CFPB FinEx Webinar-Owning A Home November 12, 2015 1:00 pm CT Welcome and thank you for standing by. All participants will be in listen-only mode until the question and answer session. At that time, please press Star followed by the Number 1 to ask a question. Today's conference is being recorded. If you have any objections, you may disconnect at this time. I'd now like to turn the meeting over to Irene Skricki. You may begin. Great. Thank you very much, and welcome everybody to our CFPB Finance Education Exchange Webinar. Today our topic is on owning and home, and some of the new tools the Bureau has related to the new mortgage disclosure that just became effective about a month ago. I'm very excited to have our guest speaker here today from Mortgage Markets to talk about that. For those of you who aren't familiar with FinEx, I'll just do a couple bits of overview to begin with. First, we always do our standard disclaimer that this is not intended to be legal guidance of any kind, and the views are ours and not the Bureau's. Most of you know, but in case anyone doesn't, the CFPB is the newest federal agency in town, responsible for making consumer finance markets work by making rules more effective, enforcing those rules, and empowering consumers to take more control over their economic lives; and we do that both through educating consumers, through enforcing and supervising financial service providers, and through studying and better understanding both the markets and consumers and their experiences. And just a note that FinEx is run by the Office of Financial Education at the CFPB, which is part of the consumer-facing side of the Bureau of Consumer Education and Engagement. We work closely with the other offices within that division to help consumers of all types with their financial issues. So the CFPB Financial Education Exchange, I know some of you on the phone are already part of this and have been participating for a while. But I know we also have a group of new folks -- I think a lot -- who learned about this through the HUD Housing Council list serve, so welcome to all of you. Just so you know, FinEx is sort of an information channel where the Bureau shares our tools and resources for financial educators, and we also get feedback and input from all of you through surveys and online discussions and other things. So for those of you who just joined this Webinar for owning a home, I would encourage you - I'd be really thrilled if you would sign up for FinEx. You'll get a regular newsletter; more Webinars like this, regularly on a monthly basis; and other features. To do so, to sign up, you just have to email the same email address you emailed to RSVP for this Webinar, CFPB_FINEX@CFPB.gov, and we will sign you up for that. I just want to make a plug, as I do every Webinar, for our resource inventory for financial educators, where you will see all of the tools and resources the Bureau has, both research as well as practical, actionable tools you can use in your practice. You can find it on our Adult Financial Education page at consumerfinance.gov/adult-financial-education. It's not catchy, but that's the URL for now. And you can see that resource inventory online. And also I always encourage everyone to join our financial education discussion group on LinkedIn. I moderate that group, and it's a place where the Bureau puts its new resources up, but also where you can post your own resources, questions, things like that. And we've had a lot of great posts from organizations with other resources or new reports coming out. So I encourage everyone to join that, and you can find all that on that Adult Financial Education page. So now I think we are up to the content part. So before we dive into that, I will just make a quick note that right now you're all muted. If you have any questions as Megan is talking, for those of you who are on the Webinar portion of this, the online portion, there is a little Q&A box at the top of your screen, where you can type a question if you have sort of a clarifying question or want to tee up a question for the end. And I will monitor those as we go. Then we will open for questions via the phone line at the end, so you can also ask questions that way. And so now we will turn to our featured presentation. I'm very happy to have Megan Thibos here from our Mortgage Markets Department Division, who has worked very closely on both the whole set of mortgage rules, and on this consumer and financial educator resource called Owning a Home. So I will turn it over to her. Great. Thank you, Irene. So hello everyone. I'm Megan Thibos. I'm with the Mortgage Markets group here at CFPB. And I've been working for many years now on a project we call Owning a Home, which is actually part of a broader project called Know Before You Owe. So the Know Before You Owe mortgage initiative is designed to help consumers understand their loan options; shop for a mortgage that is best for them; and avoid costly surprises at the closing table. So you may have heard that we just put out - the effective date has just passed for our Know Before You Owe mortgage disclosure rule. That rule went into effect on October 3, and that rule combines the initial mortgage disclosure, the old GFE, and the initial Truth in Lending Disclosure, to make the new loan estimate, and similarly combines the old HUD-1 with the old Final Truth in Lending Disclosure to make the new closing disclosure. These disclosures are designed to make it easier for consumers to compare loan offers up front, and give them more time and make it easier for them to review the final details before closing. So that's all just about context. Our focus today is on the consumer resources. So obviously the rule is trying to sort of reset the baseline for everyone, to make the mortgage process a bit more consumer friendly. But on top of that, we have a huge wealth of consumer resources that we have to offer. And so we hope that you will use these resources with your clients. So with that, I'll get started. So, you know, I don't think I have to tell this group too much, but buying a home is exciting; and for many people, it's a core part of their American Dream. But it can also be overwhelming. There are so many trade-offs to make, and so many decisions that are going to affect your life for years to come. Finding a mortgage is not so exciting. For most people, it's a necessary part of buying a home, but one they'd rather not think much about. Mortgages are complex, and the way the numbers work is not usually intuitive. It's hard to know what a good deal looks like. There are more trade-offs to make, and this time the trade-offs are intangible, and it's hard to figure out which is the right option. But finding a mortgage, finding a mortgage that's right for you, is equally important, if not more so, than finding the right home, because that mortgage financing is also going to affect you and your family financially for years to come. So that's why the CFPB has developed tools and resources to help homebuyers understand their options, and to have the information and confidence that they need to make mortgage choices that will serve them well. So the first - how do I do Page Down? Just do the Arrow. Oh, there we are. So the first resource I'm going to tell you about is called Your Home Loan Toolkit. That is actually an offline resource. It's a booklet that walks consumers through the key points in the mortgage process. You can download it from our Web site. And under our new rules, lenders will actually provide this booklet to consumers, to homebuyers, around the same time as they receive the loan estimate. So this toolkit actually replaces the old HUD settlement costs booklet, if any of you are familiar with that. This booklet is also available in Spanish. And it provides worksheets and conversation starters to help homebuyers explore different mortgage options. So we hope that counselors and educators within this community will help us get this resource in the hands of consumers as early as possible in the home buying process. On our Web site there are options for ordering printed copies. You can put your own logo on the booklet, if you're interested. And I'll talk a little bit more about that later on. But in the meantime, the Owning a Home tool is a set of online resources. So these are interactive tools that have more in-depth information, and sort of a broader range of functionality than the sort of booklet, the printed option in the home loan toolkit. So our Owning a Home online tool is a suite of tools and resources that offer a variety of tools and resources for homebuyers, no matter where they are in the process. We know that the process itself, of getting a mortgage, can be quite confusing. It can be hard to know where to start; what to expect; or what kinds of questions to ask. So our newest resource that just launched a couple of months ago, helps consumers navigate that mortgage process from the beginning to the end. So we help consumers anticipate what's coming next, so that they can ask the right questions at the right time, get the information they need to make decisions, and in general, know before they owe. So we've broken the home buying process into four key phases. And for each phase, we've outlined goals. So this is sort of the overarching architecture here. We've got the four key phases at the top of the page; a little introduction to this phase, Prepare to Shop; and then the key goals for this phase. And then we break it down into a series of skimmable action steps that help people actually accomplish these goals. So we set a goal for ourselves, in creating this resource, that we wanted it to be skimmable, but also empowering; that we wanted to give people tips to help them navigate the process, but we didn't want them to walk away feeling, great, but how do I actually do that? So we've tried very hard to make this resource really actionable for people. So we have detailed information about what you need to know. Lower down on the page -- apologies that I don't have a live demo here -- we not only provide you with what to do, but what you need to know, so some things to keep in the back of your mind, as you're going through this part of the process; and also how to avoid pitfalls. And there's a lot of information here, but it's organized in such a way that it's written to be easily skimmed. The action steps, they open and close so that you can sort of show and hide information as you need it. And then we also offer interactive tools that can help you with complex concepts, or when working through the numbers. So our first tool up is our monthly payment worksheet, so if you're early on in your home buying process, and you might want some help figuring out how much you can afford to pay each month. And so I know that, you know, for many people this may seem straightforward, right? Like I pay X in rent, therefore I can pay X in a mortgage payment. But as I'm sure all of you on the phone realize, it's a little bit more complicated than that. There are new expenses that you take on as a homebuyer, that oftentimes homebuyers don't necessarily anticipate in advance. So this worksheet is designed to help you do that. Right now it's available on our Web site in a flat PDF format, and coming soon in a more interactive version. So the next sort of phase in our new Web site is exploring loan choices. So as a consumer, when you're shopping for a home, we also hope that you'll be shopping for a mortgage, and that you put as much care into the shopping of the mortgage as the shopping of the home. So this phase and all of the other phases are set up in the same way. There's key goals for each phase, and then there's detailed action steps below that help you accomplish these goals. And then there's, again, interactive tools that go along with this phase. So one of the tools available in this phase is a guide to the different kinds of loans that are available. So our loan options guide can help you understand the difference between fixed and adjustable rates; why you might choose one or the other; the difference between FHA loans versus conventional loans; why you might choose one or the other; and what might be the reasons for choosing a different loan term other than the typical 30 years. We've broken it down into three choices basically, that make up fundamentally the mortgage product that you're going to request from a lender. So again, loan term, interest rate type and loan type are often known as loan program. Also in this phase, a very important component of the mortgage is the interest rate. And we know that consumers don't necessarily have great benchmarks when they're shopping for a mortgage, in terms of what interest rate is appropriate for me. Unlike, you know, pricing out a new flat screen TV or a pair of plane tickets across the country, shopping for a mortgage loan can be opaque and complex, and the pricing is individualized. It's unique to you. So trying to figure out what does a good deal for me look like is quite a challenge. So we built this tool to help peer into the black box, and help consumers understand what good looks like for them. So first up, what you can see is that there's a range of interest rates. So this tool, first of all, just helps consumers understand that there may be benefits to shopping; that, you know, not all lenders price the same. And our tool uses real market data to help you explore the interest rates that people in similar circumstances are getting. It's updated every business day, and you can use all of the inputs on that right-hand column to customize the graph to the particular situation that you're interested in -- so credit score, geographic location, all of the details about how much loan you might be asking for, as well as the different loan types. So then the next sort of thing is that we translate this information into real dollars. So we also know that consumers don't have a great intuitive grasp of what the difference between a 4% and a 3.5% might be. So we translate that into dollars over the first five years, and over the 30 years or whatever time horizon of the loan. And whether you plan to buy now or plan to buy later, we help you plan for the future with some concrete next steps as to how to use this information. So once you've figured out what kind of loan you want, you've benchmarked your interest rate so you have some idea of what might be a reasonable rate for you to pay, it's time to request the loan estimate. So again we have another section on the site that guides you through that process of requesting, receiving and reviewing your loan estimate. I don't have that in my slide. Instead what I'm going to show you is a pretty exciting piece of our - so this is the new loan estimate form. You'll see at the bottom that there is a link. So that link is designed to help consumers who are in this moment. They've requested a loan estimate. Hopefully they've requested more than one. And if they follow this link, they'll receive additional educational resources. So these resources are the same resources that are available on the broader Owning a Home site. They're just targeted specifically for consumers who are in this moment where they've received their loan estimate forms. And they encourage you to comparison shop. So this is the landing page where you would - if you click that link, this is where you end up. So it's tailored, again, specifically for folks who are in this particular moment in time. We have some key questions right on the main page about what to do now that you've received your loan estimate. And then there's links off to the left that have additional information, including to the broader Owing a Home site. But right up there in that top left corner is a link to a tool that helps you understand that loan estimate form itself. So that tool flags things that you should pay attention to, like making sure that your name is spelled correctly; making sure that the loan estimate is for the right amount; that you've got the right product that you've requested; all these sorts of things. Or maybe there's a term you don't understand. So in the second tab, which is kind of grayed out on the screen shot, you can get definitions for all - not all, but the vast majority of the mortgage terms that are on the form. And the whole tool is interactive, so as you hover over the colored boxes on the form, the corresponding box on the right-hand side will highlight, so you can make that connection. And vice versa. If you're hovering over a box on the right-hand side of the page, then the corresponding box highlighting on the form will highlight. These boxes are expandable, so if you click into them you get additional information. Again, I wish I had a live demo. Anyway, so again, it's not in my slides, but there's another final section of the site that guides you through all of the things that you need to do to get ready to close. But let's fast-forward for a moment and say it's finally time to close on your new home. So once again, the CFPB is here to help, because we know the amount of paperwork that consumers face at closing can be really overwhelming. So just like we redesigned the loan estimate form, we have redesigned the form you receive at closing. It's called the closing disclosure. Again, we made it easier to compare your final loan terms with the lender's original offer, so you can see quickly if anything has changed. And this form also has a link on it to, again, a tailored page specifically for buyers who are at the moment right before their closing. We made the form as friendly as possible, but there's still a lot of words and concepts that people may not understand. So we created, again, this sort of special page just for folks who are in that moment in time where they're about to close. It offers targeted resources, specifically for those people in that moment in time when they're about to close, along with a broader link back to the Owning a Home site as a whole. And we again help borrowers review their closing disclosure. So we highlight things that are important to pay attention to. And again we have definitions of all of the key terms. We also offer another guide to the other closing documents, which are not things that the CFPB controls. But these are other forms that are typically - that consumers typically receive in the closing process. And so this is a guide to the sort of most common, most important forms in that closing process, that are not CFPB forms. And we have a closing checklist. So this checklist guides you through the closing process. Our new rule requires that folks will get the closing disclosure in, most cases, three days in advance of closing, so there's plenty of time to review your information, and make sure that everything is correct, so there'll be no surprises at the closing table. And these resources are designed to help consumers take advantage of that time to feel confident as they walk into the closing. So we are eager to get these resources in the hands of consumers. We hope that you will use them yourselves and with your clients. We have a couple more resources. Of course, we help consumers find housing counselors located near their area. And if you run into serious trouble, you can file a complaint with the CFPB. We've also created tools for professionals like you, that can help you guide your clients through the process. So there's a whole special page here that has information on how the new disclosure rule has and hasn't changed the mortgage process. You can find this page, the Real Estate Professional's Guide to the Know Before You Owe mortgage initiative. It's available on our main Owning a Home page under Resources for Industry Professionals. There's also a Webinar specifically for housing counselors on the disclosure rule. That's on the main Know Before Your Owe page, which you can find by clicking on the little Know Before You Owe icon at the top of this page. You can sign up here for our mailing list. So Irene's got a mailing list for the Financial Education Exchange. We have a mailing list for real estate professionals who are guiding consumers through the mortgage process, to get updates on the rule and other things related to that. And then this page is also where - this Real Estate Professionals Guide page is also where you can find the links to download the home loan toolkit booklet. You can also order printed copies here. And you can also find instructions if you want to add your organization's logo. There's a little bit of a process you have to follow to do that. That's all under the link called Share CFPB Materials. So that is all I have. So in conclusion, at the CFPB we want to engage and empower consumers to take a more active and informed role in the mortgage process; to start thinking about shopping for a mortgage instead of merely getting a mortgage. And we know that we can't reach every consumer on our own, and that professionals like you play a key role in helping us to do that. So we hope these resources will be helpful to you and your clients, and we welcome your partnership and feedback. Okay, we're switching chairs again. It's Irene again. So thank you very much, Megan. You actually covered a lot in a remarkably efficient amount of time. Actually very impressed by that. And I actually suspect we'll have a lot of questions, even I actually want to dig into some of these. So the first thing I'm going to do is just go one more screen down, so I can see the - just generally, the resources for the owning a home Web site. Everything is on consumerfinance.gov, but here you can see it's consumerfinance.gov/owningahome. And everything that Megan talked about today is there. And then, again, the link for all of the CFPB FinEx resources, which includes the link to Owning a Home, actually, on their Resources for Financial Educators page; the email address for CFPB FinEx; and then the financial education discussion group. We just wanted to have that all up while we talk. So I am now going to - let's see. We have a few. I'm going to start taking some of the Q&A questions that came in via the LiveMeeting, and then we'll also start to take phone questions. So, operator, can you give the instructions for phone questions? And then I'll bring up some of these initial email questions. Thank you. To ask your question over the phone, please press Star followed by the Number 1. To withdraw your question, please press Star 2. And one moment, please, for any questions over the phone lines. Okay, great. So while you guys are all keying those questions up, we did have a few questions already, too. One was on, will the PowerPoint be available? I mean we have been recording and posting the Webinars, which go up on the Resources for Financial Educators FinEx Web page. And then I have typically shared a PDF of the slides. I'll have to ask Megan about that, but it looks like that will be okay. So that will be possible as well, especially - I know there are some folks who have trouble accessing the online Webinar part of this, so I know you've been trying to follow along just on audio. So we are usually able to make that available. All right, and actually before I go to the next email question, and before we check for the phone questions, I just want to note, Megan, one of the things that I think was useful for me to know ahead of time is that really the two new pieces, both on owning the home and in terms of the overall, you know - before the old rule, is the loan estimate, the new loan estimate. What's it called? Form? Form. Oh, wow. There we go then. The loan estimate form and the closing disclosure, right? In some ways, that's the essence of there's now two key forms, and we have tools that explain what those are. Is that... So the most significant change with our new mortgage disclosure rule is the new loan estimate form and the new closing disclosure form. We have the two interactive resources that explain those forms, and help people sort of check for the most important information, get definitions. So those are two new resources that are on the site. The overall organization of the site and the sort of - the four different phases that I went through, that is all new. That all was released in September. And then there's two new special landing pages specifically for folks coming in off of the loan estimate, and coming in off of the closing disclosure, are also new. The monthly payment worksheet is also new. So a lot of new stuff. The tool to help you explore interest rates, and the loan options guide, and our closing checklist have been on the site for a while. But yeah, so probably 50% of the site is new at this point. And those two forms are sort of - one could boil down the rule to those. Those are the pieces that consumers would see as a result... Yes. ...of the rule. Okay great. And actually, a little bit related to that, the next email question was, when is the deadline for lenders to begin using the new forms? That deadline has passed. So that deadline was October 3. So we have a couple of asterisks to that. So first of all, starting on October 3, a consumer who was going to apply for a new mortgage would receive the loan estimate form, and then later the closing disclosure form. If someone was already in the pipeline, they'd already applied for a mortgage prior to October 3, they would still close under the old process with the old forms. The other asterisks there are that certain kinds of mortgages are excluded from the overall rules. So this rule covers the vast majority of mortgages. Certain kinds of mortgages, such as reverse mortgages, HELOCs... Can you remind people what a HELOC is? So a home equity line of credit; so not a loan to buy or refinance a home in general, but to access your equity. Those are not covered under the rule. Also, loans for certain types of manufactured housing -- it depends on the state -- are not covered under the rule. Also, there's a few very small exemptions for basically lenders that do a very (deminimis) number of loans per year. So subject to all of those caveats, the vast majority of mortgage borrowers who are applying for a mortgage today will be receiving these new forms. Terrific. Great. Operator, do we have any phone questions? Currently showing no phone questions. But as a reminder, Star 1 for questions over the phone. Okay, great. I will now go to the next email question which is, how can we go about updating our agency's contact information on the Finding a Housing Counselor section of the Web site? So I don't know the answer to that question. I can follow up. My hunch is the answer to that question is that you actually need to update it with HUD. So we're actually pulling the majority of our data from HUD directly. So I will double-check and get an actual answer to that question, but that would be my guess. Great. Operator, do we have any phone questions now? I'm showing no questions. This is a remarkably placid audience here. Great. Let me see. I'm trying to think if I had other - I'm going to scroll back through a few of the slides. And excuse me. I do have a phone question that just came through, if you'd like to take that. Yeah, we'll take that. (Heather Steele), your line is open. Okay. I'm working with a lender now that's using the new closing disclosure forms, as well as the loan estimate, the new way. Now we provide down payment assistance, and we have funds that come from different sources. And we're used to getting a preliminary HUD. But when the lender sent me the loan estimate, she lumped the two grants together. Now most funders like for you to break down the grants to show that the funds come from the different source. On what form would we be able to show this, if any? I will have to get back to you on that question. That is a technical question outside of my scope of knowledge. Oh, okay. And I know we're all new to it, because the lady said, bear with us. She said, this is a learning curve for everybody. So... Just so I'm clear on the question, when you say funders want it broken down, what funders? The agency that's making the loan? Or... No. We provide down payment assistance through grants. We have grants coming from Home Dollars, and grants coming from another source -- we'll just say AHP funds. The grant for the Home Dollars, in this case, is $25,000. The grant for the AHP is $10,500, with $500 coming back to the counseling agency. But they lumped everything together. But in the past, they've done a preliminary HUD. And on the preliminary HUD, you know, it breaks it down into different sections, as to where the money is going. But when she showed me the closing - not the closing disclosure, but the loan estimate form, it puts it all together. And I'm told by one - because I work across the state in which I live in. One attorney's office said, well we'll go ahead and do a - we can do a preliminary HUD. But the other one said - they opted to do - because like you said, certain loans you can do different things. But with this particular one, they said because they fell within that range when the lady applied, she files with the (CD) portion. And so but they're not familiar with it enough to know -- neither am I -- how to... I guess the question I'm asking is, who wants you to show it broken down? Or why is it important to be able to show it broken down? Because one fund - the down payment assistance, some funds come from the state, and some come from an outside source. Right, but does that matter to the consumer? It doesn't matter to the consumer, because they're benefiting from it, and it's money that they don't have to pay back. But the funder likes to follow it, because there's deed restrictions attached to it. So you're used to filing, essentially - in the old process, you're used to filing your HUD-1 with the funders, so the funders know who they assisted. Right. Okay. All right. I'll see what I can learn. Okay, thank you. Operator, do we have other phone questions? Currently no questions. But as a reminder, once again Star 1 for phone questions. Great. Okay, I have one email question, although it's not directly on this topic. Someone's asking about last month's FinEx Webinar on student loans, whether it was recorded. It was recorded. We are working on hopefully getting it posted. So I know it's not up yet on our archive of Webinars, but we're trying to make that happen. Let's see. I'm just scrolling back to see. I know there were a few things that came up when I had questions. So the - Megan, the Explore Your Interest Rates, it's by state, not any lower geography than that. Yeah, and that's because lenders typically don't actually price at a lower geography. So most mortgage pricing is generally at the state level. So there wasn't really a need to do that. Okay, so they don't usually vary between like urban or rural, or... The total price of your loan could vary between urban and rural, but due to the characteristics of the property. So like if it's a farm, if it has a septic tank, that will affect the price of your loan. But that's not an interest rate issue. Right. That's just a - right. And actually I'm also - I'm back at the Exploring Loan Choices page that I went back to, for those of you who are on the Webinar portion. So does this break it down by monthly payment as well? Or would that go - I guess you have another worksheet that would get you that... ...this one has interest costs, and over... We don't have that on this site right now, because we wanted to - basically there's other costs that go into your monthly payment besides just the interest rate. And so we didn't want to provide a misleading number there. So we don't have that as a tool right now. Okay. We're just showing the differences in terms of how much you're actually paying, right? So it's really just about the financing and the loan part, not about other issues. Is there information on this site about other costs? Like taxes, escrow... Yeah, there's quite a lot of information about the other costs that you can expect. We're just not helping you calculate them, because that is a complicated undertaking. Right, and you don't want to let people think that the interest/principle monthly cost is the only cost they would have in the mortgage payment. Right. We don't want to do it unless we can do it right. It's hard to do it right. Great. Okay, are there any other phone questions, operator? Currently no phone questions. I think Megan did a very good job. Great. Well then (unintelligible). So if folks have questions later, you can send anything to the CFPB_FINEX@CFPB.gov inbox, which we monitor. And I can pass on any questions that might come in that way to Megan or others who would be able to answer. Megan also referenced, for those of you who are into the - kind of want more detail on the rule itself, and some of the issues there, there is a recorded Webinar on the page as well -- not on the FinEx page, but on... Yeah, so that Webinar is actually at consumerfinance.gov/know-before-you-owe. You can find it from the Owning a Home site, but it would be a little hard to find. So consumerfinance.gov/know-before-you-owe. It's fairly easy to find once you're on that page. Okay, so that's for those of you who are interested in the real, kind of, rule part of it. For those of you who are more interested in the kind of, you know, how we can use this as consumers, well this tool obviously was written - is aimed at end users, consumers. As with most of the Bureau tools, we say there's something you can sit down as a financial educator or housing counselor and use with them, or give to them as something to follow up on. But it's certainly something you can kind of use as part of your financial education work. So we hope it will be useful for that purpose. So I think with that we will wind down here. I think this is a great set of tools. I would just like to give everyone a - well first I want to especially encourage those of you who are new, who came in through the HUD list serve email, to send an email to CFPB_FINEX and sign up for FinEx. You'll get a periodic newsletter and other Webinars like this. I would love to have you all be part of that. And I believe our next Webinar will be on a new Bureau Web tool that just launched this morning, which is a retirement tool that helps you estimate when the - consumers estimate or get more information about claiming Social Security, and what claiming at different ages will impact for their retirement. So there's a whole set of tools around that. We will do a Webinar on that probably in December, and we'll also send out a newsletter through FinEx on that. And again, we will continue to have monthly Webinars and some other - regional and other convenings that are being planned. So you will continue to see more information from us. So thank you very much. Thank you very much to Megan. It's a great set of resources here. I hope that all of you are able to use this in your practice and with your consumers. And I think with that, operator, let me know if there's any final questions. If not, I think we're ready to end. Thank you. No further questions. Great. Thanks everyone. Thank you. This does conclude today's conference. You may disconnect at this time. END