Q And now what is LBAware? For those not familiar, what do you do and how do you make money?
A Sure. So the mortgage industry is a complex, uh, Vertical, and we operate only in that vertical. We provide staff systems, um, that are back office, uh, products. So, the Comp and Safe, our main product, is built around managing the sales performance and analytics of the loan originators mainly, and then paying them compliantly on their loans. The mortgage industry is traditionally a commission-based Industries. So they, and after 2008 and nine, there are laws, uh, within Dodd-Frank that they can only pay in certain ways. They can't pay on the revenue of the product, but they can pay on, uh, the production of the product. So we, we have a business engine, business rules engine lenders can use to facilitate how to encourage, um, and motivate their sales staff and then pay them commissions.
AI assessment note: “built around managing the sales performance and analytics of the loan originators mainly”