 Welcome everyone to the capital markets mortgage subgroup meeting before we get started. I did want to express our appreciation to different the chairman of the capital markets special interest group and Karen are hyper led to point of contact for their ongoing support and making this this whole community possible. So with that, why don't we just go ahead and move forward. Okay. Before we get started, please note that this meeting is being recorded and is under the umbrella of the hyper ledger foundation. So we asked that everyone abide by the antitrust policy and the code of contract. Excuse me code of conduct for the antitrust policy avoid discussions of companies specific pricing products and projects. We have a lot of sensitive remarks about other companies or products, and for the code of conduct, treat each other with respect, never discriminate and communicate constructively. We fully support hyper ledgers policy of openness equity and inclusion. And for new participants, we welcome you and if you'd like please introduce yourself in the chat and let us know if there's any specific areas of interest. So this is today's agenda. We've already done the welcome housekeeping will go through hyper ledger community information, provide a state of the blockchain in the mortgage industry group will have a demonstration of the home lending pal application, and then we'll go over any future topics and q amp a. I heard this slide last time but I think it's worth revisiting. Since you're on this call, you and your company are somewhere along this path of the blockchain journey. You may be looking at different technologies building a blockchain application, looking for customers for your blockchain app, or maybe just taking your first step. We're all on the same blockchain path, but we may be at different points along that path. So this group is intended to help everyone on their blockchain journey. Some community information that we wanted to pass along. We're launching the hyper ledger challenge and this is something that's really exciting. And they've been communicating it's intended to harness the power of different communities to ideate develop and launch innovative solutions develop using open source technology. Any innovation that advances the current state of the enterprise distributed ledger technology is eligible for the hyper ledger challenge. I believe they're also looking for judges to be part of the hyper ledger challenge so please follow the link. I think this is a great idea to help the community and to really distribute the hyper ledger knowledge. I'm not going to go over the next couple slides they do contain information that provides links talks about hyper ledger and training how to create an LF ID. We're including this in him will always included in our presentation just for informational purposes and for people that are new just to make it easier for them to join. Okay, with that I would like to introduce James Hendrick who's going to talk about the state of blockchain James. Marvin thank you very much appreciate the introduction. Let's go ahead and move on to the first slide. So welcome everybody I'm James Hendrick this is our wiki slide you guys have seen it before. So quick updates I did drop in the chat the link at the very bottom so if you want it for quick access feel free to access the chat, click on that link and then save it as a favorite couple quick updates we're continuing to add research and article information to the site. So over on the right hand side you'll notice the updated research articles some of those articles we're going to be covering today. When you're on the site you scroll down in the lower right you'll actually find some additional research articles, but I also wanted to highlight over on the left on the menu we've actually added a third submenu page for previous mortgage blockchain articles. That's actually a link that'll take you to a page for all of our old articles you'll still be able to reference the information there. The articles that are on the right hand side of our wiki those are going to represent more of the last couple of meetings and then those will transition also over to the previous mortgage page as we continue to add content. So do take a look at the site there's a lot of useful information out there, including some of the topics we're about to cover. So this is a side that we've used in previous presentations and we've continued to add. It shows the global mortgage blockchain activity that's going on both at the international level, as well as the US level. A lot of the articles and prior to 2022 we have previously spoken about and or are available on the site. So take a look at you know 2022. We are gathering new articles this year we've already got a dozen or more of it we've collected. Here's four of the topics that we're going to talk about today to in the global space, one out of Canada, one and overall global analysis of blockchain. In this space we're going to talk a little bit about the USDF consortium, as well as a fintech company that is releasing their first crypto mortgage space. Again, for the 2021 articles if you're interested in those or any of the previous do visit our wiki site for that previous page. Moving right along Marvin. So what we thought was an excellent graphic to share with the group. You know, first to note it is focused really on crypto, but it's an excellent representation of internationally what is going on in the finance industry for major institutions, whether that's in the defy space the crypto investing or trading space blockchain transactions. You can see JP Morgan's kind of taken the lead in the stablecoin space. I wanted to share this with you because it represents that most of the major financial institutions are actively involved in blockchain development of one sort or another heavy on the crypto but we're seeing more and more industries including mortgage that are starting to expand out into blockchain as well as the crypto industries. So we wanted to give you guys a good overall overview presentation of, if you haven't, you know, boarded the blockchain yet, the blockchain train yet. This is a good time to get on board because as you can see all the major financial institutions have already left the station. Moving on to our global mortgage blockchain industry so talking about a couple things going on in the global industry. So first off we've got a British based company, or excuse me a Canadian based company out of British Columbia, called Terrazone technologies. Terrazone is an Ethereum based metaverse platform it's housed on the central land, and they are actually offering real estate that's represented in the metaverse as a non fungible token. The clients can actually go into Terrazone and they can look at various offerings and listings everything from land size, location prefab built elements. The client goes through a mortgage contract process once everything signed Terrazone actually approves the mortgage application on the property. The land nft is then held by Terrazone as a registered owner until the client pays the loan back. Terrazone though does grant deployment rights so that the clients can build on their virtual land, everything from you know building a property to running a digital storefront, you know hosting company office they can pretty much do whatever they want with their nft land, and like any traditional mortgage the clients going to continue to make monthly payments until it's paid off. The time it's paid off the virtual land nft is then fully transferred over to the client. You know we wanted to highlight this article because it's demonstrating an entirely new economy is starting to develop in the blockchain and the crypto space. And that economy is going to be hitting mortgage as well as a variety of other industries. So in the global market block chain space CB insights this month released a fantastic analysis on the overall blockchain development across the global scale in 2021. You know some of the highlights that come out of this in 2021 over 25 billion was invested in global blockchain funding. 20 billion of that was just through mega round funding, and of the 25 billion over 50, over 50% of it 56% was actually in the US share of that global funding. We also you know the article does break it down by different industries as well as geographic demographics. One of the interesting things I found out of this article is in 2021 growth in the decentralized finance space increased by 94%. It is projected that 2022 these numbers are going to be even larger. This is a fairly extensive analysis we do have it available on our wiki it's on the right hand side if you scroll all the way down into the research section. There are 70 pages long so there is quite a bit of information in it, most of it is graphs and charting, but I highly recommend if you're interested in what's going on in the blockchain environment globally. Take a look at that analysis there's a lot of great information in there. On to the US sector, so a couple of things to highlight. We had mentioned in last month's meeting USDF consortium it actually was announced the day before our meeting so we didn't have a lot of significant information. We do have some more information to share with you today. So you know as it says the USDF consortium it's a member based association at FDIC insured banks. The current members include New York Community Bank, NBH Bank, First Bank, Webster Bank, Sinovus, Figure and Jim Finthop as investors. They are looking to significantly grow their membership of FDIC insured banks throughout 2022 and beyond. So where the USDF differs from other types of stable coins, you know a couple of highlights it's minted exclusively by banks. It's redeemable for on a one on one basis for cash from any of the consortium members. A very interesting fact about it is the point is programmed to prevent transfers the wallets that haven't undergone a bank compliant review process so while you can get these new points through the consortium and you can trade them amongst the members or use them for transaction amongst the members, you can actually transfer it from your wallet to a wallet that has not gone through a bank compliant review process. And they're really looking to address the consumer protection of regulatory regulatory concerns of non bank issued stable coins. If you're looking for more information about the USDF consortium you can go to usdfconsortium.com. They've got some you know additional information on their site as well as the process for FDIC insured banks to actually enroll into the USDF consortium. They're also in the crypto space from the Dodd-Frank update there's a FinTech company called Milo. They are claiming to offer the first crypto mortgage in the US. Clients will actually be able to use their crypto assets to pledge Bitcoin in order to purchase property. They'll then qualify for a low interest rate 30 year crypto mortgage financing is available up to 100% of the purchase price with no cash down, which is a nice feature. It really allows the client to be able to own their Bitcoin, while they can continue to diversify into real estate, all while keeping that potential price appreciation of both of the assets. The thing to note about this crypto mortgage it's not yet available Milo is planning on releasing it hopefully in the earlier part of 2022 so more information to come on this one. We've actually found several articles out here about Milo and their crypto mortgage. These articles and others as I mentioned are all available on the Wiki so do come and check it out. Also, I'd like to encourage the members of this community. We have, you know, a considerable more analysis sums available on the site some we don't have posted on the site. 2021 alone, we found probably over five dozen different articles and reference information here in 2022 2022 there's already been over a dozen different research points that we found that we're gathering as well. So if you're interested in additional information, please feel free to reach out to me direct to reach out to us through the community. And or if you are finding information out there, please pass it along we'd like to put it as part of our research, and it may also be a potential one of the you know articles that we're highlighting in these monthly presentations. So that is it for the global coverage of what's going on in blockchain. I will pass it back to Marvin to introduce our guest speaker today. Thanks James that's some excellent information I'm still trying to get my mind around using a mortgage to buy property in the metaphors. I'd like to introduce our speaker today, Maria Munaro she is a blockchain architect for home lending pal. She has over 20 years of experience conceptualizing and designing solutions with a special focus in government and banking. Before home lending pal Maria was a client architect and blockchain leader for our BM, excuse me IBM in Argentina so Maria take it away. Marvin thank you. Let me share my, my presentation. There. So, can you see my screen. Yes. Good. So, what is home lending pal what is home lending pals objective. What we're trying to do is be able to provide a platform that can help both powers and lenders meet in in a fair way. Okay. What is currently happening. Usually we have to we are sharing personal information and that we could consider private and maybe not necessary to be shared. And how are we, how are we sure about how that is being handled. And the mortgages industry you can see a lot of different things happening. For example, usually it turns out that these are all studies that you can look at and find that, for example, women's are much better payers of mortgages, then men are, and yet woman pay on average a higher percentage interest rate than men do, even though they are better payers for those mortgages right. And then you have issues with people that are the same sex if they are the same sex. Usually they are less riskier but they end up not being as likely to obtain a mortgage compared to a couple that is not of the same sex. The same happens with minorities, for example, a black minority that there is what you find is that there is, you can say a certain bias that people from minority groups or women find it much harder to be able to obtain the same conditions that someone that another person could obtain. Okay, so our objective is to try to help turn this around. Okay. And one of the things that we have to think about is, what is that sensitive data about ourselves that we share that could intentionally generate this bias. And we have the ones that are usually considered a race, sex, age and ethnicity, so much so that there are regulations that currently require that lenders up front obtain these values, which is quite a bit of, you're asking people to ask those questions of what you are trying to avoid having as a bias in the system so you're asking people to obtain that a piece of information and but then you want to be able to value if they are introducing bias or not based on that. But these are not only focuses of sensitive data because, for example, I could not be sharing my race, my sex, my age or my ethnicity, but if I just gave you my name, Maria Monaro, you probably might guess at least three of those. Okay, you might not guess might not be able to guess my age but you probably would be able to guess my sex, my ethnicity and my race. Okay, so even our names can in some way introduce bias. And if I am not the only one that's applying for the mortgage by implying with a partner, even the information of my partner could introduce some type of bias because if it's also considered a female case or whether they're saying sex, and then we're going to the issue that I mentioned before of the same sex. The same can happen with your address, obviously with your zip code with your zip code you can, you can find out if someone is coming from a wealthy area or is coming from not so wealthy. And just because of that zip code, you could start inferring a lot of information. Okay. That could be true or not. And that's the issue. So, what we are trying to do is to be able to create a platform where your identity can be secure. And, and one of the issues that you have in currently in the process when you're applying for a loan is that the loan officer that is helping you out is actually starts asking you for a lot of different pieces of paper, and you have to go this other way. And you end up not knowing how much information you have to share and also the, the, the lender has to sometimes has to double check that information because we are still this is still a paper based industry. And a lot of the information is, okay, we need you to give us a bank statement, the original piece of paper, or print out from your home banking you have to print it out and present it as a piece of paper and they still will want to double check to be sure if that's true. And that ends up making that this process takes up a lot more time. And that might be one of the reasons why sometimes people focus on certain types of conditions of the different applicants, just because they think that the person with those conditions might be much quicker to be able to get the application done than someone that doesn't apply with those conditions. So what we are trying to do is actually be able to help the borrower before they submit their application to create a better portfolio of themselves, okay, to be able to present themselves in a way that is going to look much more agreeable to the borrower and that way, facilitate that the process instead of taking months, it could potentially be done in a week. Okay. The other thing we want to try to prove is that if all of us have the same face if all of us present the same characteristics that in regards with race, sex, age and ethnicity. The lender will help the lender be able to prove that they aren't discriminating based on those pieces of information, but maybe that borrower is not, he doesn't have the correct credit score to be able to receive the type of loan that they want. Okay. As I mentioned some of these, some of the steps that you have to go through in the mortgage process were implemented because of trying to avoid these. The use of the spies, or because technology didn't allow for any other way of obtaining that information. Okay, so we are trying to change that and be able to bring more transparency and also trust among the different participants in the ecosystem. Not only the borrower and the lender. Okay, you also have credit report agencies you have the bank where I have my savings and my checking account, you also have government institutions, you also have NGOs that help the borrower so there's a lot of different connections acting in the ecosystem. How are we trying to help the banks or the lenders per se. Well, if we are able to help the borrowers create that better portfolio using responsible AI. This will also help the underwriting process because we're going to be able to present a package, a group of documentation that the underwriters are going to be able to check and pass on much much quicker. So, this will help approve the ratings that they that the banks have to be able to approve or deny alone. Okay, we and we are not making the decision for the bank, we are just helping the borrower. It's, it says if you were going out on a, on a date, and it's not the same when a friend tells you, hey no that shirt doesn't look really good on you why don't you wear this other shirt shirt. It's just to you you're just changing the shirt doesn't mean that the outcome from the date is going to be better, but you got a better chance of it betting of it being better okay it's not the same going to a date in your PJs and it might be just dressing up a bit right So that is the in a very light way what we're trying to do right, we are using blockchain because this is a very important process where there's a lot of people that are interested in how it is going on and it's very regulated. So, the, the use of blockchain and will bring this transparency that is necessary for everyone to be able to understand what is happening currently. Okay. When we, when I say that we help the borrower beforehand. This means that we tell him hey look, if this is how this is your, how your, your credit is structured currently, you know if you went out less dined out less just maybe one. If you go out four times you go out three times a week to dine out. That would improve your credit position so much and that would mean that you will be able to apply to this type of loans, or to be able to obtain the financials necessary to be able to buy this home that you want. Okay, so we only and we also help them consider not only what they have to improve, but it when they're going to purchase that home. What are all the different costs that might not be hidden but we might not be as a borrower, we, and because we are not as knowledgeable and in the area in that subject matter, we don't know all the different things. And once we apply and we get the loan then we realize oh but I also had to pay for this oh but I also had to pay for this. Well if I knew I had to pay for all this these different items beforehand, then I would be much more prepared and and and would be able to solve everything wouldn't be so stressed. Now one of the things that we we started looking at when we approach this from a technology perspective is that you could consider all of those different pieces of paper that you present as a credential and what is a credential. A credential is like your driver's license. Okay, what does your driver's license have. It's the subject, in this case a driver's license it says who was the one that issued that driver's license. The city, the state, whatever it is, and it would show why it was that I was assigned that credential. Okay, now, as I said, a driver's license. We also have my debit card, my credit card. Okay, we have different types of credentials that we can that we currently have and we currently use and we keep in our wallets. The fact is that we actually, no one can actually be or certified they're actually true. I mean, you have a lot of movies that show that the driver's license or something is an item that you can type of credential that you can obtain, relatively it's not so hard and present it at different places. So, how could someone that is receiving this credential and you have to think that if you when you present that credential to another party, they're actually seeing all the information they do not want them to be able to see all of the information because it's not it's actually none of their business be able to see that information. For example, at a bar, they even know when you were born when they actually need to know if you're over 21 or not, they don't need to know when you were born. Right. So that helps bring in the concept of digital credential. And what's the difference between a digital credential and a credential that the digital credential I can immediately verify who that the who the issuer of this credential was any in that organization or does not necessarily have to be online so I don't have to call him up. I have a repository or have a network where I can verify that, okay, this credential was issued by this organization. Then it's up to me to decide if I want to trust that organization or not, but I can verify that that credential was is valid. Okay. And hasn't been obviously tampered with as a as a person that has that is a holder of a potential because I have it in my wallet. I can present it to multiple different parties it's mine it's my information I'm the one I'm the person that it's holding it and I'm going to present it to whomever I want. Okay. So, with that we are rethinking what the mortgage process could look like. Okay. As I mentioned, we usually we have we the regulation today requires that when a person applies for a submits an application, you have to ask them what their race their sex their age and their ethnicity is. What we are proposing is that, yes, we asked that information, but we do not share it with any of the potential lenders, we will only share it once a decision, a positive or a negative decision has been arrived at that way the lender, since they are going through a whole digital process, they will only be able to decide if I if they are interested or not and if I'm worthy or not of the of that loan, using my, what my assets, my asset report what my, my score is, and whatever other piece of information, hard information about myself they might need. Okay. This would alleviate the sub part of the of the load that the lender has to be of all the different checkpoints that they have to put to be able to ensure that they, since they actually don't know what my race or my sex or my ethnicity is, they could demonstrate that they are not introducing bias in a certain way, and by using digital credentials, they can, we're also helping them with the underwriting process because it's much easier for them to verify. Okay, yes, this is the FICO score was generated by Experian by Equifax by whomever. And, okay, yes, I can see that this was issued by Experian. Okay, I don't have to recheck it to be able to obtain it if I have a bank statement. Okay, I can see that this was generated by this bank. Okay, I don't need to go and ask and not the door of the bank to be able to ensure if that was generated by that bank or not. Currently, members that are joining the are more a bit. Yes, our pilot but we are actually the slide is not not so new. So for our platform, we have these different organizations, Flagstar, Tuna Mutual, Experian Equifax, and we are talking with different government organizations to ensure that they are aware of, of what technology can help you do, and how they also could benefit because they don't know that someone is interested how long someone takes until they present all the information. Okay, and why are they taking so long so they could benefit from all those people that actually never maybe reach a lender. Okay, they are interested but never ever reach a lender. And, and we are also integrated with Citadel for all employment data aspects, we are intrinsic for all of the part of the digital identity, and with member pass that is part of Tuna Mutual. We are working or integrating to be able to have share credentials among ourselves. With that, I don't know how we are with time I do have a small recorded demo. I don't know if you want you guys want to open up for questions first, and then I do the demo or how do you want to move forward. Maria, I do have a question I think there may be a couple questions. So I love the idea of eliminating bias with that token. But my question is, for a first time home buyer, that makes a lot of sense. But what if I am a seasoned real estate investor, and I'm looking for more of a long term relationship. Am I going to be one of your customers. If I want to go by multiple properties. So, one of my questions, how long are you guys going to retain my information to would you guys be able to help a seasoned buyer, or a real estate investor with multiple transactions, because I can definitely see the business case for a first time buyer, you would really expedite the process help educate them, but what about a season by. Okay, so I am not so the, I'm not a C level right but I can tell you that our current focus is, especially for minorities and especially in first time home buyers because it's, and it's where there's a potential, there's a market potential that they're not being reached. Okay, so that is where we're currently more focused at helping out, which doesn't mean when. So right now we're more focused on that which doesn't mean that we might not we're not we're not looking at the rest of the ecosystem nor at the rest of the process because you can say, Oh, you're talking only about origination, and there's also a different in the thing and whatever. Yes, there there's. So, one of the good things is there's a lot of room for growth. Yeah. Right. So, it's not saying that we're not going to grow but you to be able to run you first have to start walking we're trying to walk first and get that straight, and then move on to the the next step. Okay, thank you that makes perfect sense. I'd like to jump in here real quick so this is angel of on Maria great job. And I just want to tell you that you know, one of the top agenda items for all banks, not just in the US but around the world is financial inclusion. So I just want to take this opportunity to recognize you and homelying pal, or really, really looking at how what type of solutions banks and organizations can can can take and think about, and how they can expand their systems and how they can partner with you or whatever it may be to really address financial inclusion so thank you very much. I found this very inspiring. Yeah, absolutely. I definitely reiterate what angel said that was a fantastic job. Thank you guys are doing great. Were there any other questions from the audience, because we do have time to go through that your demonstration, Maria, but if there are other any other questions. And feel free for the group as Mario as Maria goes through her demo you can also drop questions into the chat as well but we'll do a little bit more Q&A after the demo to I think Lucas you had a question. Yes, join a little bit late Lucas Waley kind of piggyback on Marvin's question Maria when I was just seeing like, you know, thinking about the this applied to a real estate investor obviously multiple transactions over time. And the trick they're kind of being, there's a lot of pricing considerations to the level of experience of that investor, and that follows them through all transactions. So, like I said just kind of a consideration piggybacking on what Marvin brought up, but very interesting overall. And there's then there's different, like for example, in some communities so you might be thinking of okay no when someone goes and buys a house that's only just me. And in some minorities, it's not just me they've got forward or different five different salary earners that are living in the same house that are going to live in that other house that they all form. And though, if you were able to present those types of loans that's only not just one person that's signing the loan, it's there's a group of people that are justifying that loan, and usually it's harder so it's natural for you know the human business usually tries to go for the easiest thing right and not the most something that's a bit more, it takes a bit more work. So if we're able to present that situation as easy, then, okay, there's no one's going to not want to service them, okay. And currently it's kind of like okay yes oh but it's kind of like oh this is going to take a lot more time, and people aren't interested, and it's not because it's just because it's more work, and we naturally shy away from more work right is kind of hard. So if you're going to a seasoned investor the, the, or real estate investor the problems or the, the challenges, not the problems and challenges that they are faced with are completely different from when it's a home buyer right. So, the platform would probably have to adapt in another perspective, you know, because a completely different user. So there was a comment. Yes, consider the household income, yes Steve they consider the household income. I'm not saying that they don't. But if, if when you have to consider the household income. If it's if it was this high of a piece of paper and you have to win when it was just one person when you have to consider the household income that goes up a bit more right so it's not ever the same if if the folder that you're going to look through is small or is big right it's kind of like huh. And so let me share now. Oh Murray did you want to share your demo. Yes, I'm looking for a lot of screens open I was trying to find the right one. Okay, so there's, there isn't any sound to this so what you're going to see is a user, someone that has already signed up to the platform login. This is in our test environment so the data here that we're seeing is not data. So here we can see that this is George Sewell. He's a first time home buyer. He isn't a military military veteran he's looking for a primary home. So, he has already here saved some homes that he was interested in all of them in Kentucky. So we're going to see that he is going to choose one of these homes. And he's going to be presented here with a list of these are the lenders and this is the other thing right because when you okay and I want to buy a home. Who should I ask, or who should I present an application form for the mortgage to, and that's another big issue for a for a home buyer. The idea here is to be able to let him know, according to which is the best loan product that maps or that matches to what the home and his conditions are, who are those lenders that can that in his area, offer mortgages. Maria, while you're on that slide really quick. The mortgage score column. How do you guys actually determine that mortgage score the 76% that we see in that example. That's a good question. That is, we have an AI team that we have certain models that we are using and that we are updating that are the one that feed into that that score. The exact algorithm behind it. I am. It's not my area of expertise. You're welcome so here you can see that these are the different pieces of documentation that you are going to be asked for. This is going to vary according to your type of employment and and your if you're married or not that kind of thing right but these are the minimum that you would be asked for. And here we can see that they already have to that they've completed these two are digital credentials. And we're going to see okay and these are the credentials I'm going to submit this to the the lenders to the lender that I selected. And we're going to go to the I'm going to be able to monitor the progress of these. So, these are lenders that I'm contacting for the first time right. Currently only allow on the platform for you to be able to contact at the most three lenders. And I'm receiving a quote from them right so here we're asking the questions about your race your sex and your ethnicity. These values here are are what the government regulation says that you have to ask for so that's just following government regulation. And here we are storing that information but we are not sharing it with with the lenders. And once that is stored we can go we'll go to the monitor progress and then we'll be able to see which with which lenders you can have applied to and you can always opt out or which is okay I don't want to pursue this with anyone else in here you can see that we don't let you apply for any more loans until you've received feedback from the ones you currently have. Now if we access it as a lender. I'm going to see the different these are the new funding requests that I received. I'm going to see the one that I received that I made just made with for 89 K. I'll be able to the lender would be able to see the information about the, that new request, you can accept that request, he'll be able to see the credentials I was saying the information that was shared in this scenario we're sharing all of the information but here you could only share that hey they have over 10 K, for example, not, and you wouldn't know exactly how many much money you can get from the account that kind of thing can be done. So he, they've just accepted the, the lender has just accepted that request, and when they go in, they're going to now they have to send the process once you accept you propose the information hey, we can give you this amount of money. So, and once you propose the amount, then the borrower is the is the actor that has to decide if they can accept that proposal or not. And once they accept the proposal you have to wait for the purchase agreement right to be able to move forward in the process and here we can see all of the different loan applications that this that this lender has and be able to share the details related with that and here we can see that they are in pre qualification. Okay, but we would be able to view more in depth detail about this loan. And that's the short recorded demo that I that I wanted to share. That's excellent Maria this is Angel I just wanted to share just for the audience. The NBA reported that their purchase originations for 2022 are actually going to increase right so we know that the volumes of pipeline going down but purchases are actually going they're projecting 1.7 trillion for next year. Roughly, historically it's always been about a third. I think it's itching up a little bit more than a third 3435% of purchases in any given year our first time home buyers and so we're talking about roughly 600,000. We're talking about a hundred billion in in in first time buyer originations across the US. And again, you know we we don't know the average balances are but just a rough one you know, let's say 300,000 somewhere we're talking about 1.7 million loans, new loans or new property sales across the US so that is a very significant number. I know that lenders are actively working on their purchase strategies. LO's are retooling from refi to purchase building those relationships with their realtor realtor partners and a tool like this is just unbelievable. Back to you Maria and anybody else we have any questions or comments. If you were going through the demo, I couldn't help but think back to in for somehow I'm on mortgage lending tick tock. And it's all of these tick tocks that show or loan officers talking about all the mistakes that home buyers are making, while they're purchasing a home or going out buying a brand new car or submitting their applications to multiple lenders. I think your tool is fantastic for that type of consumer, and it really those tech talks underscore just the lack of knowledge for a large portion of the population, and that this is going to be very helpful. I mean, if they don't have an informed law loan origination officer. This is a fantastic tool for them. So, I think it definitely helps the felony. Yes, yes. We are receiving so they are they are different nuances in what how a borrow can present himself right so, and it's always constantly we're constantly updating it because there's different situations that we have to consider. Okay, well, why can't you apply for a loan okay this is the reason why you're not applying and be able to incorporate that into our models, but it's it's personally I find it's something nice to be able to be in a way. We're working with new technology, and yet we're also helping people out right so it's two fold. I have another call that starting in a couple minutes. So, if you guys do have any other questions. I'm not sure Maria if you'll be able to get your audio back. Please feel free to reach out to Maria, and we'll go ahead and include her email address in the chat. Yeah, Maria actually posted her email chat a few moments ago so it's available for everybody. Okay, yeah, now we can hear you. Yeah, I lost audio at one point I even lost I can hear you Marvin. I know I can't remember what we were talking about. Okay. Well, we only have two minutes and then there's another hyperlabel call that's coming on board so if there aren't any other questions. We could just go to the last slide. Thank you very much. This has been a fantastic presentation. Definitely appreciate the information I think you guys have a great product and everyone please feel free to reach out to the Maria. And Marvin you're not currently presenting so. Okay, so let me go ahead and share my screen. Okay, so the last thing that I did want to mention is for a future presentation, we do have someone that is interested in speaking for those of you that are members of the mortgage bankers association or follow their news link publications. There's an excellent article this week called digital transformations meet the metaverse by Mark P D Angelo, where Mark discusses the challenges of national institutions facing an understanding, benefiting from the evolution to the metaverse. I have invited Mark to attend. We're trying to work out the logistics now he may be able to present to us in March, or it may be a follow up meeting so we'll try and send out the link to his, his article as well but I just wanted to mention that to you guys. And if there's any other topics that you guys would like to see, I mean, please feel free if there are speakers, if there are topics that you guys would like to talk about. Let us know we want this to be as interactive as possible, and make sure that we're we're benefiting the community. James Maria Angel anything you guys wanted to add before we sign off. Thank you to Maria for taking the time to present to everybody the home lending solution. Thank you very much for your time. Yeah, definitely. Thank you again Maria. Thank you to everyone. Have a great day. We'll see you at the next meeting. Thank you.