Altisource Asset Management Corporation (AMEX:AAMC) Q4 2022 Earnings Call Transcript

Like for us to go out and just go hard and turn it on, we could cause some production problems. So we’re trying to log into it. With that being said, with one Counterparty, we have 15 million submissions. We have another five to eight that we’re going to turn live on in next two weeks. So we feel very good, that over the next three months, our wholesale or wholesale production is going to ramp quickly. Okay. And then finally, we’ve done a lot of work around the broker channel. And we haven’t turned that on yet. And we haven’t started marketing directly to brokers in our space. Brokers are a very important part of the business. And we’ve incidentally work with brokers. But frankly, we haven’t started to focus our marketing towards them, which we plan on doing over the next three to four weeks.

And that’s a third channel that we expect to see material volume coming in from origination. So, if we’re sitting at 50 million to 60 million directed borrower 15 million from a weeks, that one week being turned on any week, I’d say that’s from like, three days. I think you can extrapolate the ramp should be pretty strong over the next 30 or next three months with our business.

Jeffrey Moore: Yes, I mean, it sounds like you’ll probably be able to hit your since your $600 million goal this year and like on a run rate just absolutely destroy that. So given that when should we expect profitability for the company?

Jason Kopcak: Yes, look, I mean at the end of the day, I provided metrics, some framework to how we’re looking at the cost infrastructure and the revenue side of it. I’m as eager as anybody is to turn a profit. I think it’s most important for us to focus on our production as you your first question is around our production. So I’m very focused on getting all three channels live. I don’t want to give a forward statement. But my interest is why align with shareholders getting it. We’re looking to get in profit on a monthly basis as soon as possible. I don’t think it’s going to be terribly far.

Jeffrey Moore: Okay, so, so given the huge amount of loans that are not only coming your way, but seem to be once you kind of turn on the, the wholesale channel a little bit more and whatnot, and the broker channel. How are you going to be able to underwrite like all those loans that seems like a lot.

Jason Kopcak: So if we were pretty staff, we’re staffed pretty well. We added a fair amount of staffing in September, October, November over in Bangalore. We have a great team there. So we can easily absorb and probably triple what we have right now. We, we’ll have to add a couple processors or more processors, but frankly, we feel good that our current team can handle up towards 100 million 150 million a month, in the standard, maybe adding one processor. But there’s a lot of there’s a lot of slack out there and talent between Bangalore and here that we could hire pretty easily. So we’ve already we’ve been out looking at what’s out there supply late of labor, and we feel very good that if we needed if the demand there, we can have the people on the challenge to process the loans. That’s not a concern of ours.

Jeffrey Moore: Okay. And then what, what, what are the operating processes and stuff like for that? Like, what are some of the differences with having a really remote workforce? And how does that kind of play into you, and just how you guys are going about operating with the loan origination and whatnot?