 that was what was really needed to streamline 00:18:49.059 --> 00:18:51.799 and create one presentation. Figuring out the 00:18:51.799 --> 00:18:54.279 data sets and where they were getting the data 00:18:54.279 --> 00:18:57.380 from and helping kind of streamline that selection 00:18:57.380 --> 00:19:00.480 process as well, which goes back to our team. 00:19:01.579 --> 00:19:04.440 navigating all the different platforms and trying 00:19:04.440 --> 00:19:07.460 to help these appraisers come up with the best 00:19:07.460 --> 00:19:11.339 process, right? And the most consistent process. 00:19:11.599 --> 00:19:14.180 Yeah. And, you know, another example of that 00:19:14.180 --> 00:19:18.000 that we did early in the year was As Ace Plus 00:19:18.000 --> 00:19:22.180 PDRs and as alternative products start to take 00:19:22.180 --> 00:19:26.140 more hold within the lending community, we really 00:19:26.140 --> 00:19:29.940 made a commitment to bringing in -house process, 00:19:30.220 --> 00:19:33.859 technology, talent. We brought in -house Mike 00:19:33.859 --> 00:19:36.819 Kirk, who I know you all have had on the podcast, 00:19:36.960 --> 00:19:39.880 who is an industry veteran, has been around for 00:19:39.880 --> 00:19:43.480 decades, much like myself, and really knows the 00:19:43.480 --> 00:19:45.720 space and was one of the first developers of 00:19:45.720 --> 00:19:49.000 forms like this going back over a decade, creating 00:19:49.000 --> 00:19:51.900 those proprietary forms that are better than 00:19:51.900 --> 00:19:54.059 what's out there. And it really addresses the 00:19:54.059 --> 00:19:56.900 client needs because Mike was a client. He was 00:19:56.900 --> 00:19:59.099 a chief appraiser for a bank. He was the end 00:19:59.099 --> 00:20:01.119 user and said, this is what I want. Here's my 00:20:01.119 --> 00:20:03.980 specs. Here's what I'm looking for. So we really 00:20:03.980 --> 00:20:06.599 went through and said, okay, let's find out what 00:20:06.599 --> 00:20:08.839 the client actually wants and build a product 00:20:08.839 --> 00:20:12.220 that meets that expectations as opposed to a 00:20:12.220 --> 00:20:14.680 form is a form. Let's give it to them. Let's 00:20:14.680 --> 00:20:17.190 hope it works. we're working on getting more 00:20:17.190 --> 00:20:19.950 people to see what those opportunities look like. 00:20:20.009 --> 00:20:22.190 But I think those clients who've been working 00:20:22.190 --> 00:20:26.630 with us on this stuff are finding that. On the 00:20:26.630 --> 00:20:29.589 underwriting side, as well as from an investment 00:20:29.589 --> 00:20:33.069 perspective, having those products as part of 00:20:33.069 --> 00:20:36.269 their package when they're sending out those 00:20:36.269 --> 00:20:39.250 loan pools, that really makes a big difference. 00:20:39.410 --> 00:20:42.849 It really helps for investors to take a look 00:20:42.849 --> 00:20:44.990 and understand what they're getting. And I think 00:20:44.990 --> 00:20:47.009 that that's been really useful and meaningful 00:20:47.009 --> 00:20:49.589 for folks. And that's what we're most proud of 00:20:49.589 --> 00:20:52.490 is helping our clients be better at what they 00:20:52.490 --> 00:20:55.450 do and having products that separate them from 00:20:55.630 --> 00:20:57.970 everybody else that's out there. Awesome. Awesome. 00:20:58.390 --> 00:21:00.569 Building towards the future, baby. Peer it into 00:21:00.569 --> 00:21:02.230 the eye, you know, looking ahead in that crystal 00:21:02.230 --> 00:21:05.450 ball 2024. What are you most looking forward 00:21:05.450 --> 00:21:08.630 to us as a company? You know, maybe not necessarily. 00:21:09.099 --> 00:21:11.400 get as far out as market, but Nationwide as a 00:21:11.400 --> 00:21:12.900 company, what are you most looking forward to 00:21:12.900 --> 00:21:15.000 here in this coming year? Well, yep, Mike, really 00:21:15.000 --> 00:21:17.019 good question. And, you know, I think from my 00:21:17.019 --> 00:21:19.859 perspective, we kind of start with whenever we 00:21:19.859 --> 00:21:22.319 think about what do we want to do with Nationwide, 00:21:22.359 --> 00:21:24.660 as you all know, we have a strategic planning 00:21:24.660 --> 00:21:27.619 process. We have an annual planning process and 00:21:27.619 --> 00:21:30.079 we do that every year. And we bring the best 00:21:30.079 --> 00:21:31.980 and the brightest in our organization together 00:21:31.980 --> 00:21:34.180 to sit down and talk about that. That's where 00:21:34.180 --> 00:21:36.660 we start with all of this. And every time we 00:21:36.660 --> 00:21:38.990 start with that, our first thing. Before we think 00:21:38.990 --> 00:21:41.130 about what are we going to do, we always try 00:21:41.130 --> 00:21:43.730 to spend time understanding what is the client 00:21:43.730 --> 00:21:45.509 going to do? What are our clients, what are our 00:21:45.509 --> 00:21:47.769 client partners going to go through and do? What's 00:21:47.769 --> 00:21:49.890 their process? And one of the big things I think 00:21:49.890 --> 00:21:52.869 we were really talking about is that the clients 00:21:52.869 --> 00:21:55.650 are consolidating. There's a huge trend out there 00:21:55.650 --> 00:21:57.730 towards client consolidation. That's already 00:21:57.730 --> 00:21:59.410 happened that I think is going to continue to 00:21:59.410 --> 00:22:01.549 happen. And as we were talking about earlier 00:22:01.549 --> 00:22:05.230 in the show, those... teams and those groups 00:22:05.230 --> 00:22:08.569 who have invested themselves and have strengthened 00:22:08.569 --> 00:22:12.829 themselves will absolutely grow tremendously 00:22:12.829 --> 00:22:16.029 as the market starts to come back because they 00:22:16.029 --> 00:22:18.289 made the investment, they made the sacrifice, 00:22:18.309 --> 00:22:20.650 and that will absolutely pay dividends. I'm a 00:22:20.650 --> 00:22:22.730 big believer in that. And so we're really proud 00:22:22.730 --> 00:22:24.890 of those relationships. But what's also happening 00:22:24.890 --> 00:22:27.309 with clients as this consolidation is happening, 00:22:27.410 --> 00:22:32.930 the relationships between the AMCs and the client. 00:22:33.200 --> 00:22:35.019 are also changing. Where those relationships 00:22:35.019 --> 00:22:38.059 are occurring are changing. Sometimes, you know, 00:22:38.059 --> 00:22:42.319 earlier on in the industry, much of that was 00:22:42.319 --> 00:22:44.559 occurring somewhat at the local level, branch 00:22:44.559 --> 00:22:48.099 level, things of that nature. Now, more and more 00:22:48.099 --> 00:22:50.279 of those relationships are happening at a corporate 00:22:50.279 --> 00:22:52.940 level, especially because one, they have to because 00:22:52.940 --> 00:22:55.640 the companies are getting bigger and there's 00:22:55.640 --> 00:22:59.349 other things going on. As that's occurring, what 00:22:59.349 --> 00:23:01.609 we're also seeing is that the client demands 00:23:01.609 --> 00:23:04.730 are changing. In particular, what they're looking 00:23:04.730 --> 00:23:09.490 at is the compliance laws are really, you know, 00:23:09.509 --> 00:23:12.289 they only go up. Right. Yeah. In our industry, 00:23:12.509 --> 00:23:15.069 you know, whether it's mortgage, mortgage regulation, 00:23:15.309 --> 00:23:18.269 appraisal regulation, you know, whatever you 00:23:18.269 --> 00:23:21.309 want to talk about service regulation, the laws 00:23:21.309 --> 00:23:24.029 never go away or they never get smaller. They 00:23:24.029 --> 00:23:27.230 only add to them. They only add the burdens and 00:23:27.230 --> 00:23:29.789 the requirements on there. Right. So you just 00:23:29.789 --> 00:23:31.309 go through it's like, OK, well, you did these 00:23:31.309 --> 00:23:34.390 25 things. Now let's add, you know, another 15. 00:23:34.569 --> 00:23:37.230 And it's just every year they keep piling and 00:23:37.230 --> 00:23:39.849 piling and piling and piling. And then, you know, 00:23:39.849 --> 00:23:42.519 that's. we're at. And we're certainly in that 00:23:42.519 --> 00:23:45.099 type of environment right now. And last year 00:23:45.099 --> 00:23:47.079 was a great indicator of what we're seeing on 00:23:47.079 --> 00:23:51.519 there. We're seeing agencies like CFPB and others 00:23:51.519 --> 00:23:54.539 have focus on not only the mortgage industry, 00:23:54.779 --> 00:23:58.160 but also the appraisal industry. So we're seeing 00:23:58.160 --> 00:24:00.500 them go through and show up in different ways. 00:24:00.940 --> 00:24:03.599 In some instances, I think this is actually a 00:24:03.599 --> 00:24:07.059 good thing because it weeds out and gets rid 00:24:07.059 --> 00:24:10.720 of players who really are are probably not helping 00:24:10.720 --> 00:24:14.819 their clients and are, are not doing, uh, things 00:24:14.819 --> 00:24:18.419 in a proper way and, or maybe, you know, shortchanging 00:24:18.419 --> 00:24:21.339 them instead of going through and saying, hey, 00:24:21.400 --> 00:24:23.839 we have to do the tough thing that will get you 00:24:23.839 --> 00:24:25.880 where you need to go in the long run. And let's 00:24:25.880 --> 00:24:28.200 solve for all of that. So I think that was a 00:24:28.200 --> 00:24:30.119 big trend. Another big trend that I think that 00:24:30.119 --> 00:24:31.980 was kind of interesting. I mean, there's a lot 00:24:31.980 --> 00:24:34.059 of these companies or what I like to call tech 00:24:34.059 --> 00:24:38.240 bros that were out there that kept talking like 00:24:38.240 --> 00:24:41.720 a big game for years. And, you know, hey, we're 00:24:41.720 --> 00:24:44.420 going to revolutionize the mortgage service industry. 00:24:44.539 --> 00:24:47.160 We're going to revolutionize the AMC space. And 00:24:47.160 --> 00:24:50.000 we're going to change everything about appraisals 00:24:50.000 --> 00:24:52.359 and go through and do all of that. And I think 00:24:52.359 --> 00:24:56.619 we saw that leading up to COVID and even in the 00:24:56.619 --> 00:25:00.359 middle of COVID, you just had to slap a fancy 00:25:00.359 --> 00:25:03.619 logo and a fancy name and people threw money 00:25:03.619 --> 00:25:07.559 at you as a tech company. And we've seen it where 00:25:07.559 --> 00:25:09.940 a couple of years later, a lot of those people 00:25:09.940 --> 00:25:12.500 are gone and a new set of groups are coming up 00:25:12.500 --> 00:25:14.839 and people are trying to figure out what do they 00:25:14.839 --> 00:25:18.839 do? And clients are starting to figure out, well, 00:25:18.940 --> 00:25:21.240 wait a second, their promises are one thing. 00:25:21.259 --> 00:25:24.079 and their deliverables are two completely different 00:25:24.079 --> 00:25:27.980 things. And what's interesting is they did do 00:25:27.980 --> 00:25:30.079 a lot of good things because they pushed a lot 00:25:30.079 --> 00:25:32.140 of folks who've been in the industry like ourselves 00:25:32.140 --> 00:25:35.299 that have been around for a long time to innovate. 00:25:35.500 --> 00:25:38.059 We as an industry, honestly, we need to innovate. 00:25:38.160 --> 00:25:40.480 I think that that's a huge thing. Another big 00:25:40.480 --> 00:25:43.819 trend for us this last year going into this year 00:25:43.819 --> 00:25:46.619 and more, I think in 24, is there's going to 00:25:46.619 --> 00:25:50.759 continue to be fewer and larger AMCs. of it is, 00:25:50.819 --> 00:25:53.660 as I said, just because scale does matter as 00:25:53.660 --> 00:25:55.500 your clients get bigger, they just don't have 00:25:55.500 --> 00:25:59.059 time or need or desire to be dealing with 20 00:25:59.059 --> 00:26:01.099 AMCs. That's just not going to be what they want 00:26:01.099 --> 00:26:03.779 to do. And so it's hard to go through and say, 00:26:03.859 --> 00:26:05.759 hey, I'm going to maintain a nice little regional 00:26:05.759 --> 00:26:10.059 firm or shop and do that for my few select clients. 00:26:10.220 --> 00:26:13.740 You can do that for so long until that's just 00:26:13.740 --> 00:26:17.559 not sustainable anymore. So that's another huge 00:26:17.559 --> 00:26:20.430 trend that I think is going to continue. in 24. 00:26:21.390 --> 00:26:25.170 So, you know, for me, the bottom line in 24 is, 00:26:25.430 --> 00:26:28.250 you know, innovate and grow or die. I think it's 00:26:28.250 --> 00:26:30.869 as simple as that. If we don't do that, which 00:26:30.869 --> 00:26:33.069 I know we are, and I'm very proud of what we're 00:26:33.069 --> 00:26:36.589 doing there, we won't be where we want to be 00:26:36.589 --> 00:26:39.390 and where our clients want us to be, where our 00:26:39.390 --> 00:26:43.089 appraiser, you know, vendor team wants us to 00:26:43.089 --> 00:26:46.089 be and needs us to be to sort of keep them doing 00:26:46.089 --> 00:26:48.410 the things in the most optimum way that they 00:26:48.410 --> 00:26:50.650 can. We spend as much time thinking about what 00:26:50.650 --> 00:26:53.089 the client needs as we do about what the appraiser 00:26:53.089 --> 00:26:56.210 needs and how can they best be serviced through 00:26:56.210 --> 00:26:58.589 this platform and what we try to put forward. 00:26:58.849 --> 00:27:01.869 So I think we're going to be seeing, I think 00:27:01.869 --> 00:27:05.089 clients are going to be seeing more product offerings 00:27:05.089 --> 00:27:07.630 from us this year. They're going to be seeing 00:27:07.630 --> 00:27:10.390 changes in our technology and our delivery from 00:27:10.390 --> 00:27:12.829 us this year. They're going to be seeing more 00:27:12.829 --> 00:27:16.690 operational innovation from us this year that 00:27:16.690 --> 00:27:18.920 will allow us to deliver. things on a quicker 00:27:18.920 --> 00:27:21.680 basis. And so those things are going to be what 00:27:21.680 --> 00:27:23.960 we're going to be looking for as we continue 00:27:23.960 --> 00:27:29.059 to go through and grow and be further out there. 00:27:29.240 --> 00:27:33.539 We're going to continue to look for merger and 00:27:33.539 --> 00:27:35.339 acquisition opportunities. We're going to continue 00:27:35.339 --> 00:27:37.839 to look to grow with partners. One of the things 00:27:37.839 --> 00:27:40.240 we've been very fortunate and we've been very 00:27:40.240 --> 00:27:45.619 deliberate about is not about growth or partnering 00:27:45.619 --> 00:27:48.859 or acquiring AMCs just to acquire them, we are 00:27:48.859 --> 00:27:51.339 very, very keen on finding the right partners 00:27:51.339 --> 00:27:54.160 because we want to bring people into our team 00:27:54.160 --> 00:27:56.579 and our culture and our overall ecosystem. And 00:27:56.579 --> 00:27:58.500 we want to make sure the clients are happy, the 00:27:58.500 --> 00:28:01.200 team is happy, and that we can grow together. 00:28:01.359 --> 00:28:04.559 And what we say, we believe in, and we will tell 00:28:04.559 --> 00:28:07.059 you, we stick to our words and we're big, big 00:28:07.059 --> 00:28:09.859 believers in that. And that comes directly from 00:28:09.859 --> 00:28:13.599 me and everybody on our team believes in keeping 00:28:13.599 --> 00:28:16.759 our word. Yeah. I'll say the acquisitions over 00:28:16.759 --> 00:28:19.220 the last couple of years, you and the rest of 00:28:19.220 --> 00:28:21.259 the executive team have done a fantastic job 00:28:21.259 --> 00:28:24.220 of picking the companies with the right culture 00:28:24.220 --> 00:28:27.039 that match well. It's not easy. You know, when 00:28:27.039 --> 00:28:31.140 you get to a size like us and like competitors 00:28:31.140 --> 00:28:34.319 elsewhere, they're trying to do similar things. 00:28:34.519 --> 00:28:36.220 So, you know, hats off to you guys for that. 00:28:36.339 --> 00:28:38.319 I know it's not an easy job and the integration 00:28:38.319 --> 00:28:40.299 piece is not an easy job. And it's exciting, 00:28:40.400 --> 00:28:42.440 I think, from a sales side that. you know we 00:28:42.440 --> 00:28:45.599 want to continue down that path and uh continue 00:28:45.599 --> 00:28:48.059 to grow it was mike moore and alluded to earlier 00:28:48.059 --> 00:28:51.380 like we're all in uh from a sales team like that's 00:28:51.380 --> 00:28:53.920 that's where we're going in 24 and that's with 00:28:53.920 --> 00:28:55.759 you know through acquisitions and innovation 00:28:55.759 --> 00:28:59.099 um and everything you've mentioned uh it's an 00:28:59.099 --> 00:29:02.000 exciting place to be at nationwide you know as 00:29:02.000 --> 00:29:03.859 we as we look forward whatever the market does 00:29:03.859 --> 00:29:06.400 is going to do and we're going to do whatever 00:29:06.400 --> 00:29:10.519 we can to give our our lender partners uh a better 00:29:10.519 --> 00:29:13.660 value add, if you will, you know, in what they're 00:29:13.660 --> 00:29:18.700 doing. Yeah. Our job is to be a value to our 00:29:18.700 --> 00:29:21.140 partners. That's it. That's what we want to do. 00:29:21.200 --> 00:29:24.259 We want to go through and create value for them. 00:29:24.539 --> 00:29:27.519 In whatever way we can, in their underwriting 00:29:27.519 --> 00:29:30.680 process, in their origination process, in whatever 00:29:30.680 --> 00:29:33.299 it is that we need to do, that's where we're 00:29:33.299 --> 00:29:36.059 going to go through and try to support all of 00:29:36.059 --> 00:29:39.980 our partners in that way. We want appraisers 00:29:39.980 --> 00:29:43.240 who want to work with us because we're efficient. 00:29:43.460 --> 00:29:45.740 Those are all things that we continue to strive 00:29:45.740 --> 00:29:48.440 for. And we don't have all the right answers, 00:29:48.539 --> 00:29:51.119 but I'll guarantee you we'll listen and we will 00:29:51.119 --> 00:29:53.240 keep chipping away at everything every year, 00:29:53.240 --> 00:29:55.460 day in and day out. I think that's the difference 00:29:55.460 --> 00:29:59.519 with what we're doing is that we're asking and 00:29:59.519 --> 00:30:03.200 proactively asking and listening to what they 00:30:03.200 --> 00:30:06.579 need. And like you said already, it's both sides 00:30:06.579 --> 00:30:08.640 of the coin. It's the appraiser and the lender, 00:30:08.740 --> 00:30:12.240 right? And we're trying to bring together one 00:30:12.240 --> 00:30:15.180 solution that works for both sides. You know, 00:30:15.180 --> 00:30:17.019 just going back to the STR form, that's one thing 00:30:17.019 --> 00:30:18.759 we had to do that was talk to both sides and 00:30:18.759 --> 00:30:21.319 figure out what made the most sense. to give 00:30:21.319 --> 00:30:23.660 everybody more or less what they needed. But 00:30:23.660 --> 00:30:27.099 listening and hearing what they need is going 00:30:27.099 --> 00:30:29.819 to be how we're going to remain successful, I 00:30:29.819 --> 00:30:32.759 think. Absolutely. That's awesome. Are you ready 00:30:32.759 --> 00:30:35.299 for Rapid Rush Request? Yeah, let's do it. Is 00:30:35.299 --> 00:30:37.359 it that time? It's about that time of the hour. 00:30:37.599 --> 00:30:40.980 Is it that time? I think that took it easy on 00:30:40.980 --> 00:30:43.220 you here. All right, so Rapid Rush Request, thank 00:30:43.220 --> 00:30:45.319 you very much, sir. Short answers, as short as 00:30:45.319 --> 00:30:47.940 possible. Okay. But obviously, if you feel like 00:30:47.940 --> 00:30:49.619 you need to elaborate, we're never going to stop 00:30:49.619 --> 00:30:51.779 you because, you know. No worries. Sometimes 00:30:51.779 --> 00:30:53.559 things get in the way of scheduling appraisals, 00:30:53.559 --> 00:30:54.960 so sometimes things get in the way of a quick 00:30:54.960 --> 00:30:57.099 answer. Starting off here, Apple or Android? 00:30:57.900 --> 00:31:01.759 Apple. 100%. No, nothing further needed. See 00:31:01.759 --> 00:31:06.259 you, Charlie. This year's Super Bowl, who's winning? 00:31:06.500 --> 00:31:09.519 I'm going to have to go with the Ravens. Figured. 00:31:09.900 --> 00:31:13.839 Figured. Figured. So, two -part question. Favorite 00:31:13.839 --> 00:31:17.740 golf course you've ever played and your dream 00:31:17.740 --> 00:31:20.740 golf course to play that you have not yet. Had 00:31:20.740 --> 00:31:23.279 the pleasure of attending. Wow. Really, really 00:31:23.279 --> 00:31:25.259 great question. Well, I'll answer the second 00:31:25.259 --> 00:31:28.700 part first. Would want to play Augusta. Have 00:31:28.700 --> 00:31:32.079 never played Augusta. Favorite golf course that 00:31:32.079 --> 00:31:36.839 I played would probably have to be, oh, would 00:31:36.839 --> 00:31:39.900 have to be Black Wolf Run in Kohler, Wisconsin. 00:31:40.650 --> 00:31:44.150 It's a bit of an older cloak course, but it was 00:31:44.150 --> 00:31:47.930 right next to where they had one of the Ryder 00:31:47.930 --> 00:31:51.170 Cups, the U .S. Opens, a while ago. And it's 00:31:51.170 --> 00:31:54.910 a Pete Dye design, just beautiful. What was the 00:31:54.910 --> 00:31:57.109 hardest course you took at MIT? Well, the hardest 00:31:57.109 --> 00:32:01.390 course I took at MIT was urban economics taught 00:32:01.390 --> 00:32:06.670 by the great Bill Wheaton. So Bill Wheaton was 00:32:06.670 --> 00:32:11.740 of Toro Wheaton fame. He's a real estate economist, 00:32:12.059 --> 00:32:15.859 much like Case Schiller. Those were two professors 00:32:15.859 --> 00:32:19.660 from Penn or from Wharton, I should say. And 00:32:19.660 --> 00:32:23.720 so Bill Wheaton and Ray Toro were two very famous 00:32:23.720 --> 00:32:27.740 economists. And they taught me something about 00:32:27.740 --> 00:32:31.839 real estate that I didn't even know was real. 00:32:32.039 --> 00:32:34.380 And that was a lot of fun. It was hard. It was 00:32:34.380 --> 00:32:37.880 a lot of math. It was a lot of learning things 00:32:37.880 --> 00:32:41.220 that. I just had never tried, never even knew 00:32:41.220 --> 00:32:44.740 about. That's sweet. That's cool. That's awesome. 00:32:44.880 --> 00:32:46.880 Speaking of MIT, though, can you count cards? 00:32:47.039 --> 00:32:51.380 I can count cards up to a point. And that point 00:32:51.380 --> 00:32:54.099 is after my second drink. I can't do it. All 00:32:54.099 --> 00:32:55.880 right. A couple more here. Just a couple more. 00:32:56.119 --> 00:32:58.859 Yeah. Your dream foursome on the golf course. 00:32:59.059 --> 00:33:02.519 My dream foursome on the golf course. Tiger, 00:33:02.779 --> 00:33:07.980 my brother, and my oldest son. Yeah. Is your 00:33:07.980 --> 00:33:12.240 brother as good as you? My brother is a one handicap. 00:33:12.859 --> 00:33:18.619 Oh, gosh. So he's really good. Sure. You're like, 00:33:18.720 --> 00:33:21.299 oh, this is demoralizing for me. Yeah, exactly. 00:33:21.640 --> 00:33:24.319 I'm like, I need 260 just to get to the fairway. 00:33:25.660 --> 00:33:29.259 Let's do here. Who is the one member of the sales 00:33:29.259 --> 00:33:31.119 staff, if you have to really narrow it down? 00:33:31.220 --> 00:33:34.319 One member of the sales staff who has caused 00:33:34.319 --> 00:33:37.450 you the most gray slash lost hairs? over the 00:33:37.450 --> 00:33:39.529 past couple of years you've been here. Oh, man. 00:33:40.210 --> 00:33:43.950 This is the tea right here. You had to know I 00:33:43.950 --> 00:33:47.130 was going here. Yeah. Well, I'll go with your 00:33:47.130 --> 00:33:51.410 boss, Mike Moore. Yes. Let's throw him under 00:33:51.410 --> 00:33:54.589 the bus. I like the cut. I'm good. I like that. 00:33:54.630 --> 00:33:57.369 I like that a lot. We don't need to go into why, 00:33:57.509 --> 00:34:00.430 but Michael, you know. No, no. We all know. You 00:34:00.430 --> 00:34:03.009 know, Michael. You know. All right. And we're 00:34:03.009 --> 00:34:05.230 going to close out with this. Why Nationwide 00:34:05.230 --> 00:34:08.489 in 2024 and moving forward? Why Nationwide? Elevator 00:34:08.489 --> 00:34:12.789 pitch. Why Nationwide? Because I think we focus 00:34:12.789 --> 00:34:16.750 on doing the right things for our clients. You 00:34:16.750 --> 00:34:20.210 can't always just say, hey, we'll do whatever 00:34:20.210 --> 00:34:24.530 you want. And man, is that a hard thing to be 00:34:24.530 --> 00:34:27.369 able to explain? You know, when a client says, 00:34:27.510 --> 00:34:29.909 just do it this way and call it a day and move 00:34:29.909 --> 00:34:32.909 on. and to try to explain, hey, here's a better 00:34:32.909 --> 00:34:35.309 solution for you, and to try to have a little 00:34:35.309 --> 00:34:37.829 bit of a longer conversation takes a lot of effort. 00:34:37.969 --> 00:34:41.429 And eventually, I find, though, and I think our 00:34:41.429 --> 00:34:45.869 team does a great job of getting there, we push 00:34:45.869 --> 00:34:48.949 to do the right thing for the client. So that's 00:34:48.949 --> 00:34:51.210 the single biggest thing. The second thing is 00:34:51.210 --> 00:34:53.469 innovation. If you're not partnering with folks 00:34:53.469 --> 00:34:55.710 who are going to take care of you and who aren't 00:34:55.710 --> 00:34:59.960 going to move with you forward, They shouldn't 00:34:59.960 --> 00:35:03.019 be your partners. So that's why Nationwide, because 00:35:03.019 --> 00:35:06.199 our goal isn't to be the best provider for you 00:35:06.199 --> 00:35:10.039 today, but to grow with you and be the best provider 00:35:10.039 --> 00:35:12.420 that's going to move you into a place you don't 00:35:12.420 --> 00:35:14.699 even know exists or you don't even know you needed. 00:35:15.380 --> 00:35:18.500 So that's our job is to is to make you better, 00:35:18.639 --> 00:35:21.360 even though you don't even realize what you need. 00:35:21.460 --> 00:35:24.579 Awesome. I'm in there. I'm sold. Very well said. 00:35:25.119 --> 00:35:29.219 Very well said. Yeah. Yeah. Is that your last 00:35:29.219 --> 00:35:32.460 one? Yeah, that was it. That was it. That's it. 00:35:32.559 --> 00:35:34.400 You have survived the rapid rush request. We 00:35:34.400 --> 00:35:37.380 got the report on time. Awesome. Awesome. Hey, 00:35:37.539 --> 00:35:40.980 well, I appreciate you guys having me on the 00:35:40.980 --> 00:35:44.699 podcast. This is fun. This is pretty cool. I 00:35:44.699 --> 00:35:47.239 definitely want to do it again. Hopefully it 00:35:47.239 --> 00:35:51.920 won't take another year. Maybe you guys can find 00:35:51.920 --> 00:35:54.860 some time in your busy schedules. to squeeze 00:35:54.860 --> 00:35:57.860 me in. We'll have death schedules preformed. 00:35:58.139 --> 00:36:00.199 Keep hearing it. You know what? I'll, I'll, I'll 00:36:00.199 --> 00:36:03.440 find, I'll find Jordan or I'll find Mike and 00:36:03.440 --> 00:36:07.460 I'll, I'll, I'll Mike more and I'll see if I 00:36:07.460 --> 00:36:11.000 can't twist their arm. There you go. Have your, 00:36:11.019 --> 00:36:13.280 have your people call our people. We'll get it 00:36:13.280 --> 00:36:17.920 worked out. Oh, really, really appreciate you 00:36:17.920 --> 00:36:21.880 taking the time with us today. I think a lot 00:36:21.880 --> 00:36:25.820 of great info. just about for all the listeners, 00:36:25.920 --> 00:36:28.739 right? Where we've been, where we're going, and 00:36:28.739 --> 00:36:31.719 what we hope to be able to provide to anyone 00:36:31.719 --> 00:36:33.920 we're not working with already. So with that, 00:36:33.940 --> 00:36:39.059 that's a wrap for episode numero uno for 2024. 00:36:39.880 --> 00:36:43.539 Schwartz, we've made it a long way. I'm really 00:36:43.539 --> 00:36:46.260 proud of ourselves. Yeah, is this the third calendar 00:36:46.260 --> 00:36:48.420 year we've been doing this? Because didn't this 00:36:48.420 --> 00:36:51.739 start in 2022? I guess, technically. Didn't it? 00:36:51.900 --> 00:36:57.400 Yeah, technically. And we haven't been shut down 00:36:57.400 --> 00:37:00.199 yet. I don't even know how that's possible. Sri's 00:37:00.199 --> 00:37:02.079 made it. Now that he's on it, I think, well, 00:37:02.139 --> 00:37:04.639 we'll see where this goes from now. Shut us down 00:37:04.639 --> 00:37:07.320 now that you're part of the problem. Yeah, as 00:37:07.320 --> 00:37:09.860 long as I go viral, we're good. In a good way. 00:37:10.059 --> 00:37:12.780 So for all you faithful out there, ValuNation 00:37:12.780 --> 00:37:15.500 Podcast, we appreciate you listening. Make sure 00:37:15.500 --> 00:37:17.840 you like, subscribe, hit the little icon bell 00:37:17.840 --> 00:37:20.440 for all the... Updated notifications and new 00:37:20.440 --> 00:37:24.280 episode drops. Find us on Instagram, Facebook. 00:37:25.280 --> 00:37:27.920 We are on the TikTok. Well, Jordan is because 00:37:27.920 --> 00:37:31.219 we're too old for that. We've got Spotify, Apple 00:37:31.219 --> 00:37:33.960 iTunes, and everywhere else that you get all 00:37:33.960 --> 00:37:36.500 of your podcast needs. Don't forget the YouTube. 00:37:37.460 --> 00:37:40.119 Oh, yeah, and YouTube to see Schwartz's outfit 00:37:40.119 --> 00:37:43.119 of the day. That's true. Don't forget that one. 00:37:43.500 --> 00:37:44.340 You might see.