This isn’t another sales tips podcast.
This is Loan Officer Success Live - where mortgage and real estate pros come to master modern growth without the burnout.
Hosted by Devin Dubuc, Loan Officer Success Live is a deep dive into the psychology, strategy, and systems that build legacy-driven businesses in today’s market. Whether you're a high-performing loan officer, a rising agent, or an entrepreneur scaling fast, you’ll learn how to attract clients, grow income, and lead with brand, not brute force.
Real conversations. Tactical playbooks. No cold-call bro-hype. Just clarity, confidence, and creative firepower.
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Welcome to Loan Officer Success Live, sponsored by Premier Lending, the show where the mortgage industry's top players pull back the curtain. Your host, Devin Dubuc, sits down with industry leaders, top producers, and game-changing mortgage tech innovators, all sharing their unfiltered strategies, bold ideas, and proven secrets for success. Get ready to take notes, think bigger, and play to win, because this is Loan Officer Success Live. all right we're here and i've got an amazing guest today so get ready to think bigger thirty year vet in the industry uh coach mentor uh one of my personal mentors and uh owner of the wow training irene duford welcome to the show excited to have you here thank you devin it's an honor to be here Well, I got to tell you, I had a great opportunity to meet you out there in Orlando. Again, we just keep bumping into each other in all these great places. Neil's mastermind with the Ford mastermind, and Neil was at this one. And then MortgageCon, uh, What a great event that was, huh? Unbelievable. Unbelievable. I think we keep talking about it. I think the best part was not just the speakers, but it was that the speakers would speak and then come sit in the crowd and then answer questions, but also take notes from the other speakers, right? Yes. Where do you see that? You just don't see that, right? So we met there and then it was like, hey, we got to get you back on the show. And in addition to that, we had you over on the morning show the other day, the MLO live show with myself and Scotty Hudspeth. Yes, that was fun. It was fun. It was fun. Just, you know, I love the circles that we're in, the community that we were in, and I love being able to bring you on. and share all of your wisdom because you've been doing this on such a high level for so long and serving so many people and helping so many people. And that's why you're here today. So let's help some people. Yes, let's help some people. I'm excited. So one of the things that we talked about in this one is the mistakes that law officers are going to make in twenty twenty six. I know that's a big, big, big, bold statement. Right. But there are mistakes that people make. And my question is, what is your prediction? The biggest mistakes law officers are going to make in twenty six. I have seen so many loan officers make this mistake, and I think that this is the number one thing and it is. Are you ready? I'm ready. It's not having systems and processes in place so that when things go south, there's a way to handle it immediately. That's number one. That is the most important one. And then not having help, not having the right team to be there for you so that it's a flawless execution of those systems and processes. So that brings me to another question, which is a lot of the times wait too long to build the team. So why is that right? Like what's really stopping them? It's fear. It's fear of not having the money of being responsible for somebody else's income. What if I don't close the loans? What if it doesn't work out? What if I get the wrong person? What if they come on and they're not what they said they were? I'm not really good at hiring. You know, that's those are the things that go through their mind. But really, the first obstacle is money, right? I always like to tell people you're not paying their whole salary at the beginning. You're only going to pay for a month at a time. And so if they come on and they're not the right fit, then they can find a different place to work because they're not the right fit for you. And the main thing is you don't have to be worried about the money because by the time they come on in one or two months, if you're doing things right and you've hired the right person in that one or two months, they're going to be up and running. And now they're going to start helping you make more money because you can get out of the process and go get more loans and they can take care of everything and you will trust them. And it takes a little while to develop that trust and somebody can come in immediately and jump right in and you know you've hired the right person. But if you haven't, you need to let them go quicker and get someone in that does. Just because you hired one person that didn't work out or two people or three people, it doesn't mean the right person is not out there for you. Well, so what do we look for in that? Right. So we bring somebody in and, you know, again, like you said, the biggest motivating factor as to why we're not doing it is fear, you know, fear of, can I close the money? Fear of, can I support myself? Fear of, can I support this other individual? Right. Now we've, we've, we've taken the leap of faith. We're like, Hey, look, we've got to have it because the only way that we're going to get out of our own way and be able to grow our business is to hire somebody else to come in and assist with that. Right. So how do we know quickly? how to switch gears if it's not working out uh you would know because they're not getting the things done that they need to get done you can't throw them in and not give them any onboarding this is what a lot of loan officers do they'll bring them in they'll throw them at their desk they'll assume they know what they're doing and then they just leave them alone and they don't follow up with them they don't onboard them properly um i think when a loan partner comes on they should be listening to how you talk. Even if it's just recordings that they're listening to, they should be hearing how you talk, how you talk to people so that they can be an extension of you, because that's what they are. They're still gonna have their own voice. They're gonna still do things in their own manner, but they're gonna be able to use a lot of the same words that you do as a loan officer. And if you don't think they're the right fit, First, you have to ask yourself, did I bring them in the right way? Yeah. Because sometimes, you know, you don't bring them in the right way. You take off for vacation the week they start or whatever. And then you have to just say it's a probationary thing for ninety days, right? They're going to. Yeah. And talk with them. Well, I think what you're talking about, Irene, is process. And unfortunately, this is an Achilles heel for a lot of originators. And I don't care what year it is. It's an Achilles heel to understand a process and focus on that. I had the pleasure of reading the book Traction. I can't necessarily say it was a pleasure because it's not the most enjoyable book to read, right? Right. However, what it does do is it helps you identify why it's so important. important to come up with your core values and define a process that's clearly written so that the people that work with you and after you understand what they're supposed to be doing, how they're supposed to be doing, why they're supposed to be doing. And effectively, you know, it allows for you to build that traction inside of your business. But that's not what most originators do or know. And what's funny is I feel like a lot of us already have processes. We just have never sat down to express them and say, this is the process. That's it. Yes. And is it clear? Is it defined? Is it very clear who does what? So I always like to give the formula. What is the task? Who's responsible for it? What is the deadline once they receive the task that they're supposed to get it done in? And what's the follow-up date? Because if they don't have a follow-up date, that's when things fall through the cracks. It's not going to happen. It's going to happen never. So defining a clear process so that you can transition that to the people that you bring into your team is super important. But there's also, this is a great part of this discussion, this is actually where you come in Because you've developed this amazing training, the WOW training, and I'm going to run it across the bottom of the screen called lone team training or WOW training that helps the one officer define a process and transition their teams to understanding what that process is. So talk a little bit about that. What is the lone team training and what is the WOW aspect of it? So the WOW training is specifically for the support staff of loan officers so that they're hearing from trainers. My team and I train them. And they're hearing from trainers that have been in the trenches, that are in the trenches. And we know exactly... What needs to happen in order to deliver a wow experience, but they're hearing it instead of from the loan officer they're hearing it from trainers that have been through it, and we're teaching them all the things about communication we're not it's not a mortgage training class. It is a live event. With audio and visual, everybody has to have video and audio, and it's very interactive. And we're talking about mindset. We're talking about teamwork, about supporting your loan officer, the habits to have to be a better support to your loan officer, how to use checklists, how to make sure that they're Following a system and a process, how to communicate with people. That's a big, big deal. The words to use, words not to use. Scripting. I don't like to use the word scripting because it sounds so scripted, but how to talk to people, how to connect with people throughout the loan process. So they want to go with your team and never leave and send all their friends and family because they're going to say at the end, wow, that was an amazing experience. And that's why we called it WOW Training. There it is. There it is. So creating an amazing experience. And that goes back to what we were talking about a few minutes ago, which is defining a process. So when you have a process that actually amazes people, they want to come back again and again and again. And they want to invite their friends and they want to invite their family because they know that when they work with you and your team, this is what to expect. So let's talk about this. So what have you found is the first thing that typically breaks when an LO tries to scale without having support? They run out of time. They burn out because they're working very, very long hours. And we've all been there, right? We know what that's like. You're working such long hours that you get to a point where you can't even think straight anymore at a certain hour of the evening. That's true. That's the biggest thing. When they don't hire a team, they're doing too much. And then they stop going out and getting more loans because they're working on the loans that they have. proverbial roller coaster ride right now we've all seen this if you've been in the industry irene's thirty years in i've been doing this for a little over twenty four years at this point in time and it's consistently an issue where you have alone originators that ride a roller coaster so uh literally it's one month or one maybe zero right and then all of a sudden they hit six or seven and then they're back down to one or zero because what happens is They stop what they're doing and they go to nurture the loans, which they should, right? We've got to make sure that the clients that we have are closing and having great service, right? But then they have to go back to prospecting after the fact. And that next month is a goose egg, or like I said, one or two. And then it becomes this very stressful process. And what Irene's talking about is making sure that you're scaling by finding somebody earlier on when you start to see that spike in your production, when you're starting to go from two to three, right? And now all of a sudden, you can't do both prospecting and do the actual back-end support work. And ultimately, when is that? So what would you say? I think it's a magic number that a lot of people ask is, what is the number of loans when you start to get here, the number of leads? Because I think it's a combination of both. I'm seeing this many leads, which are converting this many loans, that defines this is when it's the right time to start talking about hiring somebody for that role. Yes, the leads really depends on the type of loans you do. The amount of closings also depends on the type of loans you do, whether, you know, the type matters a lot because some loans are much more complicated and you have to do it sooner. But typically I see between five and seven loans a month, they're maxed out. If they're trying to go get business at the same time, they're maxed out. And so they should, when they hit five closings a month, They should be beginning to look even at for loans, because just because you look for a loan partner doesn't mean you have to hire them right away. You can be looking for them because sometimes it does take a little while to find them. And you should be getting somebody that you really want on your team, not just settling for somebody just because they have some experience. That makes perfect sense. That makes perfect sense. So effectively. What's the leads that you typically see where somebody's about at that point, right? So, you know, it's five closed loans a month. This is where we really start to need the support. About how many leads is that, right? You know, it's different for everybody, but I would say between five and ten leads a week. That's right where I was at, by the way. That's why I asked. Right. And I was thinking somewhere between twenty five and fifty leads per month, depending on your conversion. Yes. And the quality of the lead. Where's it coming from? Right. Is it coming from a great agent that does a great job of providing you clients that they know are going to close? Right. Because some of the better agents understand more than some of the newer agents. Right. And it's not always the case, but that is what we've seen over the history. Or are you buying the leads? Right. And if you're buying different. That's it. Yeah. Because your conversion ratios on purchase leads are going to be substantially different. So what you're saying is, is probably twenty five relationally referred leads, right? Or five leads per week, somewhere in there or fifty if they're non-relationally referred or maybe not from a more qualified source. And this is where you start to look at your conversions. And it's really important to talk about conversions because you have to know what you're converting at so you can define, OK, I'm consistently seeing this much business come in. And based on my historical results, this is what I'm closing. And if I'm going to continue heading this direction, I'm going to be out of control and not have the ability to support myself. And now is the time to actually start to talk about hiring somebody. Yes. So when you're converting people, you should be converting. Fifty percent of the people that come in the door and fifty percent of those should go to close. I mean, yeah, fifty percent of those should go to closing. So you end up at a twenty five percent conversion ratio ratio. Some people are much higher than that. That's true. People are lower. But if you don't track, that's another thing is a lot of loan officers don't track their leads. They don't track their conversions. And so that's really important. That's what top producers do. You'll find every top producer tracks all of their, they know their numbers. Inside and out. Yes. Inside and out. Yeah. What we say that we did have an exception of that earlier this week on Tuesday, we had Ashley Bedford on it. She said, I closed two hundred and sixty two loans last year. I do a terrible job of tracking. But you know what she did say? And I think this is it. You know, she does have a loan partner. Right. But she said that when she qualifies a client up front for preapproval, she makes sure that T's are crossed and I's are dotted to the point where she's never had a loan that's fallen through. And so her reputation in the industry is so strong that Because agents know if she hands them a pre-approval, that loan's going to the closing table. There's no question about it. So I'm not saying that I condone not tracking the statistics. But I will say that having a commitment to putting together quality loans, that'll actually prevail a lot. And let's talk about that. So how does that work? So I'm a great loan officer. I think this is another place where a lot of loan officers have a hard time letting off the reins. I'm a great loan officer. I know my product inside and out. And I'm not... handing it off to somebody else because I don't want them to mess it up, right? Would you say that that's another one of those things that law officers struggle with is handing it off to somebody because they don't have that trust factor? Yes. To me, that says, number one, either they just have a problem with trust. Number two, they've had a bad experience before of handing it off. But are you talking about after they've qualified the client or before they've qualified the client? Well, I guess that depends, right? Because there's two schools of thought here, right? One of them is, hey, I can hire somebody that actually does the qualification for me, right? And the other is, I'll never let that go, but they can do everything else, right? Right. And both are right. It depends on what you want as a loan officer. And sometimes you make that transition to somebody else doing the loan consultations for you and qualifying them a little bit at a time. It's a transition. It's not overnight. That's right. And some people will hire a loan partner and then they'll say, I really want someone who's going to help me do the consultations. And so then they'll hire a different one or they'll decide that person is good enough to do it. Let's train them to do that. Or let's try them out. And it's transitioned. It's not overnight because that's what's scary is when it's overnight. Yeah. Here it all is. Here's everything I've worked so hard my entire career for. You're going to do this now and I'm just going to go find new business. That's it. Exactly. I have had a hard time letting that go. I had a really hard time letting that go. So I understand what it's like to feel that way. And my son, my youngest son, is a loan partner for a loan officer. And he was specifically hired to be the loan consultation person. So that the loan officer can go get more business and he can have freedom with his family and he can take vacations and still go get the business and bring it in. And my youngest son, Kenny, who trains with our WOW training, he is a trainer. He actually does that. He does that whole job description, but it wasn't overnight. He came on, he listened to his loan officer. He went through some of the stuff with him, wanted to make sure he understood what type of loans he did. And they took him on and it became a little bit of a transition and then he let him go and it was much easier. Now, does he still step back in when a realtor might call him with a lead and it was a realtor that he's known for, you know, Yeah, he does. He's working on it, but it's okay because they have a great relationship and the people know and trust his loan partner, Kenny. Let me ask you this. You know, what's the first part? Because again, you know, this is what you do. This is the nature of your side of the business now. What is the first thing that you do let go, right? So for most people, again, I think it's different for everybody. So I can't say this is it, right? But if you were a generator today and you were hiring a loan partner because you're at that threshold where I've got to have somebody here, what's the first part that you personally say is the easiest to let go of and transition over? I think it depends on how much business is coming in the door. But typically, I would say the first thing is once the contract comes in. Yeah. So the loan officer would take everything up to the contract. And then the contract, once the contract comes in, then it becomes the loan partner's responsibility. Yeah, so I'm going to tell you I have a little variance and a difference on how that works for me. You know, for me, what I like is, well, I feel like I can hand them off the application once it's taken. Yes. They can access credit, right? They can go in and update all the fees and get everything organized. Now, maybe I'm not ready for them to actually do the full prequalification yet. But if the application has been completed and they're doing a lot of the legwork to get that final prep to where it's ready for prequalification, I feel like that's where you start to get a little bit of breathing. What's your thoughts on that? I agree with you. That was the second way. I was going to say there's two ways. The first way is the one I mentioned at the beginning. And now the second way is exactly what you're talking about. You know what I like about the way that is, Devin, the way you do that is that they get to know your loan partner right from the beginning. So it's not a handoff. And I really like that. They get to know it right from the beginning. Yeah, it's an extension arm of your business. And there's a great way to present that. So now that we've got the application completed, I'm going to hand you over to Irene. And Irene's going to help us get all the T's crossed and all the I's dotted. So this is a live show, guys. all the I's dotted so that we can go ahead and get your loan pre-qualified. And then I'm going to take things back over. We'll do the consultation together. And then, you know, if there's anything else that's trailing, Irene's going to help you with that, right? Yes. I love that. That's my favorite one. And there's two different ones, like we said, but that one is my favorite one because then you don't, the loan officer doesn't feel like they're doing a handoff the same way that they do. If they're the only one they're talking to all the way through the contract, And then from the contract, it goes to someone else. That's the biggest holdup for a lot of loan officers is they don't want to hand off to someone else. That's right. Yeah. There's a fear factor there because the trust hasn't been built. Right. And as you and I both know, trust is built in small promises. And what are small cap promises? It's doing the right work the right way consistently over time. And eventually the promises are there. Right. And you know that you can rely on that person. And that's why I say I think that's the easiest place, in my opinion, to kind of let go of the reins because it's like, OK, well, they could pull credit. That's not hard. They can upload it into the origination software. I can teach them how to put fees into a system. And those things are tedious work that allow for me to go out and do other things while that's being done. But I still want to prequal, right? And I think that's okay up until a point. But this is where you get that opportunity to start to really train that partner how to do the prequalification the way that you want it done so that over time, eventually, they can even do that piece. And then you brought up a very valid point. And this is now when the contract comes in, who's our contract to close person, right? Because we've got a person that can help from application all the way to contract. But now as we start to really grow and develop the business, who do we have that can take it from contract to close? And then that's where you really start to build a team. Yes. That's the second person to do. And I'll tell you what, the loan partners or the loan officers that have loan partners that can do these things, they have so much time freed up. That's right. Some of them will go get business and some of them will just kind of kick back and then they'll wonder why their business is not growing. If you're going to hire a loan partner, you have two reasons for doing that. One is... You're going to go spend a lot of time with your family and take a lot of time off. And that's okay. If you're willing to give up some of your commission to do that, that's perfectly fine. The other way is if you want to grow, you want to grow your business and it won't happen unless you get out there and go get more loans and bring them in. That's it. That's it. Well, we talk about that, too. And I think that's a different broadcast for a different day. But, you know, that is something that's really important in twenty twenty six is being an educator. So, you know, going out there and actually building relationships, but building the relationships by education. Right. Helping your partners with things that you may already know how to do and just giving them some insight on, hey, let me do a training for your team. Let's come out. I'm going to walk you through how this works. Go out and train some of your loan programs. Hey, you know, by the way, I don't know if you know about this new product that exists, but I'd love to come out and teach you on these things. And that's what the loan partner gives you the freedom and flexibility to do, right? Is now you can actually go out and do these things, which are really going to help you build your brand, because that's what we want to do in this industry is build a brand and give people that confidence they can trust in you when they see you there, right? So let's say you're at that event with your agents and you're teaching this and they go, hey, I got a problem on a file. And you're like, oh, call Irene. She's at the office. She's got this covered. No problem at all. How can you be in two places at one time? This is how that starts to happen. Yes, absolutely. My team and I did educational training for real estate agents all throughout my time in the mortgage industry as an originator. That was my favorite thing to do. Go figure. That's what I do now, except I do it for loan officers and their teams instead of agents, but it's a great way to bring business in the door. It is. Well, and I would say, you know, in twenty twenty six, it might even be the best way, you know, because I've had the pleasure of interviewing a lot of really high profile originators, including yourself. You fall into that category. You may have retired that hat, but you've been there. Right. And what I see is these mega producers that are two hundred transactions plus a year, one hundred million in volume, more than more a year. They have loan partners. They have a contracted closed person and they're out educating the market. And, you know, a lot of people go, well, man, how are they doing that? You know, how do they keep up? You know, what's funny is if you look at their track records, what you tend to find is they have a hundred and fifty agents that are all giving them one or two loans. yes well how did you get a hundred and fifty agents all to one or two months well when you show up and you actually start to show people that you want to help educate their market and provide them a value and a service and you speak one to many not just one to one that's where you start to build a reputation for yourself and building a back-end team that allows for you to have the flexibility to go out and be that educator that public official that people can look to and go That person's an expert. I trust in them. It all starts with the loan, the loan partner, which is why if you're not getting yourself positioned in twenty twenty six to have a loan partner, that could be the biggest mistake that you're making your business right now. Yes. Yeah, I agree. Well, if you want to get some training for your loan partner that you now realize you have to have, you're going to have to have this person, you know, ultimately you can go over to loan training, loan team training dot com, loan team training dot com and check out Irene's program. So I'm actually a client. I've used Irene on multiple occasions for my processors and my loan officer assistants. to make sure that they get that wow training. And there's a reason why I've got her here featured on the show and why I keep having her come back because it is a great training. It will really help you. And this is one thing that I've learned, Irene, is that when we have people on our team, sometimes you get to that point where it's almost like a father-child type of situation where when you tell your kids how to do something, eventually they start to go and they don't listen, right? But for some reason, when their coach or their teacher told them, they're like, oh, man, you never believe what my coach told me today. And I'm like, I have been telling you that for three weeks. And you heard it from your coach one time. But you know what? People hear things when they want to hear it. And I think that's one of the things that's great about putting people through a program like Irene's is that if they go to that training and they hear something, maybe you've already told them ten times. But Irene's team talks about it and they go, man, I learned something from Irene today. And when that happens, don't get mad. Right. Don't get mad. Be excited that they adopted it and embraced it. Yes. I think it's a really fun time when I see somebody, a loan officer tells me, yeah, you told them this and they got it. And I've been telling them this for months and they finally got it. So I see what you're saying. Yeah. Absolutely. Well, if you guys want to find Irene, go over to Instagram and you can find her at It's Irene Duford. It's Irene Duford. And she's pretty easy to find. And make sure you follow her. Hit that follow button and check her out. Also, if you didn't know, Irene also has her own podcast. Yeah. You can find that on Spotify, Amazon, Apple Podcasts. She's all over the place. And that's Loan Officer Team Training with Irene Duford. So, you know, if you're loving what you're hearing from her today and you just want to get more, and I think you should, go over there and subscribe to that podcast. Find her and check her out because she's always out there and bringing in some great people who are teaching some amazing topics. You were talking about somebody the other day that was just talking about the power of speaking to yourself positively. And this is one of your mentors who you've had on the podcast a couple of different times. You want to talk on that real quick before we wrap up today? Yes. Dr. Shad Helmstetter that wrote the book, What to Say When You Talk to Yourself. That book changed my life and he became a mentor. And when I started coaching, I actually sent him an email and said, I'm going to start coaching and I'm going to implement a lot of what I've learned from you. I didn't think he'd respond, but he did. And I was amazed. One day I got a phone call and he said, I love what you're doing. Anything I can do to help you, let me know. And then when I started the training company and I started the podcast, same thing. I sent him an email hoping that he would respond. And he said, I'd love to be on your podcast. So he's been on twice now. That's awesome. He is a world-renowned self-talk expert. He was one of the founders of self-talk and getting it out there. And he started as a linguist. And so it's amazing what he shares with us. So thank you for bringing that up because I want people to hear more about him. I love that. I love that. Well, thank you for sharing that too. And that's a different podcast, but you should definitely go check her out and you should follow that particular one. Like that's a great one to go listen to because self-talk is so important. And, you know, maybe we get back on and we talk about that sometime, Irene. That was where our call went the other day on the MLO live show. And man, it was just fantastic. The responses we were getting from people were overwhelmingly amazing. By the way, Teresa's step is on and said amazing team training. And hey, thanks, Teresa. Great to see you out there tuning into the show today. We appreciate you. Thank you, Teresa. Yeah. Thank you, Teresa. And thank you guys. Thanks everybody for tuning in today. Go over there and follow Irene at it's Irene Duford. And you know, again, Irene, I'm going to close with this. If somebody's listening right now and they know they need to build this right away, where do they start? They start with a loan partner. They start with a loan partner and they can reach out to us if they want to do a discovery call to see what is the best training or how can I help them with that? I like it. And that would be to talktothetrainers.com. Talk to the trainers.com or just go to at loan team training.com and get registered. I'm sure you can probably find a way to connect with Irene right there. I think that's a great way to start the training. Once you fire that right person, fire the wrong one, we're going to hire the right one. that's the key hiring the right one so that's great thank you so much devin for having me on today i so appreciate what you're doing how you help loan officers and you just give back to the community every time i turn around you're giving back somewhere to the community and i just really i want people to know how important that is what a great uh mentor you are to so many people and i just really appreciate you Well, Irene's trying to get me to cry right here on the show. Pulling at the heartstrings. And it is Valentine's Day. So love you, Irene. That's right. Love you too. Love all you guys out there. Have a wonderful weekend. Keep coming back. I think we've got another podcast coming right around the corner today. Me and John Hinks, the mortgage giants. I think it's at one o'clock today. So come back over to the channel and check that one out. John and I are going to be talking about some myths. Do you go after new agents in twenty twenty six or do you focus on the whales myth or fact? Right. So come check that out and we will see you on the next one. Thank you so much, Irene. Thank you. Yeah. Everybody have a great day. You've been watching Loan Officer Success Live, where real strategies meet real success. Don't forget to subscribe now and share it with your teammates and keep leveling up because your next breakthrough starts here. If this fired you up, don't just watch success. Go out there and build it.