ConsumerFi Podcast: The Importance of Portfolio Protection with State National's Mark Baltuska
Joel is joined by State National’s Vice President of Finance Company Markets, Mark Baltuska, to talk about how big and small companies alike use State National’s innovative product to mitigate loses from uninsured drivers, how the CPI industry has evolved to taking the burden off the lenders, and how current market forces are making these products even more attractive as used car prices rise.
You can meet Joel in person at the AFSA Independents Conference and Expo this May 24th-27th in Ft. Lauderdale, Florida or the National Automotive Finance Association’s 25th Annual Non-Prime Auto Financing Conference this August 30 – September 1, 2021 in Plano, Texas. Register today!
ConsumerFi is presented by Nortridge Software: Loan Software That Accelerates Change.
And special thanks to The National Automotive Finance Association: The only trade association exclusively serving the nonprime auto finance industry.
[00:00:00] Joel Kennedy: [00:00:00] You’re listening to the ConsumerFi podcast powered by Nortridge ,loan software that accelerates dream
[00:00:20] Everybody, another exciting episode of the ConsumerFi podcast. I am pleased to be joined by Mark Baltuska. That is a, what kind of name is bell to stow mark?
[00:00:32] Mark Baltuska: [00:00:32] That sounds ,it is tough. It’s Baltuska, lithuanian of all things.
[00:00:40] Joel Kennedy: [00:00:40] Okay. I knew you were somewhere, somewhere in the Slavic, Slavic- ish areas. My, my mom, my mom’s family is from Croatia. So everybody’s name ends in an IC. You have no choice.
[00:00:53] Mark Baltuska: [00:00:53] We got a lot to talk about, so we definitely do a lot of the Croatian stuff around, uh, around our place.
[00:01:00] [00:00:59] During, uh, Christmas and holidays
[00:01:02] Joel Kennedy: [00:01:02] given it. So if it comes across your, your transom, I don’t even know what it would look like if you send it to me. But I think it’s some kind of delicacy anyway, all, all jokes aside marks with state national. And, uh, we, we, we bumped into each other last week at a California financial services association event, which was a real pleasure bucolic environment out there.
[00:01:23] Newport beach, all outside. I got to tell you, mark. Everybody was so happy to be. Back outside and kind, kinda mixing it up.
[00:01:32] There were, uh, there were a lot of smiling faces, including including wine. So it was nice.
[00:01:37] Yeah. So I had to push her to meet mark and team, and I I’ve seen the name state national, but honestly I’ve been out of the game a little bit on the lending and operations side.
[00:01:47] So I. I asked mark to kind of fill me in, on, on what they do. And I have some experience with what they do. It used to be called a CPI. I think, I think there’s, you know, mark mark would, would be [00:02:00] calling it portfolio protection, but, um, but that’s kind of the topic I want to talk about today because you know, maybe we start at the beginning mark, but you know, obviously want to know about you and your background to start.
[00:02:10] Maybe let’s do that. And then, and then we can dive into some of the, the history of how, how this product came through time. Sure. No,
[00:02:19] Mark Baltuska: [00:02:19] I, um, uh, as you can see, probably behind me, uh, I’m a Kansas city Royals fan. I live here in Kansas city. Uh, uh, have been with, with state national for shoot almost a dozen years now, state national has been around for almost 50 years.
[00:02:34] We’ve primarily we’re working in the credit union market for a lot of those years, but recently we were in the last couple of years, I guess. We made more of a, uh, an effort in the, in the finance company space. And we’ve been very successful with that. And we’ve come up with definitely some different products and, and, uh, programs that fit in that sub-prime space, really, particularly for those, [00:03:00] for those subprime
[00:03:00] Joel Kennedy: [00:03:00] lenders.
[00:03:01] So let’s, let’s, let’s peel that back a little bit. So w when I hear portfolio protection, you know, what does that really mean? Like, just in terms of a basic deficit?
[00:03:12] Mark Baltuska: [00:03:12] Sure. Well, you know, there’s people go out there and they get their loan from whatever finance company that they work with. And, you know, part of their loan agreement states that you need to have full coverage insurance throughout the term of the contract.
[00:03:25] What our company specializes in is really two things tracking. And insurance. So CPI, you need to track the insurance to make sure that that borrower keeps the insurance that they said they would keep. And if they don’t, then we, you know, then we need to CPI works where you notice the borrower and you definitely different ways of doing that.
[00:03:48] We’ll talk about that. And then if they, you know, ignore the notices or don’t do it, then of course, you know, our, our primary responsibilities to the lender and we’re going to place insurance. Um, [00:04:00] on that borrower and then it would be a borrower funded program or the lender would then collect it from the borrower.
[00:04:05] So keeping, uh, keeping the lender protected, it does have borrower options to it where, you know, they get some, you know,
[00:04:13] Joel Kennedy: [00:04:13] absolutely. Absolutely. They go crash the whip with no insurance, you know, that’s going to, they’re going to see it on their deficiency balance.
[00:04:21] Mark Baltuska: [00:04:21] Oh, yeah. Oh, for sure. So, so basically, you know, we’re, we’re in the CPI or portfolio protection.
[00:04:28] However you want to say it, you know, we’re in the business of mitigating risks. That’s what we do for our lenders
[00:04:32] Joel Kennedy: [00:04:32] period. You know, what type of lenders, you know, really see a great deal of value out of this. I can think of a, you know, a startup lender. Somebody that doesn’t have a, that just can’t handle, you know, those losses, maybe somebody who’s transitional between two and 25 million portfolio size.
[00:04:48] And then the large guys, like there’s two populations, the folks that use it a lot, the folks that like it, or the folks that in, in your mind, Hey, this fits in really well. You should be using it. You’ve
[00:04:58] Mark Baltuska: [00:04:58] probably got, you know, nearly [00:05:00] 700 clients throughout the country. And, you know, there are a ton of them that, you know, that are smaller lenders, whether it’s a finance company or a credit union or banks, you know, they don’t want to see those hits, you know, when they have an uninsured loss.
[00:05:15] You know, they feel it more than maybe the bigger guys do overall, if you, if you look at the national average, the uninsured is about 12% or so, but when you,
[00:05:27] Joel Kennedy: [00:05:27] is that, is that the entire market or is that just for like non-prime or deep sub prime? Like what, what is that?
[00:05:33] Mark Baltuska: [00:05:33] So that’s the entire market. When you start looking at subprime, you’re looking upwards of 30, 40 even higher percentage.
[00:05:41] And so depending on how. Depending on how deep you go know if you look at like a buy here, pay here type, you know, they’re going to be up there at 60% of the insured. If you go more towards a, you know, a medium sized lender that, that, uh, is definitely subprime. Uh, they’re going to be more, they’re going to be more in that, uh, [00:06:00] you know, 20 to 35%, depending on if there’s a
[00:06:03] Joel Kennedy: [00:06:03] program or not.
[00:06:04] You guys ever capture the uninsured population. Like, so we talked, you know, 30 to 40% non-prime and let’s say I’m a, I’m a lender and this is specific to California. Cause we met last week at the California event. So I happen to know because a friend of mine is a personal injury attorney and does automotive claims.
[00:06:24] He said, he told me that Southern California has a very high. Percentage of uninsured motorist driving around. So here’s the scenario. I’m a lender and I’ve loaned money out to somebody they’re driving their car down here in Southern California and another uninsured motorist. Crashes into them. Right.
[00:06:44] It’s their fault. We would normally hit their insurance policy, but they’re uninsured. So there’s nothing to hit. So I, as the lender would normally go against them, but am I able to use the CPI to cover myself in a scenario like that? Right. If you’ve
[00:06:58] Mark Baltuska: [00:06:58] got a guy that [00:07:00] slams into you, Okay. So you’re the guy that doesn’t have insurance either.
[00:07:03] So nobody’s got insurance here and if there’s a CPI policy in place, or one of our programs, whether it’s CPI or portfolio protection, then yes, absolutely. Then, then the lender would be able to file a claim. There’s and it’s a lot like your own insurance, I guess. You know, there’s different, different levels of protection, you know, that you can have the biggest thing with lenders that I see are really three things.
[00:07:27] They want the insurance portfolio protection insurance to be affordable to the borrower. It needs to be collectible by the lender. And it, they want it to provide, you know, a decent level of risk mitigation. And you can certainly with today’s portfolio protection, you can certainly hit all three. You can absolutely check each, each check mark.
[00:07:50] And it’s almost like the programs that we build for lenders. It’s not a one size fits all. You know, you asked who, who, who is in this, you know, is it the little guy, the [00:08:00] big guy and all that? The answer is yes. It’s all of them, some of the, some of the very larger ones, some of the captives they’ll get into it from time to time.
[00:08:09] They’ll maybe segment their, uh, their portfolio. Do it that way. A lot of the big banks, they’re big banks. They’ve got lots of money and, and they’ll accept. They’ll accept a lot of those losses, but primarily if you know, a couple of billion dollars polio would be on the higher end, probably in the middle would be.
[00:08:31] You’re, you know, we got plenty of plenty of lenders that are in that $25 million range, but know a hundred, 300 million right in there. It’s kind of the sweet spot. It seems.
[00:08:42] Joel Kennedy: [00:08:42] Yeah. The thing that I like about it is the offset to the static pool. You’re not going to change anything relative to the unit losses, but you can change.
[00:08:49] You can bend the curve relative to the dollar losses, and that can be really meaningful when you need those static loss curves. To conform with a certain standard [00:09:00] in order to get you where you really want to go. And I’m thinking about getting lines of credit or, or, or something like that. You know, mark, in the past, we were talking about this.
[00:09:10] I, I wasn’t involved in CPI super-duper long ago, but we did have that in place with Pelican for a little while. And we were talking about just kind of where the market has moved and there’s been some innovations in all good things, including compliance. You know, in the past, maybe people there might be some confusion or, or, or, or maybe it was just tough times or we were still getting our bearings.
[00:09:33] Like there was a bit of a bad rap on it a while back, you know? W why was that? Because, like I said, I wasn’t really attuned to that, but the product has come a long way and it’s, it’s good to address that for folks who maybe had a bad taste in their mouth. I tried it and it didn’t work for me.
[00:09:48] Mark Baltuska: [00:09:48] Yeah, no, you’re right.
[00:09:50] It’s come a heck of a long way in the past. Twenty-five 20 years. It used to be very, uh, very manual. It would involve a lot of borrower, [00:10:00] friction, you know, a lot of staff time by the, by the lender. There’s, there’s so much that has been regulated. I mean, uh, you know, state national is. The tracker, but we’re also the insurance company.
[00:10:11] So when you talk about it, can I do this? Am I compliant and all that? Absolutely. You just got to make sure you’re partnering with the right company. The one that keeps you compliant, the one that’s following each state, reg regs and rules and all that kind of stuff. And, and in the past, I think it’s been people, people think, oh my God, it’s going to be really expensive.
[00:10:33] And you know, how am I going to do this? I’m as my bar, we’re going to afford it. Well, that’s changed too. It’s definitely come a long way in the, in the price regard, but really in the regard. Of how it’s, how it’s run, I guess, internally by us. And, and then externally with art, with our lenders. I mean, we never had, you know, 20 years ago there wasn’t automation where your loans or your contracts are [00:11:00] housed, you know?
[00:11:00] So, you know, companies like yours, Um, where we can automate processes of, of adding premium or taking off premium, you know, one of the benefits of a portfolio protection program that sometimes lenders don’t think of is you get protected really directly and indirectly. You’re going to have one that protection, obviously there’s insurance on now.
[00:11:19] Okay. So yeah, that’s there, but indirectly you’re tracking, we are sending notices to your borrowers and that’s going to make a change. They’re going to change behavior. It used to be where the old school was. We’re going to send them a letter to stick something in the mail. We sent them a letter or they won’t open it.
[00:11:41] And you know, and that’s what happens. Well today, You know, yes, we’re sending letters cause we have to their state regs and all that kind of stuff. You know, we’re filed by all departments of insurance, you know, in each state and all that kind of stuff. But we’re also, you know, in, in what’s called the notice cycle, that’s when someone drops their insurance [00:12:00] and from the time they dropped to the time that they’re placed, that’s a cycle in between.
[00:12:04] We’re sending out emails to those borrowers. We’re using text notifications to those borrowers, giving them really every opportunity. To respond and every different way they can
[00:12:15] Joel Kennedy: [00:12:15] respond. And, and that’s all happening out of your shop. That’s part of the service,
[00:12:19] Mark Baltuska: [00:12:19] right? So no longer are the lenders, the ones that are happened to, you know, oh gosh, I better collect all this insurance mail that’s come in.
[00:12:27] Yeah, no, that’s, that’s, that’s old stuff that disappears. We do that, you know, that’s our job. And the tracking comes with the program. You got the program, you get the tracking. So it works out
[00:12:37] Joel Kennedy: [00:12:37] very well. So you addressed one of the big questions that I had. So when we had engaged it, I think we’re probably talking, we were doing it during the days that you were saying they didn’t kind of have it all really figured out administration was a bit of a bear.
[00:12:52] And to hear that the administration can be done on, on your side is certainly a big deal. And then you mentioned some, a little bit with system [00:13:00] integration. And so are there any places that, that people tend to get hosed up on? I mean, the one that I’m thinking of is I got a notice. It said that the person is doesn’t have coverage.
[00:13:10] They’ve been they’ve lapsed. And so I placed the CPI and then the borrower calls me and says, why are you charging me for the CPI? Because I’ve. I did have coverage, the information that you got was wrong, or I resolved it, you know, like that next day. And so there’s just a data lag that to me was, was a bit of stickiness.
[00:13:28] Cause then I had to go and reverse billings and do this and that. Has there been anything that kind of smooth out that process or do we have like, you know, a better way to look at, you know, confirming that prior to placing the. The billing on the customer’s account to then have to reverse it. Right? Yeah.
[00:13:45] Mark Baltuska: [00:13:45] Great question. And, and that’s, that’s perfect because in short answers, yeah. There’s a lot has changed on that. So. In regards to insurance course. So we’re tracking. So if you, if you’ve got a tracker, you want to make sure they’re doing it right. [00:14:00] So, you know, over the past 20 years, you’ve got a couple of things.
[00:14:04] Electronic data interchange is EDI. A lot. Most of the insurance comes in that way, probably in subprime market, probably 60% would, would come in via EDI. The rest of it is done via snail mail because. A lot of the, you know, a lot of the companies, uh, the, the, I call them the higher risk insurance companies, the smaller ones, maybe they’re not subscribed to EDI and that data doesn’t transmit.
[00:14:29] So that’s why, you know, but they always shoot out insurance mail, and that’s why it comes directly to us, to a post office PO box based in, uh, in Dallas, Texas, we’re where our company’s located. And then you literally have people. Opening that mail updating that insurance in real time and getting squared away.
[00:14:47] And then you’ve got the use of bots. I mean, you know, AI has come such a long way, so we we’ve, we’ve got bots to go out and just ping insurance companies and, you know, cause if we showed [00:15:00] someone’s that insured. Okay. Most likely a lot of folks they’ve just switched. Or maybe they’re in the process of switching.
[00:15:06] The, the bots can go out and instead of us calling, sitting there just calling around insurance companies, they’ll hit a lot of that’s growing every day. Right now it’s probably eight top 10 insurance companies in the country. Now I realized that a lot of subprime doesn’t have subprime borrowers may not be with state farm.
[00:15:24] But there’ll be with may, maybe like the general or someone, someone like that. Those companies are actually coming into the stuff. You know, we, we can do whatever with any company. It’s what the other company can do. It’s like, it’s like automation with where your loans are housed. We’re only as good as the other company is, but anyway, but that’s come a long way too.
[00:15:44] And you give them all those different ways to, to respond. So, you know, you do do the notice you do do the techs should due to the, you know, the emails. And then you give them, how would you like to respond? You like to call us. Okay. Here’s the number would you like to email us? Which like be Texas, you send in a picture [00:16:00] of your, of your ID card.
[00:16:01] That’s great. And we’ll, we’ll update it because we don’t always know. And there are some that we don’t know if the borrower doesn’t respond to us. At some point, those, so those will happen, but not nearly to the extent that they used to
[00:16:15] Joel Kennedy: [00:16:15] that’s for sure. Gruff speaking, when you look at, take your, take an average run of the mill, let’s say w we pick 20, we’re picking on people that have a $25 million asset under management, you know, so a smaller company.
[00:16:27] They were not, they did not have a program such as this deployed. And I’m thinking specifically about the tracking plus the coverage for an average company, let’s say they walk in the door and they’ve got that 30 to 40% uninsured rate after applying this and giving it a little bit of time to bake. Are, are there some kind of general results?
[00:16:46] Like, Hey, we tend to see they pick up, you know, uh, they drop that uninsured by some percentage. I mean, is there some kind of general.
[00:16:55] Mark Baltuska: [00:16:55] Yeah. Yeah. Generally, you’re going to collect the insurance off bots are going to hit a certain [00:17:00] percentage. The outbound notifications will do some, the notifications basically we’ll knock it down about 20%, but it’s so depends on the lender.
[00:17:09] And, and like I said, it’s a buy here, pay here. That’s going to be probably a little bit different, but a typical subprime lender, you know, you’re going to have that indirect positive outcome because. That borrower that had been uninsured is now insured with what unquote good insurance. She’s the team that up with the, you know, with the portfolio protection program, you know, that, that a company like ours says, right.
[00:17:31] And you’re, you’re
[00:17:32] Joel Kennedy: [00:17:32] set up pretty good. I think this, that a program like this, you know, and I’m one of the folks I’ll, I’ll be honest. I’m one of the folks that used in the past, we were private equity funded. They had a great deal of knowledge, of a variety of insurance products and their, their point of view broadly on insurance in general was, you know, we can get better returns somewhere else.
[00:17:53] I mean, these were very sophisticated financial individuals and I’m sure they could do it. Right. These are guys that are that’s. Their [00:18:00] job is put money on turbo boost and make, make it cycle and just start making more and more and more and let the steam roller go. So I look at today and this is why I really wanted to have mark on.
[00:18:11] Generally speaking, I speak with a number of different folks in a number of different lending situations, small to large sea level, down to the frontline and look. Collateral values right now in the wholesale market are on the moon. And if I want to be competitive and buy, you know, this, this used piece of collateral that I bought through wholesale six months ago has actually appreciated.
[00:18:36] And we’re seeing this. So what does that mean? As I have to advance more, I have to go higher on potentially higher on LTV, but if the values are moving then great. But I, you know, I don’t know that the values move. That instantly. So I’m over advancing. The point I’m getting at is I may have the same unit loss that I was having before, but because I’m paying so much more for these vehicles, I may [00:19:00] run into a huge severity issue where my loss severity just really kicks up.
[00:19:05] And I view something like this as a hedge. Because I get asked by a lot of lenders, Hey, I’m having to compete. I’m obviously doing well when I have to liquidate my, my repossessed collateral, but for the new guys that I’m buying, I’m concerned because I’m paying a premium now, but we’re going to come down off of this moon.
[00:19:24] At some point and I want to make sure that I’m covered because that piece of collateral is just not going to garner. It’s not going to keep appreciating. Obviously, obviously we can’t keep doing that, but stuff like this as a way for people to, to wrap their head around a hedge for dealing with it, this issue, I mean, is this something that you have been hearing from folks and.
[00:19:48] They have a concern with, cause I know you were talking about the credit unions, but it sounds like the, the traditional, you know, fin CO’s, et cetera, are, are really kind of wake that, not waking up, but, but you know, embracing, embracing [00:20:00] this product,
[00:20:01] Mark Baltuska: [00:20:01] you know, they really are that they are embracing it. And, but, and you know why now is actually, if you’ve thought about.
[00:20:10] Looking at a portfolio protection program, whether it be CPI or something of that nature. Um, now is a great time to do that because delinquencies are low. Um, you know, repossessions are down, but it’s not gonna stay like that forever. I mean, we’re in a very different time right now, and
[00:20:32] Joel Kennedy: [00:20:32] this is a power move.
[00:20:33] This is a power move, right. If I do it, if I do it while I’m bleeding. Then, if I were a state national, I am putting words in your mouth. I might, I might operate with a little bit more skepticism. I’d be like, okay, well, you know, there might be some issues in their operations there versus when you do it, when the times are good, you can get your, you can get your process laid out.
[00:20:53] You’re not desperate. You’re not operating out of fear. Right? So now I’m operating out of power position and look, [00:21:00] this is only hitting the people that need the help as far as I’m concerned. And if the administration is handled really well, And it’s not providing a great deal of overhead to your organization.
[00:21:09] I say, you know, why not? And, and like you said, you don’t have to apply it to everybody. I mean, if you can apply it to certain geographies or certain credit tiers or, or, or what have you, you know, that, that to me is a meaningful exercise to kind of look into at least to evaluate, right? Oh, no, you
[00:21:25] Mark Baltuska: [00:21:25] can certainly, yeah.
[00:21:25] You can segment these things to, to really focus in on, on, on maybe where. The higher risk is depending on the size of the portfolio and everything, but you know, probably the number, one thing that, uh, that I get from, well, two things from lenders is they want to make sure it’s compliant. Yes. We’ve checked that box and we’ll show you, and we indemnify you for everything that we’re doing.
[00:21:47] Insurance-related and all that kind of stuff, to make sure that, you know, the program is good, that notices are, you know, compliant, all that kind of stuff, but they want to make sure they’re like, look, we don’t want to. They’re thinking in the old days cool mentality. [00:22:00] Oh my God. It was really expensive and all that.
[00:22:02] It’s not that way anymore. It have to be, it’s almost like my borrower said they keep insurance. I want to protect myself, but I don’t want to cause unneeded delinquency or repossession. So I think my borrower can afford a certain amount. Is it 30 bucks a month? Is it an extra, you know, $50 a month? We can work with you to crash.
[00:22:25] Specific programs that will hit the risk level, that, that you want to hit as a lender. And we’ll tell you what that is. You know, if, if you hit that number and you say, I think, you know, 50 bucks is the number mark. Okay. This is what it can mean to you. This is the risk that we can mitigate with that number.
[00:22:44] And you’d be surprised. You’d also be surprised with it, with the folks that, especially in the stuff in the subprime world, they, they appreciate it. They’re like, okay. So you’re telling me that if I wrap this [00:23:00] car around a pole that I’m covered now, because it’s not liability, I understand that. So you get pulled over by a police officer and say, well, here’s my CPI card, and yet it’s not going to work, but.
[00:23:11] But you’re giving me, you’re telling me that I’m covered now. And you’re not going to come after me. I’m uninsured. I wrecked the vehicle and all of a sudden I can’t drive it to work anymore. Normally I always say, Hey, your borrower calls you up and says, come get it. And while they probably never call, but you know, so the lender’s not going to be faced with that.
[00:23:31] The borrower’s going to be, you know, have the satisfaction in knowing, Hey, I’m covered. Heck the way we paid total loss claims is in ADA, clean retail. So you’re getting it. You’re getting a good number. So that’s, that’s the advantage of working directly with the insurance company?
[00:23:47] Joel Kennedy: [00:23:47] I love it, mark. This is great.
[00:23:49] I saw you out live and direct it in Newport beach last week. Are you guys going to be out and about at some of the other industry events? And if so, maybe, maybe give us a signal or what’s the next one you [00:24:00] think you’ll be at? Here’s your signal next
[00:24:01] Mark Baltuska: [00:24:01] week? Next week is app stuff. Absolute independence, Lauderdale Fort Lauderdale.
[00:24:10] Joel Kennedy: [00:24:10] Are you attending
[00:24:15] Mark Baltuska: [00:24:15] booth? Come look for me. We’ll be there. We’ll be at the Fs. The auto finance risk summit will be there. And I think I just got an email on that, uh, yesterday or today. Okay. Uh, just saying, Hey, live and in person and, uh, in Vegas then I can’t
[00:24:29] Joel Kennedy: [00:24:29] wait to get back there. Okay. Oh, nice. Yeah. That’s a drive for me. I mean, it’s a long drive, but I’ve done it.
[00:24:35] Yeah. I might need to go to that. I’ll be at apps the next week as well. So, uh, we’ll get it. And then mark, um, if folks are listening to this, maybe they’re not going to app. So if you’re going to apps, uh, say hi to mark he’s he’s, he’s not, he’s not scary. Okay. We need to stop being scared of vendors and running away and just realize, you know, there’s people like.
[00:24:53] We just want to help, you know, that’s it. And if you don’t want it, then that’s fine. We’ll, we’ll share a drink and have a laugh, [00:25:00] you know, but, uh, mark, if people, maybe they’re not going to Absa, uh, they want to get ahold of you. What’s a good way to get ahold of you or someone on your team to see if this product for them.
[00:25:11] Mark Baltuska: [00:25:11] Yeah, you can always go to our email@example.com and click on lender services. And, uh, you can always get in that way. You can, you can, you can reach me on my cell (817) 727-7316. Uh, or, uh, you know, you’re going to have a hard time spelling, bell Tesco, but
[00:25:35] Joel Kennedy: [00:25:35] I love it. Yeah. I love the cell phone thing, man. I, I, I put mine all over every article I write or on my LinkedIn, you know, I get hit up with, with solicitations, but you know, the thing is, is like, I want people to be able to get ahold of me if they need me. So yeah,
[00:25:52] Mark Baltuska: [00:25:52] yeah. Go to LinkedIn on LinkedIn, go there.
[00:25:54] Shoot me a message. And we’ll connect. That’d be great. I’ll
[00:25:57] Joel Kennedy: [00:25:57] spell it. It’s M B a L T U [00:26:00] S K a at.
[00:26:03] Mark Baltuska: [00:26:03] National
[00:26:04] Joel Kennedy: [00:26:04] state national.com. Mark, I’m looking forward to seeing you next week. Uh, folks, if you’re going to ask, so please swing by, let mark know, you know, you’re a Kansas city Royals fan too, or maybe you hate him, you know, he can take, he can take a little ribbing.
[00:26:18] He is he’s he’s.
[00:26:22] Mark Baltuska: [00:26:22] I think back there in the red there’s my chiefs, um,
[00:26:29] named pat my homes. I don’t know if anybody’s ever heard of him or not, but he’s pretty good. He’s never heard of him
[00:26:34] Joel Kennedy: [00:26:34] breaking up.
[00:26:38] Thanks so much for being on the pod today.
[00:26:41] Mark Baltuska: [00:26:41] Thank you. Thanks for having me. It was great. I appreciate it. The
[00:26:44] Joel Kennedy: [00:26:44] consumer fi podcast has been brought to you by Northbridge loan software. That accelerates change. We’d also like to thank the national automotive. Finance association, the only trade association, exclusively serving the non-prime auto financing industry. [00:27:00]