This isn’t a commentary. It’s a “next level experience!” How are we in the week ending the first quarter already? Here’s some news that will be greeted with glee by every independent mortgage banker in the nation, whether they do business in California or not. The California MBA and national MBA, and constituents across the state, have defeated the CRA requirement for non-depository institutions in that CA. Given that 20-25 percent of residential production comes from the Golden State, it has wide ramifications. CEO Susan Milazzo tells me that the author of SB 1176 is removing all current CRA language. (Proponents of CRA requirements for IMBs relied, in part on a Greenlining Institute report.) What else are independents watching? A recent STRATMOR workshop indicated that the technology dollars spent is down for some large banks, but appears to have increased for some large IMBs as they are more likely to have transaction-based pricing than large banks. So in 2021, either more loans originated equated to higher costs for the Independents, or large banks were too busy during the refinance boom of 2020-2021 and may have hit the “pause” button on major projects. The technology being used by residential lenders is constantly evolving, and today’s audio version of the commentary is available here. Lender & broker products and services Total Expert recently announced the launch of its newest product that helps create the perfect customer journey: Customer Intelligence. Customer Intelligence drives growth and retention for lenders by surfacing borrower intent with consumer insights and signals. It allows you to know when customers act, allowing for a 360-degree view of contacts and automating nurture and outreach to provide the ultimate customer experience, sending consumers the right message at the right time. To learn more, Total Expert is hosting an upcoming webinar with Senior Director of Product Marketing, Lora Osborn, and Chief Product Officer, Matt Tippets, on April 7 from 12-1pm CST.