Be The Bank

001 - Marry the Investment and Date the Servicer

January 11, 2023 Justin Bogard Season 5 Episode 1
Be The Bank
001 - Marry the Investment and Date the Servicer
Show Notes Transcript

Be The Bank S5 Ep1 - Marry the Investment and Date the Servicer

On episode 1 of season 5, Justin Bogard talks with Lauren Glory of BIFI Loan Servicing!

Key Takeaways:

  1. How does a loan servicer benefit you?
  2. Cost of doing business
  3. Processes are crucial!

Resources and links discussed

About the Host

Justin Bogard – Note Investor specializing in performing Residential Real Estate Debt. He finds deals and acquires them for his own portfolio as well as educates investors while walking them through the process of owning a Real Estate Note!

Connect with the Host:

Narrarator:

Interested in real estate. How about wealth? Well, they go hand in hand. And here you'll learn all about it, about it. Welcome to Be The Bank, a podcast where we discuss and debate the topics centered around real estate investing. Your host, Justin Bogart, shares insights into investing in real estate to create real wealth and passive income for you and your family. He'll share stories of real estate investments done right, walk you through the process of owning a real estate note, and most importantly, educate you so you can be the bank, your bank. This is be the bank brought to you by Bright Path Notes. Now here's your host, Justin.

Justin Bogard:

Hello again. It's season number five, a brand new season, and this is episode number one. And hope you had a very merry Christmas and a happy New Year. I know that we did, and we have lots of new, exciting things that are going on in our business, but that's not what we're gonna talk about today. I have a guest on, uh, Ms. Lauren Glory, who's gonna be talking to us, and she is part of a servicing company, and we'll get to know a little bit more about her and kind of the dynamics of investors in servicing, uh, loan servicing companies. So stay tuned. Well, hi Lauren.

Lauren Glory:

Hi Justin. How are

Justin Bogard:

You? I'm doing fantastic. How are you?

Lauren Glory:

I'm well, thanks and thanks for having me today.

Justin Bogard:

You're very welcome. So we've, we've been doing business together for a little bit and, um, I've mentioned that you are a part of a, a servicing company, and I believe you are the, the director of the executive director of the, of Loan servicing company called bfi.

Lauren Glory:

That's correct. Yep. Executive director. I'll take the tag where I can get it.<laugh>.

Justin Bogard:

That's right. I like that title. I too, I hear Tim many executive directors. I like that. My title's only, it's on the day co-founder and director, so I, yes. I don't get the executive in there,

Lauren Glory:

<laugh>. Yeah, that's right. I'll take the tag when I can get it. Sometimes it's a good thing. Sometimes I wanna hide from it. I don't. Depends on the day. Right.

Justin Bogard:

I, I get it. Hey, Lauren, I, I wanna give our listener and our viewer kind of a frame of reference of kind of who you are and how you got to being a loan business, uh, loan servicing business. And I just kind of wanted to give you the floor for a second just to kind of explain how you got here.

Lauren Glory:

Sure. Okay. So I have a very long career in finance. I've actually been working in finance for, this is 27 years, so 26 prior to coming on board here at BFI Loan Servicing. Um, no stranger to it. I'm degreed in accounting. I've also got some other academic credentials up my sleeve, so I've degreed in other areas as well. But, uh, again, a 26 year run as, uh, an interim c e o and c f O Treasurer intermittently, they're interchangeably, I should say. I did that for manufacturing, um, prior to coming here. So I've actually seen the internal workings of investing on the corporate side. Okay. And then came with my financial background to BFI after having gone through a merger and acquisition process where I had some investment offers myself. So, okay. Another area of exploration for me. It's a little better suited for me. I got drawn into manufacturing and engineering prior to that. But, um, I'm a math girl, so I'm a money person. And, and here I am. I'm really, really enjoying this. It's, uh, very easy. I can see where you would guide your audience to working on investing in notes, because honestly, when you lift the veil, it's not complicated and it's doable and, uh, people are doing it. They're really bringing it home and creating the wealth that it, it is purported to be. I've seen it. I respect it, and I'm very, very privileged to feel that I'm a part of that for people that are making passive income.

Justin Bogard:

That's awesome. And I couldn't imagine a more perfect person to be in a role than someone with a extremely strong financial and math background to be a loan servicer, because you're dealing with numbers all day, right? You're dealing with transactions, you know, you got debits and credits and things going back and forth. I can't imagine how many transactions go through your bank account a day,

Lauren Glory:

<laugh>. Quite a few. Quite a few. And on the ledgers that we're looking at for a servicing. So yeah, there are definitely a few. I think it's an interesting field in this state. This, um, economic climate of scaling by automation, because this is a very touch heavy industry. You need an eye and a person's eye. I think BFI is particularly good at that, which is, uh, the company that I'm representing because, um, we do sit and look at the accounts. I do that often. Personally, I think with delinquencies and the notes that you get the best buys on this is definitely the way to go, is to have someone that is personally looking through the ledgers all the time. There are a lot of unique circumstances that we come across. Makes it interesting. Makes it challenging too.

Justin Bogard:

It's, and I'm glad you brought that up because one of the questions I get asked to people that are in their infancy stage of learning how to be a note investor and they try to outsmart what's going on with using their knowledge and bringing it into our field. And one of the things that I often get asked is, why do I need a loan servicer? Why do I have to pay them a fee? And when I try to explain to them what they do, it's hard for them to, to figure out what I'm talking about because they have an experience going through the process of owning a real estate note and, you know, collecting the money from it and reporting it to the government and Oh, yeah. You, you do have to have those social security number. Oh yeah. You do need to report this to the irs. Like there is mm-hmm.<affirmative> specific compliant ways to do this stuff. And for us as investors here on this side of the table, if you will, it's a lot of extra work and extra knowledge that you don't really need to know when you can just hire somebody to do it, you

Lauren Glory:

Know? Yes. True story. For starters, BFI actually is an acronym for standing for buy investors for investors. Mm-hmm.<affirmative>. So we are formed by people that are in the note space that have been here for a long time and have experienced all of those pains and issues that you've talked about. And not only do they utilize and leverage servicers, but started a servicing company specifically for those reasons. So yeah, we do run into it. I think that people that are new to the space, we also, um, ran an ebook recently that's up on our website on bfi.com. Okay. Go to the website and scroll to the bottom. And people who are in the space already a comically agree that it's interesting that we have four reasons not to self-service your note. Yeah.<laugh>, those of us that have been around for probably this 150 reasons not to self-service your note. Yeah. Some of which you already hit on. So, um, when you go to change and you know, a lot of the profitability is in moving your notes, right? So you want the passive income, but when you come to a servicer, one of the things that we can do for you besides compliance and, um, dealing with getting your passive income in your collections with your borrowers, managing all of that lender disbursements is we are expert in turning loans when possible from non-performing, which you can buy at a discount to performing loans with some of our connections and experience with delinquency loan modifications and the compassion that we really bring to the industry, wanting to keep people in their house, uh, work with them on modifications and direct them to, um, individuals such as state programs that can help bring them current. And, um, then you might want to sell it, uh, at a best price after it has been converted to a performing note. So lots to be done there. Uh, using servicers. It also makes it a lot faster and a lot more painless when you want to transfer your servicing if it's coming from one professional servicer to another and not from outer space. Yeah. Uh, in that arena.

Justin Bogard:

Now, let's be honest, the the amount of money that you spend monthly on paying a service through to service your loan, and, and for full disclosure, there is a small fee that you pay monthly per loan that you have to mm-hmm.<affirmative> the amount of work that you do versus the amount of money that you have to pay to have the loan service is, is a drop in the bucket is what Richard and I would always say. And it's just, it just seems silly to try to do it on your own when it's just so inexpensive to do it monthly for someone else to manage it. I mean, for a hundred bucks a year, and that's a, that's a, let's just say for$200 a year, uh, on a loan that you have, whether it's a thousand dollars payment a month or$200 payment a month, don't you think it's worth it to have somebody else just deal with all that stuff? Oh, and by the way, they're licensed, they're compliant in that state and they're bonded in insured.

Lauren Glory:

This is correct. In fact, just this morning, uh, we are in renewal season for licensing mm-hmm.<affirmative>. So we're vigilant about that. I have a in very personal hand in making sure we do that. We, we grow with our states criminal background checks, credit reports. We can't even go near anybody's information without being regulatory, um, cleared and renewed and compliant at all times. So that's very, very important. And we are cognizant of the spread that you need to cover. So I, I think about that all the time. Yeah. When I'm thinking about pricing and what you need to do, the amount of time for the, the low price that we particularly charge of servicing, because we are aware, uh, acutely aware that there, there's a spread that you need to cover is important. People that have a lot of knowledge and are going into buying their notes with direction from pros such as yourself, might write their note where they're getting their servicing covered. Um, so if you have pass through fees, any bit of knowledge you have from mentors like yourself, it narrows the gap even even smaller. Yeah. Uh, to what you have to put out to pay. So extremely worthwhile venture.

Justin Bogard:

There's a price doing business.

Lauren Glory:

Exactly.

Justin Bogard:

This is what you have to pay to do business in, in anything that you do in life, there's a price of doing it. The more expensive things you need to focus on are not the service fees. They're actually your due diligence cost and your post-closing costs and things like that. That, um, you know, Jamie, Chris and I and Richard, we all, we all talk about, um, that's what people have to account for is like, you can, you can trim those costs down to offset any service or costs. Cuz you know, servicers have costs anywhere, let's just say from, from$20 to$40 a month. It's just a rough broad spectrum of what mm-hmm.<affirmative>, you know, servicing just a, just a light servicing of a note would, would cost someone, uh, per month per loan and there's other fees associated with them. I'm just trying to give the landscape here to the audience that may not know what the servicing fee costs are. Mm-hmm.<affirmative>, if you're managing a, if you have a rental property, guess what? You're probably paying 10% of the rent just towards a property management fee. And they're not doing all the things that a servicing company is offering in the note space. So it's well worth it. And it's a cost that people should just not even consider a, a problem and just, you know, let that be the drop in the bucket and know it's a cost of doing business.

Lauren Glory:

Correct. It also pays off in spades. If you get to a point where you've purchased a note that is delinquent or non-performing and you want to ultimately proceed or not want to, but feel compelled to based on the circumstance, proceed with legal, uh, you do need that history, you need that, uh, background on your notes. So yeah, we have all of that on hand at all times, which is, it becomes significant when you start to build portfolios. Tracking and organizing the information is challenging. Uh, chasing the borrowers is challenging and we really like to treat them with a good lot of respect, but also collect and, um, it's, it's a slippery slope. It's a difficult job to do, but we do do that and we document it for you. So not only are you getting passive income, we're dispersing it, we're handling it. Um, yeah. I'm just turning it around for you. There are a lot of other elements to that, such as the documentation that is a available throughout as well so the lenders can see or not see as much as they want at any given time. I also tend to make myself available as a, a vocal mouthpiece if you just wanna call in and, and get a report on the fly. We understand that. Yeah. So it's a busy arena. I always tell people that when you're dealing with, um, people who are investing, a lot of people are starting out doing that in addition to their regular job mm-hmm.<affirmative>. So that, that's a lot of work. It's a lot of time. And you need somebody that's available to you at night, on the weekends, whatever you need to do and you need to trim that for yourself while investing Yeah. You know, to, to live life a little bit while trying to build your personal wealth. So we're there,

Justin Bogard:

And, and I had to say as a, to toot your own horn here for, for bfi, this is, this is your plug now. Okay? Mm-hmm.<affirmative>. So I, I do use BFI and we use it for our American note buyers, uh, project that Richard and I are a part of and our, our fund as as well. And so we do have success with it and we use other servicers as well. But um, we also use buy and, and we do like BFI and we continue to use them, uh, with, with all of the other servicers out there that can service loans. There's, there's large servicers that service just banks. Right. And there's servicers that service, we'll call'em, uh, mom and pop type investors, like all of us, uh, people that, you know, have anywhere from, you know, five to 500 in their portfolio. It's like we're, we're a smaller potato in the grand scheme of things. And so there are, there are a myriad of different servicers out here and they all provide the same, uh, general service, right? They, they take your notes payment, they document that payment and then they offshoot to you the net, the net proceeds that you get per that payment. Okay. That's just the general scope of it. But each servicer's a little bit different, right. They're just like any vendor you would use in life and any company that you're at, they all specialize within the specialty servicing and something really good and there and there's other things that they're not as strong at, um, for different reasons. And I don't mean that to be a negative, but, um, I've found that over the course of using many different servicers that I know which servicer I would use for a certain reason. Like, um, the easiest example that comes to mind is that you're not licensed in every single state. You're licensed in a lot of states right now because you're trying to get your license in every state. But there are some services that just don't do servicing in certain states for certain reasons. Mm-hmm.<affirmative>. And so you would wanna know that before you buy a note. Like, okay, if I have to buy a note in x, y, Z state and I like using BFI and they're not there, well I either don't buy the note or I figure out who else I can service the note with in that area because it just is what it is. There's probably a don't ton of different reasons why you, uh, don't have a license in a certain state or you're trying to obtain it. Cuz maybe it takes a couple years to get it because of all the hoops and stuff you have to go through. Cause I don't think people understand the government tape that you have to go through to get a servicing license in a state. And it's, I know it's an enormous tax in

Lauren Glory:

Some of it's task. It sure is. Particularly at this time of year stacking onto end of year. So Yes. Um, I appreciate that. We do really enjoy and appreciate your business as we do with you and, um, any other investor that is following in your footsteps. We are a growing entity. So that's one of the reasons, one of the main reasons that I'm here. I've actually been in that situation before. So before I came to bfi, I've grown a company, I wanna do that with our core business. I wanna do that with our core people. So people that are coming in right now learning how to deal with the note space are really in an ideal situation. Just, um, by the nature of where they are in the process. If they couple with, we are also in a niche space when it comes to delinquencies. Like I mentioned, we do, do performing notes. I have no problem with that. But, uh, again, we're good at converting and mm-hmm.<affirmative> facilitating bankruptcies and foreclosures. One of the ways that we really stand out and one of the big incentives for the owners to start this business was to solve pain points that you might face with other processors and servicers. And that is not necessarily, you know, casting aspersions, but not a lot of people are dealing with escrow and F P I insurance, which is something mm-hmm.<affirmative> that I'm sure you're teaching your audience about. We

Justin Bogard:

Oh

Lauren Glory:

Yeah, we do. Uh, we do handle that. It is a very, very, very sticky area for people. It is to handle on their own. Having the expertise here and uh, people that specialize in that, to facilitate that for you and brokers on hand to help us do that in a very professional way is priceless, I think. And that is from the good ways that we shine.

Justin Bogard:

I, I can tell you from a personal experience that, uh, understanding what the compliancy is for getting F P I, by the way stands for force placed insurance policy. It's where a lender can actually put an insurance policy on a property if the borrower does not provide proof that they have the property insured or it has lapse. So the lender has the right to do that based on his security instrument, whether it's a land contract, no mortgage, or a adida trust. Um, with that being said, yes, it's absolutely critical for us to have a vendor, a partner that can help us with that. Cuz quite honestly, all that stuff to track can be difficult when you have 50 plus, uh, loans. Especially, uh, when you have small amount of loans like 4, 5, 6 loans, it's not that difficult to track yourself. You could take the time to do it and do it very minimalist, minimalist, minimalist, uh, you know, with running a spreadsheet and just kind of tracking it that way. But yes, it's, it's a drop in the bucket to use a servicer with the cost for it. So when people tell me, oh, everything is so expensive, I have always costs, I'm like, you didn't buy it. Right. You didn't calculate this into your buying price. Exactly. If you adjust for all this future inflation, if you will, these future expenses, you're gonna be just fine. And it's gonna be a drop in the buck, actually. It's gonna be a wash and you're gonna be as profitable as you want to be. So if you set your bar where you want, you want to in the beginning knowing all these extra costs in the future, you're gonna be just fine.

Lauren Glory:

That's absolutely correct. And like I said, people that, uh, go into that with their eyes open like yourself are structuring their notes in such a way before they get there of anticipating these and being ahead of it is what we all do best here. Right. So if you're getting out ahead of your pricing and you're understanding that it's there, you're thinking about that in your spread and it is, it's minimal. It's truly minimal for the amount of work and for the level of work, the level of, um, people that we have working here at BFI and the amount and, um, yeah. I'm just gonna go back to level of work that's done. Yeah. It's an extreme bargain. I am very transparent as well. You mentioned inflation, you know, not, not like any other servicer doesn't have the same situations, but we are in an inflationary economy, BFI has had exceptionally low prices from inception. Yeah. But we do realize that there is a small spread that you do need to cover. So we we're cognizant of that even in such an economy when we do invariably have to look at pricing and, and we we're transparent about it. So we always Yeah. Tell everybody ahead of time if, if that's happening. And when you're in finance, you see that coming when you

Justin Bogard:

Sense

Lauren Glory:

Inflation. So if you're prepared, not a problem.

Justin Bogard:

That's right. That's right. So I was speaking earlier and kind of running down the path of talking about and comparing different servicers how they each have their positives. And some of them just are a little bit weaker as far as other versus other strengths are. And so I'm sure on the flip side of the coin, you have investors that you work with that it may not be a good fit for you and that investor because of different reasons. And for example, somebody like me and other type of servicers, we don't fit very well because either it's not really our personality, it's more of what we're trying to accomplish and how the communication needs to happen and the process going forward. Um, so I always tell people, you know, you need, you need to<laugh> you need, you need to marry your investment and date your servicer. Right.

Lauren Glory:

<laugh>. That's so true. Yeah. That actually goes, goes to the fact that I, I do give out my cell phone right in

Justin Bogard:

My<laugh>

Lauren Glory:

Right in my corporate signature, and I do invite my lenders. I I try not to disappear. It's really something that, like you said, it's a fit. It's just a fit if it is. And, um, we are the servicer that offers personal service. So I tend to, um, reach out and talk to people that are in initial phases of note buying and I stay around. So I like to develop those relationships. I think that speaks highly of what we're striving to do. Yeah. In continuous improvement and coming out of an engineering background where I was, uh, prior to this with my math and, and finance work, uh, I'm a continuous improvement person, so we're always looking to, to do better and better. I think in some cases you run into a situation where you might be dealing with somebody, somebody like myself, and then the executive director is gone, you never hear from them again. Right. So that is us. Um, you know, yeah. I'm dateable and available by cell phone all the time.

Justin Bogard:

<laugh>. Yeah. I I just have to say that, um, your acronym speaks for your company's, uh, mission statement, if you will, the by investors for investors because it's built, and I can speak to this because I'm using your service and I have been using your service for over a year, uh, for for many different loans, uh, buying and selling through them by the way. We, we have, we don't just, you know, keep them there. It's buy and sell. So I experience kind of all sides of it performing and non-performing and even loan modifications, reperforming, we kind of experience a lot with you guys. Mm-hmm.<affirmative>. So I, I can say that, um, you know, you, you, you aren't the 900 pound gorilla, I guess I would say. Exactly.

Lauren Glory:

Yep.

Justin Bogard:

Mm-hmm.<affirmative>, but, but you aren't the baby either.

Lauren Glory:

Exactly. No, we're quite established. You can't even get licensing, like you said, without being, uh, a player in the industry. And we are definitely that.

Justin Bogard:

So you guys can handle a lot of loans and you can also handle a few loans. And what I like about it is it feels like, um, that company that treats everybody like a V I p to where just because somebody may have 200 loans with you, they don't get really treated any different than, or they, they, they get the same white glove treatment Yes. As somebody with just a couple of loans. And that's what's really cool and unique and it just bodes to your mission statement.

Lauren Glory:

I really appreciate that. I'm so pleased that you come away with that feeling. It makes us busy. Um, you know, if you're reading books like the four Day Work Week or, um, efficiency expertise, they tell you to, to, um, suss out the people that are not doing bigger business, I don't believe in it. Um, I try to have a balance of both. I, I really do feel like that's important to us. We are here on an individual level. I think this area of servicing this niche where there is delinquency, like I said, requires personal aspects. It's not, um, your mortgage origination type company where everybody's performing, everybody's predictable. They're paying in a certain way. Right. The experiences that your borrowers might be going through to get where they are, are so varied and vast that we wanna treat them personally and treat all the lenders personally. And like I said, I actually have a particular affinity for the people that come in from the beginning and having grown companies quite large before. Yeah. Um, that's a core that I think really stays with you. So there is a small family, uh, dynamic I think I would say here that gets bigger and bigger and I think it serves our audience well in that they know each other too, so people get to know each other. We meet up at events. I didn't get to see you Justin at Note Expo, but, um, it's a small Yeah.

Justin Bogard:

Where were you hiding? I was trying to find you. I know,

Lauren Glory:

I dunno how that happened.<laugh>. Yeah. Um, it's a small world. I definitely, in that particular case, for example, meant everybody that I was looking to do future business with and was trying to really catch up with. Yeah. Our existing lenders too, who were often, um, apologizing for taking my time at a business development situation. And I, that's what I was there for. I really specifically carved out certain days that I wanted to meet with people. We go out to dinner, it gives a forum. We are really a good middleman for people that want to meet each other. And there is the, uh, arena of transfers right. Of nodes as well. And that's cheaper for people than onboarding and d boarding through other companies. So I'm not sure if you've mentioned that and, and given some mentorship of that as well. But that's really something else that we do that helps our lender population.

Justin Bogard:

Now, you, you have to be nimble as a loan servicer, I think. I think you just can't be the black and white bank that says, Nope, you don't pass or, or you pass or you don't pass. It's, it's, it's not, it can't be black and white. You have to, everyone needs to follow the rules, right. But you have to be understanding and nimble and you have to adapt to certain environments because you'll get law changes just like that. Mm-hmm.<affirmative>. And you won't have time to prepare for it. You have to react to it, unfortunately, and figure out ways to get around it. And that's unfortunate the way that our judicial system is right now with, with all this stuff. Uh, not, I'm not saying this to be, you know, to, to be scaring anybody. This doesn't happen very often, but sometimes things change with the law and you have to figure out, hey, what's the aftermath now? Are things grandfathered in? Are they not grandfathered in? Um, but, but I, I just, some servicers are pretty black and white and I wish they were more nimble. So I like the mission statement of bfi and I like how it's, it's, you're adaptable to things like you, you're firm on what you need, right? You have to have receivables mm-hmm.<affirmative> to provide a deliverable. Right. If you don't have those, it doesn't work. It's in what goes in, you know, trash goes in trash. Excuse me. Trash, trash goes out. What I was trying to say. Um, so we, we do appreciate that.

Lauren Glory:

Um, yes, yes. I'm personally particularly high, um, high energy on internal control and making sure that, uh, I'm a little on the demanding side here, but like you said, personable and, um, able to pivot that. We definitely do excel in that type of an area and it happens. So you mentioned one of the ways that things change are with the states, and I think sometimes if you're looking for servicers and you're looking at their map and you're not coming from, uh, an area of distinguishing why servicers might be licensed in one place and not another, there is a, uh, place where we give advice. I was talking to a lot of our lenders when we were at our last event or prospective lenders about what states we do business in. And people that have been in the industry for quite a while know, uh, inherently sometimes why we might pick one state over another, because I'm going for Len, lender friendly areas. Uh, we also talk to our lenders. If I know Justin, they have 40 notes and you need help in a state, and we don't have it yet, you know, might go after it, but if it, they're long to foreclose. Um, if they're not as lender friendly, I'm not probably going to invest in it. It's expensive. I don't wanna pass those costs on. It's one of the ways that we keep it under control to our lenders by chasing our tails where it's not something that is attractive to the lender audience as a state. So, um, judicial timelines are important and definitely yet another thing Yeah. That you do need to be well versed on when you're looking at what to buy and, and we'll answer questions. I'm here to do that. I do a lot of talking to people before they buy their notes. I'm happy to help.

Justin Bogard:

Yeah. That's, that's one thing I've always appreciated about you and vi fi is that you're willingness to kind of help out before you even get the business. You don't ask for the business. You're willing just to help people research and discover what possibility the next step is and then, you know, it it, it all comes back to you.

Lauren Glory:

Exactly. Yep.

Justin Bogard:

Lauren, thank you so much for being on our podcast today. This is, uh, season five, episode one of season five, so starting a brand new year with a brand new 26 episodes in the next season, uh, as we have done before. So thanks for being a part of the podcast today. We really appreciate it. If you go to bfi, is it B I F I L s.com?

Lauren Glory:

Yes. For loan servicing? Yep. BFI loan servicing.com, bfi ls.com. We also have links on there to help people get started bringing entities in if they ever want to, uh, get a relationship rolling with us. And it helps to roll the ball faster when you do pick up notes in the long run costs nothing. We also have the free e-book on the bottom of the website. Okay. Okay. Um, and the states that we are licensed in are listed as well. So, and furthermore, I greatly appreciate you having me today. Thank you so much. You're welcome. It's a pleasure dealing the dealing with you and the business sense and on the podcast as well. Awesome.

Justin Bogard:

Well, you're welcome, Lauren. Thank you so much. All right guys, we will see you on the next episode. Chill then. Bye Lauren.

Lauren Glory:

Bye-bye.

Narrarator:

Thanks for listening to Be the Bank. We hope you learn something from today's show. If you enjoyed this episode, please rate and review us. Plus check out our Bright Path Notes channel on YouTube and follow us on Facebook and Twitter at Be the Bank and on Instagram at Be the Bank podcast, be The Bank is sponsored by Bright Path Notes. Thanks again for listening.