A Mortgage Tech Sales Pitch Gone Wrong 😧

Here's a useful tip for anyone selling mortgage technology: Before you trash-talk a competitor to a prospective customer, make absolutely sure that customer isn't owned by your competitor's CEO.

An nCino sales rep apparently learned that lesson the hard way. The rep sent an email criticizing BIG POS, a competing mortgage point-of-sale platform, to a lender that just happened to be owned by Matthew VanFossen, BIG POS's CEO. I’ve got details in today’s edition of The Mortgage Scoop.

Also in today's Scoop: I spoke w/ a former Movement Mortgage employee who's navigating a rather unforgiving job market. We've got actual openings & introductions to offer, too. Plus, FICO delivered another monster quarter but has investors scratching their heads over its ‘27 pricing plans. Let’s get into it!

I've heard from a lot of people who've lost their jobs in mortgage lately. The green LinkedIn banners are everywhere. Processors, underwriters, tech employees, analysts. It sucks. Can we do something about it?

I recently spoke w/ Nathalie Figueroa, an analytics engineer laid off from Movement Mortgage.

Nathalie joined Movement in January ‘25, building enterprise-wide dashboards for sales, marketing & finance, cleaning & modeling data, working on data governance & helping migrate systems to Databricks. Her skills include SQL, Domo & Databricks.

Exactly the sort of skills mortgage companies keep telling us they desperately need.

"My time in the mortgage industry was cut really short," she told me. "I thought I would be in mortgage for a lot longer."

For all the talk about AI & automation, somebody still needs to make sense of the underlying data, right? Nathalie is based in Charlotte & would prefer to stay there or work remotely, though she's open to relocating.

If you're looking for someone w/ her background, email me at [email protected]. I'm happy to make an introduction.

I also connected w/ James Zeldin at MTG Services, whose recruiting business has been working on a range of openings across mortgage originations, servicing, operations & finance. Here's a sample of the positions his team has been recruiting for:

If one of those sounds like a fit, reach out. I can help connect qualified candidates w/ the right people. Individual openings are subject to availability. You can also contact James Zeldin directly on LinkedIn.

Obviously this doesn't solve the industry's employment problems. But mortgage is a relationship business, so if we can use relationships to get a few talented people back to work, I’m here to help. If you have jobs to fill, please email me at [email protected].

The mortgage technology business is a knife fight these days. 🗡️Lenders are looking to cut costs, vendors are desperate to win market share & just about everyone is trying to convince customers that their technology can do more for less.

Which brings us to a rather entertaining sales pitch involving nCino & Mortgage Automation Technologies (MAT), the company behind BIG POS.

An nCino sales representative recently emailed a lender w/ a pitch aimed at replacing BIG POS. The outreach included criticisms of the competing platform & arguments for why the lender might be better served by nCino.

There’s nothing particularly unusual about that, except the recipient wasn't just another BIG POS customer. The lender—Mortgage Equity Partners— is owned by Absolute Home Loans’s Matthew VanFossen, who also happens to be the CEO of the company that makes BIG POS.

What did nCino say after its sales pitch blew up in its face? And why is FICO keeping Wall Street in the dark about its ‘27 pricing?

Become a Mortgage Scoop Insider for the receipts, the industry intel & the answers you won't find in a press release. 👀