CONNECT by California MBA

The California MBA

Welcome to California MBA's podcast, Connect, our all-new podcast featuring one-on-one interviews with some of the top movers-and-shakers in the mortgage industry. California MBA serves to represent the residential and commercial real estate finance industry before all governing bodies. The California MBA encourages and promotes sound business practices and honesty in marketing, origination, lending and servicing of mortgage loans through our educational and networking opportunities.

  1. Why AB1018 Could Raise Mortgage Costs 50%+ | Paul Gigliotti & Nick Pabarcus Discuss

    MAR 8

    Why AB1018 Could Raise Mortgage Costs 50%+ | Paul Gigliotti & Nick Pabarcus Discuss

    In this episode of the INSIDE THE IMPACT Podcast from the California MBA, host Paul Gigliotti, CEO of the California MBA, sits down with Nick Pabarcus, Managing Director of Non-QM Sales at PennyMac, to break down California bill AB1018 and its potential impact on automated decision systems—including AI—in mortgage lending. AI has powered mortgage efficiency since 1997 with Automated Underwriting Systems (AUS), and today it's embedded "cradle to grave": from borrower applications and OCR income analysis to predictive servicing and expanding access for low-to-moderate-income (LMI) and Non-QM borrowers. Yet AB1018's broad rules could force manual underwriting opt-outs, spiking fulfillment costs by 50-60% (potentially adding tens of thousands in lifetime interest for borrowers) and reducing credit access—ironically harming the consumers it aims to protect. Nick shares how AI improves speed, accuracy, reduces bias when properly overseen, and is poised to commoditize the growing Non-QM market. Paul stresses the need for nuanced policy that recognizes the mortgage industry's heavy existing regulation. Key takeaways: Responsible AI expands opportunities and lowers barriers—overreach could do the opposite. Timestamps: 0:00 – Welcome & AB1018 Overview 0:45 – AI's Long History in Mortgages 3:59 – Operational Concerns with AB1018 7:20 – AI Benefits for LMI & Non-QM Borrowers 10:05 – PennyMac's Non-QM Expansion & AI's Role 12:10 – Final Thoughts: What Lawmakers Need to Know Subscribe to California MBA for more industry insights on legislation, innovation, and advocacy. Like, comment your thoughts on AB1018, and share with fellow mortgage professionals!

    14 min
  2. Unified POS/LOS + AI: Wilco's Charlie Changes Mortgage Production Forever

    MAR 2

    Unified POS/LOS + AI: Wilco's Charlie Changes Mortgage Production Forever

    Join Paul Gigliotti, CEO of California MBA, on Connect for Episode 254 with Tom Morelli from Wilco! Discover how Wilco is transforming mortgage origination with Charlie – a groundbreaking Production Optimization Platform (POP) that unites POS, LOS, AI, and business intelligence into one seamless system. Key topics: - Why traditional LOS/POS silos are broken and costing lenders $11-13K per loan - Making the borrower a true partner with real-time transparency and no more repeated document requests - Breaking workflows into discrete activities for parallel processing, higher quality, and lower fallout Wilco's founding vision from industry legends (DocuSign, Optimal Blue, Ellie Mae) - The Brimma acquisition: AI-powered content intelligence (DocFlow OCR/ICR) for quick wins – even if you're not ready for full Charlie - Business intelligence that self-diagnoses bottlenecks and sets data-driven expectations Whether you're a lender battling high origination costs, prepping for the next refi wave, or exploring AI in mortgage tech, this episode is packed with insights! Timestamps: 0:00 - Intro & Sponsor Shoutouts (AmeriHome, Western Alliance Bank, etc.) 2:30 - Meet Tom Morelli & Wilco's Founding Team 5:00 - The Broken State of Origination: Costs, Silos & Duplication 9:45 - Core Philosophy: Unified POS/LOS for Borrower-Centric Experience 15:20 - Discrete Activities Workflow & Parallel Processing 20:10 - Real Borrower Impact: Speed, Accuracy & Fewer Frustrations 25:40 - Reducing Late Fallout & Cost to Originate 28:00 - Brimma Acquisition: AI DocFlow & Modular Content Intelligence 32:15 - Business Intelligence: Real-Time Bottlenecks & Stats-Driven Insights Subscribe to California MBA for more industry-leading conversations on advocacy, tech, and mortgage innovation. Like & comment: What's your biggest origination pain point? Learn more about Wilco: https://www.wilco.io/ (or official site) California MBA: https://www.camortgage.org/ #MortgageTech #LoanOrigination #AITech #MortgageLending #ProductionOptimization #CharliePlatform #Wilco #CaliforniaMBA #Podcast

    21 min
  3. From Paper Stacks to AI-Powered Verification: The Future of Mortgage Lending w/ Sasha Stair, CMB®

    FEB 17

    From Paper Stacks to AI-Powered Verification: The Future of Mortgage Lending w/ Sasha Stair, CMB®

    In this powerful episode of the Connect Podcast by California MBA, host and CEO Paul Gigliotti, sits down with Sasha Stair, CMB®, CMO at Xactus, to unpack the massive shift happening in mortgage verification. Say goodbye to outdated, manual, paper-based processes — Xactus 360 delivers dynamic, data-driven verification that adapts in real time. Powered by strategic partnerships with Plaid (bank data) and FICO (advanced scoring), lenders can now consolidate credit, income, employment, identity, fraud, flood, and more into smarter, faster workflows. Episode highlights: - Over 40% of U.S. workers have non-traditional income — how intelligent verification handles complexity without friction - Fannie Mae & MBA stats: ~25% of loans fall out due to incorrect income verification — the costly problem Xactus solves - Combining AI/machine learning automation with expert human consultation for lender-specific customization - Reducing loan fallout, speeding up pipelines, and improving borrower experience - Sneak peek at the upcoming Xactus Mortgage Intent Index — predicting borrower intent before they even apply Whether you're a lender, mortgage exec, or fintech innovator, this conversation reveals how technology + strategic data partnerships are reshaping origination and borrower engagement. Subscribe to California MBA's Connect Podcast for more insider conversations on mortgage innovation, compliance, and growth strategies. Timestamps: 0:00 Intro & Guest Welcome 2:30 Evolution of Verification Landscape 8:15 The Non-Traditional Income Challenge 15:40 How Xactus 360 Works 22:10 Partnerships: Plaid, FICO & More 30:00 Reducing Fallout & Streamlining Workflows 38:45 Future: Mortgage Intent Index 45:00 Sponsor Thanks & Closing

    15 min
  4. Will AB 801 Change How We Lend in 2026? | IMPACT Podcast

    FEB 6

    Will AB 801 Change How We Lend in 2026? | IMPACT Podcast

    In this episode of the IMPACT Podcast, California MBA CEO Paul Gigliotti sits down with Chuck Iverson to break down California’s proposed Community Reinvestment Act (AB 801) and what it means for the industry heading into 2026. While the intent behind new legislation is often to help, Paul and Chuck discuss why policy must be grounded in operational reality to avoid unintended consequences for housing affordability and credit access. Key Realities Discussed in this Episode: The IMB Impact: Why independent mortgage bankers are already the primary drivers of lending to LMI and minority borrowers. Policy vs. Reality: The danger of well-intended legislation that ignores the mechanics of the mortgage market. The 2026 Outlook: What the California MBA is doing to ensure advocacy is driven by data and consumer impact. About the IMPACT Podcast: The IMPACT Podcast brings you the conversations that shape the mortgage industry, featuring leaders who are navigating the intersection of policy, business, and advocacy.

    14 min
  5. Secondary Market Secrets: Whole Loan Trading, Valuations & Market Shifts with Rams Capital | Ep. 252

    FEB 1

    Secondary Market Secrets: Whole Loan Trading, Valuations & Market Shifts with Rams Capital | Ep. 252

    In this episode of Connect by California MBA, host Paul Gigliotti sits down with Vik Kasparin from Rams Mortgage Capital for an in-depth look at the secondary mortgage market. Rams specializes in mortgage asset valuation, training, advisory services, and whole loan trading—focusing on post-closing strategies for lenders, banks, and portfolio holders. They help market and sell specialized assets including non-agency jumbo, non-QM, second homes, bridge loans, and select agency products with arbitrage potential. Key highlights from the conversation: - How falling rates and supply/demand imbalances are driving buyer appetite in 2026 - Growing demand from insurance companies and asset funds pushing yields tighter (agency, jumbo, non-QM) - Holistic valuation methods: models + real-time trading desk insights to price prepay penalties, compare to Treasuries, and support warehouse bank mark-to-market - Why many lenders mistakenly expect par pricing—and how lower-coupon loans often trade in the 90s or 80s - The rise of non-QM and specialized loan trading (including scratch-and-dent paper) Whether you're in origination, secondary sales, risk management, or investing in mortgage assets—this episode delivers practical insights from one of the industry's major whole loan traders. Thanks to our 2026 President's Council sponsors: Amerome, Consolidated Analytics/loanDNA, CMG Financial, FundingShield, Guild Mortgage, Rocket Mortgage, Weiner Brodzky Kinder, and Western Alliance Bank. Subscribe for more mortgage industry interviews, market updates, and expert discussions from California MBA! #SecondaryMortgageMarket #NonQM #WholeLoanTrading #MortgageValuation #MortgageIndustry #NonAgencyLoans #RamsCapital

    17 min
  6. Connect with Connect with John Rothfield, Derivative Logic | Episode 248

    11/10/2025

    Connect with Connect with John Rothfield, Derivative Logic | Episode 248

    Join us on the Connect Podcast as CEO of the California MBA, Paul, sits down with John Rothfield, a seasoned economist and advisor at Derivative Logic, for a deep dive into the current financial landscape, managing market volatility, and turning economic uncertainty into a clear vision for the future. John brings a wealth of experience from institutions like Bank of America and CalPERS to the table. In this episode, John offers practical insights on how independent advisors empower lenders to lead, sharing his expertise on interest rates, FX advisory, and macroeconomic cycles. Key Discussion Points: • The Current Economic Cycle: John breaks down the high level of uncertainty but surprisingly low volatility in the market, sharing his outlook on stability as we approach midterms and how central banks are working to maintain balance. • Lessons from CalPERS: Gain valuable insights from John's time at CalPERS, emphasizing the critical importance of independent knowledge, robust processes, and respecting different timeframes when making investment decisions and managing risk. • Successful Risk Management: Hear two compelling examples of effective risk management, including an economic outlook that predicted market resilience and a corridor strategy that successfully reduced premium costs for a borrower. • The U.S. Government Shutdown: John explains why shutdowns are unique to the U.S., referencing the three multi-week shutdowns since the 1990s. He discusses the crucial economic data (like employment and inflation figures) that continues to be released and its impact on the Federal Reserve. • Economic Impact & Rate Outlook: We discuss the potential effects of a shutdown on the unemployment rate and the housing market. John shares his prediction for future Federal Reserve interest rate cuts (possibly in October and December) and his cautionary note about a potential "melt-up" in rates next year. • Actionable Advice: John advises listeners to act now and take advantage of the current low-interest-rate environment to protect against future inflation risks. Don't miss this essential discussion for anyone in finance, lending, or real estate who wants to navigate market volatility with confidence.

    26 min
  7. Digital mortgages aren't the future. They're here. | Connect with Leah Sommerville, DocMagic | 247

    10/27/2025

    Digital mortgages aren't the future. They're here. | Connect with Leah Sommerville, DocMagic | 247

    Digital mortgages aren't the future — they're here. Tune in to the latest episode of the Connect Podcast, presented by the California MBA, to hear how the industry is making the shift to fully digital closings! This week, the CEO of the California MBA Paul Gigliotti, sits down with Leah Sommerville, Director of Sales at DocMagic and 2025 HousingWire Rising Star, to dive deep into the world of mortgage tech. Leah shares how she's helping lenders embrace fully digital closings and what that means for borrowers. We discuss everything from AI-powered platforms to the rise of eHELOCs and beyond. Leah breaks down the cutting edge of mortgage innovation and reveals what's still holding some lenders back from making the leap. Hear how DocMagic is actively pushing the entire mortgage industry forward! Topics We Cover: • The current state of digital mortgages. • The role of AI in the lending process. • Understanding eHELOCs and other digital products. • What prevents lenders from adopting digital closings. • DocMagic's vision for the future of mortgage technology. Stay connected with the California MBA: https://www.linkedin.com/company/californiamba/

    17 min
  8. Connect with Paul Gigliotti, Incoming CEO, California MBA | Episode 246

    10/06/2025

    Connect with Paul Gigliotti, Incoming CEO, California MBA | Episode 246

    In this special edition of the Connect podcast, outgoing CEO Susan Milazzo sits down with her successor, Paul Gigliotti, to discuss the future of the California MBA (California Mortgage Bankers Association) Susan celebrates her 21 years of service while Paul, a veteran mortgage leader with a deep background in mortgage technology, outlines his vision for the association. Get an inside look at Gigliotti's journey, from building lenders to advancing mortgage tech, and hear his plans for amplifying California MBA’s advocacy, enhancing member engagement, and leading the industry through an era defined by affordability and AI innovation.

    16 min
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Ratings & Reviews

5
out of 5
3 Ratings

About

Welcome to California MBA's podcast, Connect, our all-new podcast featuring one-on-one interviews with some of the top movers-and-shakers in the mortgage industry. California MBA serves to represent the residential and commercial real estate finance industry before all governing bodies. The California MBA encourages and promotes sound business practices and honesty in marketing, origination, lending and servicing of mortgage loans through our educational and networking opportunities.

Information

  • Creator
    The California MBA
  • Years Active
    2019 - 2026
  • Episodes
    247
  • Rating
    Clean
  • Copyright
    © All rights reserved
  • Show Website
    CONNECT by California MBA

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