ms. maggiano: i can help by putting the pandemic going on vacation. [laughter] >> normalization. ms. maggiano: when we talked about centech, the basic core processing systems used in this industry are really fabulous. they are ancient, but they really work. they do it they are supposed to do. they process the account for millions and millions of payments. where we have seen the disconnect is in the special servicing, the default servicing. they were never designed to do that. they are bit core processing systems. as we go out into supervisory work we see that servicers have tried to compensate throughout the entire crisis. goodness knows there were patches in patches and homemade programs and off-the-shelf programs. they just don't work very effectively with each other. we also are surprised. part of it was that everyone was moving too fast. this ready, fire, aim. now we do have an opportunity in the industry for some interesting centech folks to come up. the space is available in default servicing, escrow servicing. those kinds of functions that are much higher touch with consumers.

ms. maggiano: i can help by putting the pandemic going on vacation. [laughter] >> normalization. ms. maggiano: when we talked about centech, the basic core processing systems used in this industry are really fabulous. they are ancient, but they really work. they do it they are supposed to do. they process the account for millions and millions of payments. where we have seen the disconnect is in the special servicing, the default servicing. they were never designed to do that. they are bit core processing systems. as we go out into supervisory work we see that servicers have tried to compensate throughout the entire crisis. goodness knows there were patches in patches and homemade programs and off-the-shelf programs. they just don't work very effectively with each other. we also are surprised. part of it was that everyone was moving too fast. this ready, fire, aim. now we do have an opportunity in the industry for some interesting centech folks to come up. the space is available in default servicing, escrow servicing. those kinds of functions that are much higher touch with consumers.