[Alice] Today we are not going to have Allen. Allen is gone for the day. Our next segment, we’re going to move into you, Marc. If you’ve got anything you want to talk about loan servicing and the agencies.
[Marc] The biggest concern I have about the marketplace now is the capacity for genuine commitments in the country. And, we got so many changes that are happening with the right now and not really understanding who’s on 1st and what’s going to happen. We don’t need to have anything come out of the political side that kind of screws up the operations of the things that support our industry. And that’s what my concern is right now because we got appointments that have to happen. People have to learn the business and we got the streamlining. It might happen and so far we haven’t had a lot of major focus on our industry in the agencies that support us, but that don’t mean we can’t. And that concerns me too. I think. Okay. With musk, everything is in his organization. He has now everything is fair game. So I’m a little bit concerned about that, but as long as we don’t mess with our industry, it stops us from supporting the applications when they do start coming back in the door at the volume. We hope they’re going to do and we get decent rates to help that happen. That’s my biggest concern. I have right now.
[Alice] Yeah, we’ve just seen that our new Secretary Turner over HUD has set up his own doge for HUD. And I think we’ve just got to be watching to see what’s going to be the impact there for the Department of Health.
[Marc] Yeah, let me give you an example of something. Let me talk about Ginnie Mae just a minute. Ginnie Mae’s staff has not increased majorly over years, and their answer to not increasing staff was to spend more money by hiring contractors due to work, or their work being done internal to Ginnie Mae. So you’re not going to tell me that the accounting firm that they’re using to support us on Ginnie Mae approvals and other things is not more expensive than it would cost to have people internally do it. It’s got to be. There’s no doubt in my mind about that. So the problem is that organization looks lean and mean at Ginnie Mae, But is it really because you got to look to the bottom line, not how many employees I got and what the cost to perform the business per pool, per loan, per whatever you use as a measurement and I don’t know what their key indicators internally, but they could be having a lot of and that’s the biggest concern I have. is if we see it, particularly at Ginnie and FHA, if we see a lot of movement in reducing people and more movement on contractors, we probably have a slower process, which I believe Ginni may spend, and certainly a much more expensive process as it goes down the road.