Broker Webcast – Express Policy Update | Trade Credit Insurance Division January 10, 2017

Broker Webcast – Express Policy Update | Trade Credit Insurance Division  January 10, 2017

admin Articles, Blog , ,


hi welcome this is dead coppola director broker relations across development at Exim Bank welcome to this webcast about some upcoming changes to the expression surance program we’re expecting fairly high attendance on this Web cast we’re just going to wait another minute or two before we get started so thank you for your patience and stay tuned you hello again edco fillet here director the positive element will get started now we may have some folks chime in as we move along again thank you for calling in to this webcast I hope you all had a very nice holiday and I wish you all very successful 2017 this is the first of quarterly webcasts that we’re going to start hosting going forward as part of our effort to be more proactive in reaching out to our burgers and sharing information with them in addition to that and i’ll be hosting by monthly conference calls with the brokers to provide a somewhat more informal setting to share information and get feedback from yourselves the first one of those will be next week on wednesday january teens at two p.m. and i will share with you the details about that later but i just wanted to give you that that heads up we appreciate that there will probably be a lot of interest in these changes to express a product and it’s possible although so far it does not look like that more people will try to dial in them the system can handle and I just want you to know that we are recording the webcast and this will not be the first and last opportunity for brokers to hear and learn about the changes we will make this information available in one way shape or form we’re told we can post it on the website and barring any unforeseen obstacles to doing that we will do that as well we’re going to try to keep this to an hour but there may be a lot of questions and we don’t want to cut people short so we’ll keep going until we went out of questions or we just have to cut it off in which case we’ll make note of all unanswered questions and then answer those separately offline before handing it over to Jean just want to take care of one housekeeping item as you know I’ve been reaching out to all of the brokers asking them to visit through a broker locator on exxon’s website and review the information we have for your contacts there to make sure that it is current and accurate and I appreciate all the responses that I have received from you and as well as welcome to converse I’ve been able to have as many of you around that as well unfortunately as part of that process some glitches have arisen in the use of the locator particularly with respect to the two filters that appear at the top of the master broker locator list I just want you to know first of all that we are aware of those difficulties and the folks are in charge of handling that are aware of that and are dealing with it as we speak but do know that the entire complete master broker locator list is there on the website if you do not select any of the filters so both of those filter box will show any you should be able to find yourself or anyone else that you’re looking for it’s just the use of the filters that seems to be creating a problem so we’re looking forward to having that change to correct that as soon as possible and we apologize for any inconvenience but that may be causing you I’m with that I’m going to hand it over to Jim Fitzgerald the deputy vice president of trade credit insurance she’ll walk through the changes to the product we have one or more for colleagues either here in the room or online backup or help or answer any questions that you may have you can send in your questions in writing on your computer and will be viewing those as they come in but we’re going to try and hold off answering those until the end of the presentation so we give gene a chance to get through this and perhaps preempt some questions that you may have in the beginning we will not identify the questioners name when you send in a question so with that I’m gene it’s all yours thank you add good morning to the folks out west and good afternoon to the rest of the country as I present my name is Jean Fitzgibbon and I’m a manager in the trade credit insurance provision and that’s okay I have one of the other managers here with me and need a Tory and the two of us are going to be discussing today the Express policy update sort of our five-year review and some modifications based on that review and based on feedback we’ve obtained from you and our outreach to some of the Express policyholders today and as I said we’d be happy to take questions and we already have a few questions ahead of time that will run through at the end and then if anything we don’t address and we can address I think you all know how to get hold of myself for Anita and we’d be happy to know help you later offline before I get started one quick announcement or a solicitation for assistance the annual conference I think that all of us may be seeing the announcement is this april on thursday and fridays at six and seven and on thursday afternoon of the six the trade credit insurance division along with trade finance amy shinkman we are going to be holding a seminar in the afternoon if you focus it on small businesses on the short-term exporter health policies and we’re looking for if you have any recommendations any clients we’re looking for clients that have either had a multi buyer policy and then graduated to the private sector but continue to use us for our single buyer policies where they can obtain private sector policies we’re also looking for companies that came in they weren’t sure about excavate or the credit insurance process and they obtained a short-term single buyer policy under with Amy shop and then they decided to graduate and do a holter of a policy and it came in and took a multi by our policy with us so if you have any clients you I would recommend you think would be willing to able to come in and willing to speak on a panel we love to hear from you so if you can either contact myself Tom Fitzpatrick or a me shake me whether we really appreciate that we’re looking for us anywhere from three to four companies that would be able to present again on Thursday afternoon april six at the annual conference so as the point of the point of this webinar is discussed the Express policy and basically our five-year review and based on that some modifications so to give you a brief reminder of background we rolled out the Express policy at the annual conference in april 2011 and it was introduced as a simplified value-added multi buyer type product for small businesses targeted for those in particular that rather new to extending credit at all or new to market maybe they had been telling to canada for a couple years and then they all of a sudden decided they wanted to explore opportunities say in brazil and they were little concerned about or hesitant and so they were looking for something to help them so again the aim was helped me small businesses get comfortable extending credit into newer markets and expanding their business opportunities and initially when we designed the program in addition to our regular short-term new applicant standard so for instance that generally the company’s been around for at least three years business operations had a tangible net worth the new criteria we set for the Express policy eligibility was that they had ten foreign buyers to whom they filled two on credit terms or less and we did allow selectivity so if you attend for buyers and you only wanted to ensure five of those that was eligible under the Express product about a year later based on some feedback we obtained from the exporting brokerage community we increase that limit from ten to twenty so we just recently last year we completed with five year like I said we introduced it in april 2011 so we did a five-year study one to see you know we wanted to do that because it’s five years since we introduced a product and see how is faring also to sort of quantify some of the anecdotal information whether we were either obtaining from the outside or just from our day-to-day underwriting talking to our loan officers so we did a review last year of the express policy results and here are some of the main takeaways one it basically has been it was you know a well received in the marketplace I would say a marketing success we sold it to a lot of small businesses and it’s become a sizable portion of our portfolio so for instance today we have a little over 2,000 short term X motor held multi buyer policies and roughly half of those now are specifically expressed policyholders but here’s me however part of our analysis that we we uncovered and sort of you know we were seeing this but we got more firm data behind it we were seeing a large portion though unfortunately these Express policyholders were inactive they inviting active we looked at as 12 months or more of no reported activity so either we have policies that were taken out and never used or we have policies taken out they used it for one year and then never use it use it again and so we were seeing a lot of underutilized transaction so we were underwriting buyer credit limits that were never utilized or were greatly underutilized and that obviously takes a lot of resources I mean as you’re all aware a lot of the scrutiny around the bank reason in the past several years you know we have to underwrite to our published credit standards as well as our internal guidelines because we have auditors looking at us and also for proper due diligence so we have to underwrite a credit you know going in thinking that’s going to be used whether it’s used or not eventually and so that takes a lot of time to properly under write something and when we’re seeing a large percentage is going on to utilize now I’m talking about the Express product here you know that’s just taking a lot of resources that could be better spent elsewhere and we were also seeing some i would say severe adverse selection by some experienced exporter’s mean Express yes we did set it up to allow a selectivity but it was never intended to be used by very sophisticated exporters to select against us as opposed to if you want to select against us we have our short from single buyer products so for instance we saw some exporter’s who have been extending credit decades I’m talking some that said they’ve been extending credit since the 1970s and while maybe they were under the threshold as far as that buyers threshold which was initially 10 that went up to 20 they they only gave us one buyer and they give us one buyer for a million dollars on 360 day term that they were looking for coverage for and that was never the intent of the Express product so we we did this analysis and we’re making some modifications we’re looking to make some modifications and we’re hoping these modifications will realign Express product back to its original purpose as I’ve stress a couple times the original purpose was to help smaller exporter’s who were either totally new to extending credit or new to markets may be outside North America who are looking to expand it wasn’t intended for you know sophisticated exporters to adversely select against us and I had also talked about how unfortunately we’ve seen a portion that was going underutilized and that does take up processing time resources to staff time to underwrite transactions that aren’t used and that stuff hugs would be better spent working on transactions for experts who actually do have a viable transaction so we’re hoping with these modifications it will improve the processing time as well as ought to improve customer service and lastly it’s going to help us prefer preserve the portfolio zero reserve status or budget neutrality again I think this has been out there in the marketplace because of the past several years with the emphasis on Exim Bank and our operations each product at the bank has to operate on a budget neutrality budgets you know subsidy of zero so even if one program say or product of the bank is very successful those benefits reserves what have you can’t be used to offset say poor performance another product that each product has to stand on its own and for the multi-bear product we’ve been on zero subsidy budget neutral since the 90 and we like to maintain that I think we all you know you could almost of you can experience and relate to the experience when the short-term single buyer product has to go on that budget neutrality I believe in spring summer 2014 and the pricing across the board initially increased and the nice thing about particular small business product is we have a nice rate table that’s been consistent over the years so the exporter knows that renewal what’s their pricing is going to be and so we like to maintain that but unfortunately we’re seeing with a smaller premium base coming in with some of those inactivity or selectivity we’re having a smaller premium base and with us from our premium base coming in you know we have to factor in pain out claims and broker commissions you know our cost of doing business and maintain in the portfolio the last thing we want is going on budget where potentially every year the pricing could change so hence this year for small business policy the rate table could be X amount but next year depending on the results of the past year the pricing could change and that renewal then these experts are used to sort of a predictable set of right all of a sudden they increase so we’re trying to reserve preserve that zero reserve status that we’ve always enjoyed for decades under the multi-bear product so in the summer last year Tom and I reached out to many of you most some of the most active brokers as far as a valium buy policies that you brokered under the Express product and also also on Walter costco who I think many of you know he reached out to about 80 to 90 individual companies were expressed policyholders to obtain feedback and as I know feedback was largely positive as far as the companies we talked to that Walter talked to one surprising fact is a lot of them actually were manufactured so they weren’t wholesalers they were manufacturers who were established and the bottom line is for some of them they just weren’t ready for prime time they weren’t ready to get into the export credit market either in a large parsian was because they needed work in capital and if they were able to always get cash which was great for them they weren’t extending credit and a lot of them said they just took out the policy because there’s a low barrier to entry and they might need it in a year or two so they apply because there’s no buried entry but then they didn’t end up using it and like I said some of it was a function of they needed pre export working capital in some cases we tried to facilitate them getting in touch with the lender so specifically what are these modifications that we’re going to be looking at and the first one is we’re going to go back and reestablish their criteria for eligibility so in addition like I said to the regular small you know the regular multiplier new applicant eligibility of three years in business we like to see the tangible network we’re reinstating we’re going to go back down to 10 foreign buyers or fewer that they’ve been extending credit terms to and we’re adding a second criteria which is well point number two they have to have been extending credit five years or less so for instance if you have an exporter who today has been extending credit for six years to Canada and Mexico we would consider them ineligible going forward as a march first for the Express product as we consider them more sophisticated and again I go back to our original to emphasis the intent of the Express product was to help those less sophisticated small business exporters so there’s two new criteria one is just realigning the buyer limit back to 10 from 20 and then adding this eligibility threshold on a number of years of export credit experience we’re also adding back in in april 2011 we did away with the minimum five-hundred-dollar refundable advance deposit for all multi-layer products as long as the applicant was an SBA to find small business we’re now adding that back in for all multi buy our products whether it’s the Express product whether it’s the small business policy whether it’s the deductible policy we’re adding that five-hundred-dollar advance deposit back in and please keep in mind it’s refundable so if they cancel the policy after say three years that five hundred dollars is refunded to them where we’re putting that back on i think many of you are familiar with that where a term of quote in order to get the quote documents black diamond issues they have to provide that $500 advance deposit and lastly we’re establishing a more firm or formal express graduation policy which I’ll talk about in a slide in a moment as far as some of the modifications that we’re hoping to do for the processing one is we’re going to be extending the pump is turning on time for these sbcl to buyer credit limits under the Express from five to ten days and per our conversation the time and I had I think basically all of you said you never sold Express on the fact that we promised five day turnaround time so this should be a takeaway but the reality is with some of these small X quarters when they do submit these buyers the buyers tend to be small and we go to reach out to the current reporting agencies to get a requirement for it and they don’t know them so they have to do an investigation and that sometimes takes up to over a month so the bottom line is we’re we’re extending sort of our to make it more clear to realign to what we’ve been seeing we’re exchanging that five day turnaround to 10 and the next we are designing in online and this probably won’t be implemented totally for six months or so and incomplete status and this is going to be for any application that comes in line and that’s just a multi buyer express at any multi buyer including the single buyer where we’re going to have the ability to put that transaction on incomplete status send you and the applicant an email via the system that says in order to complete this review we need for instance maybe the buyers updated financial statements an email would go out from the system you build a track on your landing page which the pending applications are incomplete and then once that information is obtained you’ll be able to update upload that data into online similar to how the claims process is set up right now for those of you who have submitted claims there’s an ability to upload any additional required data that they might require via the the online tied to that claim so we’re going to set up this the same way where you build submit the financials or credit porn or whatever financial or credit information we need via online and then it would restart the clock on our end it would go back into the loan officers in boxes it’s now been submitted as complete so we hope to have that like I sent is this going to take several months but that’s our intent and it’s like again I stress it’s not just for the Express applications this is for all application that we process online and going to apologize if some of you can’t see we NRN maybe you can’t see it on our end we are getting a screen come up and unfortunately our IT person just left the room so if you guys can see it great Ed’s trying to work as I T magic here really fast um there was this one second okay there hopefully now you can see it clearly this is the Express graduation criteria which is going to go into effect on jun 1 so for those policies that are becoming into its new on on march one and then for those existing policies are coming up for renewal effective june one so those jun 1 renewals kick off on april one we’re creating firm graduation guidelines again to emphasize Express was never intended to be an evergreen product where once someone gets in they stay forever and the reality is many people are in who probably no longer meet the criteria ie two years ago they came in they applied and they had 18 buyer so there were two buyers shy of the threshold and reality is in most cases we haven’t been asking that renewal where do they stand now so during the course of the past two years they might have obtained 10 more buyers that they haven’t been giving us and they’ve been extending credit to so in series are beyond the 20 foreign buyer credit limit at but yes they still maintain an express policy so the only ones we’ve sort of actively graduated were ones that were they submitted more than 20 foreign buyers for us to review our to the sbcl process and/or they’ve reached the threshold of 7.5 million in annual export credit snail or a few ask because the broker thought maybe they’d be better off with a deductible policy based on their markets they got a lower rate and they were comfortable extending credit terms now but this is to establish firm guidelines so as the third renewal they’re going into their fourth year as an express policyholder they need to convert to either whole turnovers so to give us the whole book of business and they want to do the regular small business policies that qualifying you know non-deductible they do the deductible policy if we’re now we’re getting whole turnover and they’re beyond 20 or the beyond 7.5 million regional spread or risk for those of you who aren’t as familiar with reasonable spread of risk it’s a multi buyer type policy where you tell us what you got and our general cough is as long as we’re getting the least fifty percent of that eligible book of business the other fifty percent you can say for instance and share on your own so either a reasonable spread of risk or lastly if they only have one or two buyers they want to ensure they can go to the short-term single bar product and you know work with Amy shanklin shop so a quick example you know company in California spread policyholder they came to us in august 2013 this year it’ll be there going into their fourth renewal when their renewal comes up we would reach out to you and ask them you know how what do they want to handle how they want to handle conversion are they interested in maintaining the whole turnover policy do they want to be a resource for the risk or they only have a couple buyers they really decided they want to ensure and they’re going to do short from single buyer and the rest of the portfolio maybe they now have a private sector policy or their self ensuring we to let you know as far as what the universe here we’re talking about as far as eligible companies we ran we ran some numbers and starting june one going forward there’s only about 10 to 15 policies express policies that would come up each month that would be that meet this criteria where they’d now going into the fourth renewal and to see what you know with our over 2000 policy so annually every month we see about 150 to 200 multiplications kickoff for renewal so say up that 150 only about 10 are now going to follow in this Express graduation category and when they kicked off and as you know the kickoff 60 days prior to experts the loan officer that handles that territory will be reaching out to you to say you know hey can you contact your client and how do they want to handle they now need to graduate so next step on by march one we’re going to get all our web marketing material on the website updated to reflect this new criteria and reminder again the new criterias going back to ten buyers from 20 and also requiring that they have less than five years or less export credit experience there’s really no updates we need to do to process starting today in online or to the export Express application form the hard copy form or even when you submit it online the only thing we’re going to be tweaking to online as I mentioned is allow the status of incomplete and then the ability to upload data to incomplete applications so there’s nothing we really have to do other than that and as I just mentioned loan officers in our group will be reaching out to your to you on which companies are going to be affected by this starting with the june one renewals as far as a graduation and discussing with you on how they want to handle it going forward so we appreciate all the feedback we’ve gotten for new guys over the past year and we look forward to you note any more feedback on how this goes gets implemented going forward and so I had a few questions already that some brokers had asked and so I want to go through these and then I’ll take if there’s any online we have some one question is well vol function to upload missing credits data be available to both the broker and the applicant yes that’s our intent I think one thing right now we were working on trying to get I know someone had asked Lauren I think many of you know Lauren who works with us on our Ilan online trying to get right now what’s an application submitted you can’t see the attachment and trying to get that accessible to see the only potential issue with that is some companies don’t want their financials release to the broker and two depending on of those financials coming that’s like the one hurdle that is our problem quite frankly here’s a personal case how we going to manage that because if they see if an applicant doesn’t want you to see the financial statements and that’s a requirement then an answer that question it would have to be no because I think you know we want them to update it online but they don’t want it to show it to you so that’s something that’s quite frankly still an outside an outstanding issue of how to work around and maybe at the end of the day some of those it would just have to email it to us and we obviously then store it internally here that’s something we’re looking at but that is one issue with that authority to upload additional part of information the sensitivity of some buyers also don’t want the ex corner to see their financials so that is an issue someone just said camping email yes I can but obviously that sometimes pose is a administrative issue of the female to the wrong person and getting it to the right person but yes they can email some of the questions that we got ahead of time I just wanted to address now I wanted one was is all wood all current so they’re currently Express multi by our policy holder as of jun 1 would they be grandfathered in and bail took you through 20 so yes if you’re currently in on march one we’re not going to kick you outta pa15 buyer however at those current express policyholders are subject to this graduation so when they come up on their fourth year renewal he’ll be asked to graduate or if during the course between now and then if they’ve reached that twenty buyer limit and they submit 20 or more buyers I’m and early graduate because they’re over the annual threshold of 7.5 million then they would have to graduate under those circumstances but anyway this currently in house we’re not going to all of a sudden ask them you know to graduate if if they’re you know under between 10 and 20 right now but there are those other criteria um another question came up as far as the eligibility and as far as the thresholded at five years of export credit experience and yes if someone’s been extending credit for six years just to canada that count even though Canada Canadian sales are technically a standard exclusion under a multi buyer policy again it’s the whole point was going towards whether they’re sophisticated an app so it no matter whether they were exporting on credit to him for Canada Mexico you pay Brazil they were still extending credit they were still making foreign buyer prize decisions Canada’s a foreign market so even though Canadian cells are standard exclusion yes that their experience of of giselle Canada we count towards that five years experience also with the five-hundred-dollar refundable deposit going back on someone asked how does that affect current policy holders that were quoted after 2011 and there was no five hundred dollars they’re not going to be charged five hundred dollars at renewal so they’re just they never had it as long as they remain a policyholder we’re not going to add it on it’s just when they canceled their policy there’s nothing to refund because I never put anything in but it we knew / not going to ask them to pay five hundred dollars so once you’re in without the higher on dollars you’re in but for quotes reissue after march one we’re going to be putting that five-hundred-dollar refundable deposit back on um those were some of the ones who got ahead of time let me see if there’s any other ones online you I think that was the right now that’s the bulk of the questions I got the ones i answered ahead of time and if there’s any other one so in Rhode effective on quotes after March one so I guess I was a question in response to my discussion right now about the five-hundred-dollar so now it’s quotes issued after March one will have the five-hundred-dollar refundable deposit issued on them if that was the question we know questions online function okay just how was a premium race be affected well actually that’s I’m glad someone asked that question for the premium rates for those who are converting many of these small business refining these expressed on fielder’s there you are giving a cell turnover so if they want to stay and give us all turnover and they’re eligible for the small business policy in fact the rates are going to go down for example 1 to 60 day rate under the Express policy 65 cents under the small business policy whole turn over 55 cents so for some of them the race go go down or to pay in their book of business and they want to do a whole turnover if they have say mostly Western Europe and Canada the race could be in the low 30 that they want to take a small deductible so that’s what a time of these that are being asked to convert you know the loan officer is going to work with the broker on figuring out what is the customer wants and give them you know the best option some cases the race going to go down for some of these X quarters I mean yes going forward when they have to add new buyers are going to have to obtain a part report themselves or the trade reference but on some of these some of them might actually appreciate the lower rate so hopefully I answered that question you sorry something that’s sort of long so you can give me a moment and need and I are reading these hold on one second sorry you you a broker asked they said the adverse the ability to select is an attractive option and they said have we thought talked to smoking at a select market policy where policyholders can choose demarcus they wish to ensure plumbing we can talk further offline but the bottom line is we do have our reason was credit risk policy that does allow them to tell us which fires they want to include a which fires they want to exclude I know some brokers have asked us about basically sort of an open policy where they just decide what they want to include well we can’t really do that because I how can we price our risks going forward we can’t walk into something where we don’t know what what our per phone is going to be for the year so we need to know up front what are you going to ensure what do you want to exploit so we can appropriate we price it so we can talk further offline on that but you know for a lot of these we do have that reason with federal risk policy which should for the most part provide coverage for those exported wanted in theory quota code adversely select against us and if it’s the severe adverse selection that’s what we have the short term single bar product for as I mentioned the reasonable spreader risk we generally want to be getting at least fifty percent of your eligible book of business recently we’ve had a few requests that was really pushing that boundary where they’re only giving us a like ten percent and we’re just not such as something we’re not comfortable with right now particularly depending on who the markets and the industry is so on those I mean last time you had a shirt from single buyer products I can fill the gaps in where the private sector is unable unwilling to you know look at a risk the next question is all these modifications effective March one what March one is the effective date for the new eligibility criteria so we’re not going to implement the graduation for existing Express policyholders till june one so that’s that answers one so effective March one if you’re a march one renewal that’s upper express right now we’re not endure Elgin you’re at that force your renewal we’re not going to be reaching out they need me to convert we’re giving some time provides doing this discussion now to provide some time to the marketplace it’s going to be jun 14 existing express policyholders sorry we’re looking at these questions some of them get her long as you can get us into the Surrey dome where the questions was ensured us ten buyers this was always regard to what the threshold was it was buyers on credit terms to groom their extending credit term so if they have ten buyers and half of them they’re getting cash in advance they attend foreign buyers they’re not extending credit to them so they’d be under this was buyers to whom they’re extending credit terms unsecured credit terms which does include vad does include unconfirmed letters of credit so for us when we mean by secured credit terms is they’re getting cash in advance so they have confirmed letters of credit you the question was with a 60 day express premium rates still be 65 cents yeah I mean we’re not talking about changing any of the pricing here on the product what I had mentioned was when someone’s up for renewal in there is if they meet that threat their new graduation threshold and if they want to do whole trip over the race might actually go down I mean the current endorse rate for the 65 cents for the regular whole turnover is 55 cents for the Express of 65 cents we’re not right now there’s no contemplation as no discussion or contemplation about changing any of the set rate tables or our pricing for any of the product it was just the eligibility criteria one question is if an applicant wishes to convert from an express policy prior to their I assuming prior to their renewal date bottom line is the troops of anything regardless of whether you have an EMB policy and esc policy during the course of the year we can’t change a policy type mid-year we can make modifications to the current policy parameters we can’t change from say a whole turnover EMV policy to a reasonable spread of risk policy which is a deductible policy we can only change policy types of renewal we’re happy to do something mid-year but basically well that would involve is we renewed a new application we’d have to cancel the current policy if you have a new I guess I’d the new application requesting have to come in in to be a new policy number so we can’t change policy types the only thing we can change mid-year is if you have currently an express policy and you want to do a whole turnover small business policy so you’re going from the EXP the EMB that’s the only quota called policy types we can change but we can’t go from A and B to an EFC we can’t go from an ESC to Annie and bees so we could go from express to an EMV mid-year if you’re giving a total turnover but if they want to do select risk we can’t do that mid-year hopefully that answered that question you hmm I think I got the bulk of the questions there when someone has some follow-up questions on the sbcl attachments the intent is yes it was the same situation with this incomplete is allowing the ability to attach credit information like I said to all transactions as well as like it so there’s that issue of whether the attachments a broker can see we often at least with the SP pls foreign buyers will just email those directly to the loan officer and just sometimes with the exporter’s they’ll take over finishing submission of like say a new multi by or ESS application and at that time when they submit bill update their financials and like I said that goes to the issue of what we make available to the brokers in terms of attachments the applications and maybe there’s some way that attachment if it’s curly Marcus financial statements can be greyed out somehow so that’s something we’re working on with our IT folks so there’s our other questions you know how I think everyone knows how my contact information is on there for those you are familiar with my software Nita please reach out to us phone or email we love to get your input you have any other further suggestions or how to make this process especially in terms of the graduation process smoother on in your clients any suggestions we’d be happy to hear that and we look forward to working with you this coming year so thank you jean very much for your explanation and hopefully that was helpful to everybody as i said in the beginning of the call this information will be made available as a follow-up hopefully on the website both webcast and the content and we’ll try and do that as soon as we can a couple questions did come in that we’re not directly related to the express changes so for those of you who sent those and we’ll get back to you offline and if we don’t please follow up with me if you will so with that again like to thank you for calling in wish you all a very successful and happy 2017 and we’ll be talking to you soon bye-bye

You May Also Like..

Weekend violence leaves 6 dead in Philadelphia

Weekend violence leaves 6 dead in Philadelphia

>>I LEFT FROM DOWN NORTH PHILLY THINKING I WAS GETTING AWAY FROM THIS. I AIN’T GETTING AWAY FROM NOTHING. IT’S […]

Leave a Reply

Your email address will not be published. Required fields are marked *