BONUS: Optimal Blue Summit Recap: Product Launches, Key Insights, and More

Jim Glennon: 00:00:03

Welcome to Optimal Insights, your weekly source for real time rate data and expert capital markets commentary brought to you by Optimal Blue. Let's dive in and help you maximize your profitability this week. All right, welcome, everybody. We are at the summit right now. It is Wednesday.

We're about a little more than halfway through the summit. I've got Kevin and Vimy here with me. Yeah, yeah, we're having a good time. We're getting pretty jacked up for Wednesday.

We've had a ton of great sessions, but several more sessions today, including the one we've been talking about every single week on the podcast. We've got Tony Hawk coming up here in about an hour.

Kevin Foley: 00:00:45

About an hour. Tony Hawk of legendary nine hundreds skateboarder fame.

Jim Glennon: 00:00:51

Yes. No, I've heard. Heard good things. You know, you get the question.

Like Tony Hawk, he's not a mortgage guy, but, you know, typically at a conference like this, at any conference we've ever had, we don't typically have a celebrity speaker who's a mortgage person. I guess. Sadly, there are not a ton of celebrity.

Kevin Foley: 00:01:09

The overlap of celebrity and mortgage professional is a very small.

Jim Glennon: 00:01:13

It would be. Yeah. Maybe zero people. So.

Vimi Vasudeva: 00:01:16

Well, depending on how this podcast goes, I mean, we might enter mortgage celebrity territory. Right?

Kevin Foley: 00:01:20

Ooh, good thought, Vinny. Good thought.

Jim Glennon: 00:01:22

And then we'll be like a pharmaceutical conference and we'll be speaking.

Kevin Foley: 00:01:25

Oh, yes. Yeah, yeah, exactly.

Jim Glennon: 00:01:28

But we're really looking forward to that. Obviously, you know, crazy successful person like Tony, who has had amazing success not only in skateboarding, but just as an entrepreneur. Right.

Is obviously going to have some.

Kevin Foley: 00:01:39

Yeah.

And really, anybody who's perfected their craft to the extent that he has, I think he's going to have a lot of valuable lessons, are going to be transferable to a lot of different areas. So.

Jim Glennon: 00:01:49

Sure. Yeah. Just how do you overcome adversity? How do you. How do you meet? How do you get to the top of your.

Kevin Foley: 00:01:55

Yeah.

Jim Glennon: 00:01:55

Profession.

Kevin Foley: 00:01:56

Yeah, right.

Jim Glennon: 00:01:56

Or any profession. Or in business. So looking forward to that later today.

Vimi Vasudeva: 00:02:01

Probably a good time for a disclaimer that as we prepare for Tony Hawk, there will be a lot of background noise and fun dance music. So for our audience out there, be prepared.

Jim Glennon: 00:02:10

Yes, yes. Katy Perry is not here, but you're going to hear Katy Perry music during this podcast.

Kevin Foley: 00:02:15

Right in the thick of it. We're right in the middle of everything.

Jim Glennon: 00:02:18

Let's see. Let's talk about a few of the announcements. Like, we had some major announcements come out yesterday. You may have seen the press releases already.

Kevin Foley: 00:02:26

Seven product launches, seven Product launches.

Jim Glennon: 00:02:29

So we, bucket number seven, don't have time to talk about all them on this podcast, but do go out there and check it out. You're going to hear from us again on the podcast going forward. But Kevin, like, what are your, I don't know, what are your top few?

Kevin Foley: 00:02:40

Yeah, so top few. I mean, it's, it's.

First of all, I think it's just incredible that, you know, the, the teams kind of, you know, working behind the scenes have, you know, put so much effort into these product launches that we, you know, we're, we're so excited to announce seven of them. I mean, that's just a big deal in and of itself.

And if you want the full, full reading, as Jim mentioned, you can go check out the, the press releases that we, that we put out yesterday. So my personal favorites, or personal favorites I think are Ask OB and Originator Assistant. Those are two of our new AI powered features.

e Joe Tyrell came on board in: 2024

So Ask OB is our new standalone optimal blue AI executive assistant.

So you can actually go to askobe and ask any question about your use of optimal blue across all of our suite of products and get targeted answers and analysis in a matter of seconds. So really powerful stuff.

So if you're interested in just, you know, understanding how your volume's trending or understanding your overall profitability, how that's trending, seeing your Dr. Of profitability, you know, which branches, which originators is that coming from?

Just, you know, basic information about concessions, you know, who's requesting concessions, what is the quantity of those concessions?

So if you're an executive at an originator and you're, you know, just looking to get a better understanding of, you know, how your business is operating, or you just have these sort of quick hit questions that, oh, it'd be great if I could get this information just back quickly.

You don't need to have an analyst go out and go dig through reports and come back a day or a couple days later to get you the information that you're looking for, you can just log in, ask a question and get your answer right away. So that I think is going to be very powerful. Both plugged into the PPE side of the equation.

Also, hedging and trading really intended to be, you know, cross functional in terms of what it could do. So that's, that is probably my, my number one, you know, excited feature announcement.

Vimi Vasudeva: 00:05:10

I can see why. I mean, that's revolutionary, right?

Especially for an industry like the mortgage industry that's typically, or at least traditionally has been technologically behind. I mean, this is so advanced and to your point, Kettle, launching seven products at one time, pretty insightful.

Kevin Foley: 00:05:25

It's, it's, it's a big deal. So, so Askobe definitely up there. My other favorite is Originator Assistant, which is a PPE AI based feature.

So it's within the PPE and it's really designed to help originators get the best terms for a borrower and eliminating bias along the way.

So the way that this feature works is, you know, when we run a search and we're looking at, you know, eligible products and pricing, we can get recommendations to slightly adjust the borrower's terms and either get a lower rate or a better price, which is huge.

And not only do we have that capability which is AI driven, but it's also on top of a lot of the originator features that we've been rolling out over the past few months that allow you to run multiple versions of a loan scenario and see the results side by side and also go into a what if mode for pricing where you can have controls that are set to, to prevent data changes within the ppe, having those flow through the appropriate channels in the los, but still be able to view and quote pricing if you're adjusting those features. So just a lot of new flexibility and power given to originators in that deal structuring process.

So trying to figure out what the best terms are gonna be for the borrower.

So, you know, it kind of takes what used to be a manual process where maybe we do need to run through six, eight different versions of a loan scenario, looking at different, you know, just manually adjusting those scenario data points where now we can get the results that we're looking for the most optimized solution in a matter of seconds. So really cool stuff.

Jim Glennon: 00:07:09

Yeah, it's an assistant. Right. And that like a lot of the features that we rolled out yesterday are assistants. Right.

They're not meant to replace people, but they're meant to make the process a lot faster, a lot cleaner, a lot more efficient. Right.

And same thing we won't get into again, all seven, but there are several, as you said, on the hedging and trading platform as well, where there are some processes that you have to do every day, for instance, like P and L recon.

So I'll get a little nerdy here for a minute on the hedging and trading side, you know, day over day, you're going to have changes in your risk position, you're going to have changes in the profitability of your position. And typically it takes an analyst, you know, 30, 45 minutes to an hour, depending on how big those changes are and how big, how deep you want to dig.

Can take a lot of time if someone's day to do that. And now this assistant literally just much like ask ob, you're basically asking OB, why did my position change overnight?

And the system will give you the top five reasons. Here's the first 200,000 was because of this. The second 50,000 was because of that. And it happens instantaneous, right?

You know, no one's spending time doing it and you're not having to dig through spreadsheets to get there. And then there's another feature that suggests trades for you.

Like hedging a position is not, you know, it's not the most complicated thing in the world, but it is very important and it can take some time to think through it and evaluate your options. And this trade assistant actually says, here's the trade we think you should do. But it's an assistant. You still can say, I disagree with you, robot.

Yeah, but I appreciate your help.

Kevin Foley: 00:08:39

You mean the robots aren't in charge just yet?

Jim Glennon: 00:08:43

It's happening fast, so we are cautious about that. But so far we still get to make the final decisions.

Kevin Foley: 00:08:50

Yeah, I think that's a really great way to think about it. And the thing about all of this new technology is that to your point, it's not replacing anybody.

It's just simply empowering humans to be able to do things more quickly, do things that used to be multi step or take a long time to do them much faster. But at the end of the day, the, the, the, you know, the human is still in charge.

Jim Glennon: 00:09:13

Yes, it is. It's wild that we have to differentiate like pretty consistently between humans and AI.

Kevin Foley: 00:09:21

Yeah.

Jim Glennon: 00:09:23

All right, Anything else on that?

Kevin Foley: 00:09:25

I think that's a pretty good overview. But yeah, definitely recommend taking a look at the press releases, see the full list of things that we're so excited to launch.

of new innovation throughout: 2025

Jim Glennon: 00:09:45

Yes. Okay. We had a ton of other great sessions along the way yesterday. We obviously didn't get to sit in on all of them, but got to sit in on quite a few.

We had our Industrin GSE session yesterday, so we got to talk to some of the top aggregators in the industry and as well as the GSEs to see what's going on there. And obviously a lot going on with the new administration. So there was a lot of talk about that.

There's certainly going to be different trends going into this year.

Kevin Foley: 00:10:14

Just a little bit of news in the couple days that we've been on site here.

Jim Glennon: 00:10:18

Yeah, I mean, we had Mike Frattantoni, the chief economist at the mba, had a major session after lunch yesterday and went through his economic update and what's going on with the housing market and had to touch on the administration as well. And, you know, I took a few notes on this, but it was really a lot of what we've talked about on this podcast. You know, some of it is Mike.

Kevin Foley: 00:10:42

Is a listener to the podcast.

Jim Glennon: 00:10:44

He mentioned he was a listener.

Vimi Vasudeva: 00:10:46

What is he a subscriber?

Jim Glennon: 00:10:48

Subscriber. Well, what he said was he every day looks at the OB data. So shout out to Mike for. For that and appreciate you. Mike in the NBA checking out our data.

I think. I think it very well complements the NBA data, which if you're not a subscriber of theirs, you should definitely spend some time there.

They really do a really good job of forecasting out several years of volume at every level, purchase versus refi. Then they give it to economic data as well. What's inflation going to look like? What are rates going to look like? Treasuries.

So they have some really good information there too. But it very much mirrors a lot of what we talk about. And they have a lot of the same opinions going forward.

And unfortunately, that those opinions are fairly flat, I'd say, was maybe the punchline of the whole. The whole presentation was, you know, where rate's going to go in the next couple of years. And.

And generally speaking, no matter who you ask, flat between 6 and 7%, I believe, is what Mike said. That's the general range. And then Treasuries, you know, between three and a half and four and a half.

Kevin Foley: 00:11:51

Yep.

Jim Glennon: 00:11:52

ver the past couple of years.: 2023

We actually saw at least 3/4 of lenders become profitable. So at that Point, any volume increase becomes incremental profitability. Right.

we, we would all love to see: 2021

Kevin Foley: 00:12:31

Yeah, it seems like, you know, big, big story there is even though rates are sort of elevated and flat, that housing inventory kind of continues to rise and that is, you know, kind of driving more, more applications ultimately. So, so even, you know, the, the mortgage rate lock in effect, you know, is loosening a bit.

e country significantly below: 2019

But some bright spots there even, even with or because of, you know, elevated rates, you know, kind of driving a little bit more inventory and ultimately more mortgage apps, which we all like to see.

Jim Glennon: 00:13:20

Yes, yes, Mike mentioned that. I mean, home building is hopefully going to increase inventory and that's where bulk of the purchases are going to come from.

But even existing homes, there should be some increases there as well. Like you said, folks are again starting, not starting to. They're in the mode of accepting that rates are going to be higher for longer.

So the lock in effect is starting to dwindle.

Kevin Foley: 00:13:43

Right, right.

Jim Glennon: 00:13:44

If you go back two years ago, people were hoping, right, rates are going to drop. All projections are for rates to drop.

till: 2027

We need to move into the bigger house. We, we have to relive for my job.

Kevin Foley: 00:14:08

Like at some level it's, you know, it's just, you can put put off some of these decisions, I think, that have driven behavior over the last couple of years for only so long. And then it gets to a point where it's just, you know, it is, it is what it is. Rates are what they are and you start planning for that.

Jim Glennon: 00:14:22

Right. And then there's refis. Yeah, right.

So we, we talk a lot about the debt cycle on this podcast and, and Mike was highlighting it yesterday where certainly especially in the, the younger age ranges and some of the subprime areas and then credit cards and Car loans. Those debt numbers are higher than they've ever been.

p to above where they were in: 2019

We'll start with FHA and then it'll move into conventional and under the headline of the mortgage industry sometimes has to hope for bad things, for good things to happen. In the mortgage industry, typically what follows that is then rates go down because there's some sort of debt issue.

Yeah, we haven't hit that number yet. I mean we still have $18 trillion worth of, of equity out there in homes.

So hopefully what will happen this time around is there will just be more cash out refis as folks will get into a little bit of trouble with credit cards, car loans and they'll start taking some of that record debt out of their homes. So we get those refi numbers up and that will again supplement the increase in purchases and hopefully the mood is we have a good decent year.

Kevin Foley: 00:15:40

I know Mike also had some other signs for hope as well. Talking about just reflecting on the little boomlet that we had.

or you know, bought homes in: 2022

And you know, you mentioned that it's likely while the, you know, the overall trend quarter to quarter, year to year will be flat for interest rates, there likely are going to be more opportunities like that where there might be some just whatever pick your poison news that comes out and headwinds to the economy, international news, whatever, where that drops the treasury significantly enough to allow mortgage rates to fall and offer the same window. Seems like those will be relatively short lived overall.

But if lenders are kind of thinking about that now, thinking about the macroeconomic environment also honing in on what their recapture or refi strategy is going to be, that's something that we talked about in some of the sessions yesterday.

You're going to be much better prepared to hit the ground running on day one and not day eight and to make sure that you're winning that recapture strategy with, with your borrowers for sure.

Vimi Vasudeva: 00:17:24

In fact, I remember when we Launched this podcast around the time of the last mini refi wave, what we were calling it, that was a big part of our sessions too.

It was make sure you have technology in place so that you can take it the second that those rates drop, that you're out there gunning for your borrowers because everyone else is. So you need technology in order to stay on top of it.

Kevin Foley: 00:17:44

Yes. Yeah. And so, you know, one. One piece of technology that we highlighted is capture.

So, you know, our tool capture allows lenders to run, you know, either their servicing portfolio or bulk leads or, you know, prior relationships in bulk to identify where there might be a refi opportunity. And you really need something like that to take, you know, a bulk perspective and not just think about individual loan by loan.

You know, who can I reach out to and refi.

One other thing that I'll highlight too is, you know, it's not just about, you know, waiting for that moment to when rates drop to go reach out to your borrowers. It's, you know, staying in touch along the way too. So it's.

You don't want to forget about them as soon as you close a loan and then, you know, six months later, you reach back out. If you have a strategy along the way to make sure that they're keeping you in mind, you know, so that they're thinking of you when.

When they are seeing that rates drop, you know, that's going to put lenders in a much better position to be able to take advantage of that refi window.

Jim Glennon: 00:18:45

Right. You need to be a lot more surgical rather than shotgun approach. And you may only have a brief period of time like we did last summer. Yep.

To refi those borrowers. So you need to focus on the top prospects rather than the million borrowers you have in your portfolio.

Kevin Foley: 00:19:01

Yep, yep, exactly. So a little bit of, you know, signs of hope there amongst, you know, what continues to be a challenging market. But I thought it was really.

Mike had a really good session overall. I think he does a really good job of, you know, breaking the data down into.

To ways that, you know, everyone can understand and also just telling a really interesting story with it.

Vimi Vasudeva: 00:19:22

Yeah, definitely. Very lucky to have him participate.

Jim Glennon: 00:19:25

Yeah, yeah, it was a lot of fun. And we, we. Right after his session, I actually interviewed Sasha Hewlett from the NBA. So she's the. The avp.

She's the chairperson of the Secondary and Capital Markets committee. So they, you know, they're out there listening, they're out there paying attention to policy. Right.

So there's the policy side of all this, what's going to happen this year. And they obviously have a lot of things to focus on, a lot of things to watch out for.

But even though there's a lot of uncertainty right now, and Mike mentioned some of the things, but then it bled into that session where we talked about, for instance, the, you know, I believe it was just yesterday the CFPB head was ousted. So now I think the head of the treasury is going to take over the cfpb. Maybe cbd. Yeah.

And the CFPB is going to, I guess we don't know yet, is going to stop doing what they're doing.

That may not mean that any rules go away, but basically like some of the other executive orders that have come down recently, I think they're just going to pause.

Kevin Foley: 00:20:24

Yeah.

Jim Glennon: 00:20:24

Re situate and we figure out what the CFPB looks like here.

Kevin Foley: 00:20:28

Right.

Jim Glennon: 00:20:28

30, 40 days.

Kevin Foley: 00:20:29

Yeah.

It's just a very interesting time because, you know, I'm sure a lot of lenders might feel a little bit relieved, you know, particularly with just some of the more nuanced regulations to try and stay on top of and just the specter of overall having a more forceful CFPB in place. I'm sure that there are reasonably some folks out there who are a little relieved.

One of the things that I keep thinking about too is at the end of the day, there's a lot of politics that's involved in this. And so what happens if, let's say, states come in and try and fill that void in the absence of national regulation?

Obviously that would make things a lot more challenging if you have lenders who are out there trying to stay on top of state specific regulations of, say, California or New York, start to come in with their own enforcements of mortgage origination.

Definitely a lot of different ways that this could play out, something I think we'll all stay on top of pretty well and likely be talking about some of the developments in the podcast and ultimately with the goal of just trying to help folks stay a little bit more informed around what's happening and what are some of the things that could happen as we're sort of entering this new era of more unpredictable regulation or more unpredictable absence of regulation. Yeah.

Vimi Vasudeva: 00:21:53

And you know, it's interesting because during my panel that I hosted yesterday, you know, all things msr, I was lucky enough to have three wonderful participants and I asked a question, of course, about regulations and how do you think the current administration is going to impact msr? And one of my panelists took the MIC and just handed it to the next person. And, you know, I looked at him, I said, I don't blame you.

I mean, it's a really challenging question to answer. I think, you know, we did circle back and Lee came up with, with respect to how regulation will change servicing.

I mean, it very likely the deregulation that we all speculate will happen will shift servicing away just from the IMB is a little bit more over into banks. Right. Because they're going to have a lot less requirements.

And so that will be interesting to see how that plays out in terms of retention strategies as well as how that impacts MSR pricing too.

Jim Glennon: 00:22:45

Yeah, sure. Yeah. And then there's tariffs. Right. And then I think Mike had a similar reaction. Basically hang them up.

He basically said, I don't know what to tell you. Yeah, tariffs.

Things have changed in the last three days where it does seem a little bit like we've talked with Ben and Alex about, about how, you know, tariffs could very well just be used for a tactic to get to bring other countries to the table to have discussions about other issues, whether it's fentanyl or it's immigration or taxes. Like it seems to be what's happening right now.

Kevin Foley: 00:23:20

Yeah.

Jim Glennon: 00:23:21

As opposed to just you're going to pay 20% of tariff and I'm going to walk away from the situation. Right, right, right.

But also there's so, again, so much uncertainty there that we're in a situation where we're gonna, we're gonna have podcasts topics for the next, for the next four years.

Kevin Foley: 00:23:37

Love a full plate. Just talking about the week's news. Yes, it seems like.

Jim Glennon: 00:23:42

But I mean, speaking of the MSR panel, so that was a. That's always one of our, one of my favorite ones for us to have at any kind of event. And we do have all the top MSR brokers at these events.

Like what else. What were some other highlights of that session?

Vimi Vasudeva: 00:23:58

Yeah. So to your point, we always have gentlemen from Citus and Phoenix, which we're so lucky to have because they provide such valuable insight.

And then we always love to have the buyer perspective too. So we had someone from Seneca on and it really provides this very well rounded look into what's happening in the MSR market.

There is that music I was referring.

Kevin Foley: 00:24:16

To earlier, Ready for Tony Hawk.

Vimi Vasudeva: 00:24:21

Not quite time to break out into dance yet, but so another interesting topic.

So of course it might have been unfair of me to ask about the political landscape and how that changes msr, but given the focus of this summit and how excited we are at optimal blue for all things AI. I asked the gentleman what they thought about how AI is going to impact servicing. And I'm sure we can all think of some very obvious ways.

But two takeaways were that the cost of servicing will certainly decrease. So it'll be easier to retain servicing from that standpoint to all else equal.

In fact, someone even quoted that it could get as little as $6 per loan, which is pretty incredible as a base cost.

Jim Glennon: 00:25:04

Right. What's the average right now, do you think?

Vimi Vasudeva: 00:25:06

Probably like 20 to 30.

Jim Glennon: 00:25:07

That's wild.

Vimi Vasudeva: 00:25:08

Yeah, yeah. And of course that's very product dependent, so that's just kind of an average number. But so that was interesting.

And then, you know, the other point, and we kind of touched upon this a little earlier with respect to AI and robots. But you know, so as an MSR evaluation, you know, the brokers or someone who's valuing their msr, they attribute value to late fee income.

And what this is is when a borrower goes delinquent, they get charged the late fee like we all do, right. For credit cards or whatever it might be.

And I don't know about you guys, I by accident have missed a payment on my credit card and I've called into customer service and sweet talk myself. You know, sweet talks my way outside of paying the late features, they credit my statement.

So, you know, the same thing of course happens in the mortgage industry.

But if we now move away from calling into customer service and you're using AI and a chat bot, you're very, you're not as likely to be able to get away with it.

Jim Glennon: 00:26:03

Yes, we talk a. Well, maybe, well see, what's the tolerance of a robot for sweet talk.

Vimi Vasudeva: 00:26:07

Exactly. That would be very interesting to explore.

I mean, we might have to do some research on that, come back to you guys in another session with our findings. But so that was interesting.

Or then even a very recent example that we also talked about a couple of weeks ago, how easy it is for those that were impacted by the California wildfires to get forbearance? They call, it's very simple. And then they get this forbearance plan that's really critical for them right now.

But would AI be able to grant forbearance as easily? Because you have to have the exact combination of words that are programmed in order to get that forbearance. So overall I think it's a great thing.

Of course, reduced costs, that's what we're all hoping to get from AI. But these other considerations.

Kevin Foley: 00:26:56

Yeah, I Think that's really good points to bring up.

It's a very complex landscape and it sort of, I think, highlights how, you know, while AI is transforming, not just the mortgage industry or, you know, servicing or origination, a lot of the kind of, you know, end goals, you know, where we end up is still somewhat unpredictable given where we are now.

We can see how things are changing, but at the end of the day, where do they, where do they end up once, you know, AI has sort of reached its conclusion and, you know, proliferated sort of every, every area that it can add value? What does that look like? So very, very interesting times.

Definitely just an overall topic that if you really want to understand how things are changing and how they could change, you got to be glued into folks who are providing this sort of analysis so you can stay up to date. Even in the last couple of weeks or months, there's been major AI announcements that have really shaken things up.

We've talked about some of that, obviously, in our podcast. Have a hot take or two on those.

Jim Glennon: 00:28:04

Yes, you do.

Kevin Foley: 00:28:05

My takes are about 50, 50. So we'll see, we'll see how they play out.

But, but, but, you know, overall, it's just, you know, something that I think anybody in any industry right now needs to stay focused on because it's changing so rapidly and the impacts are so great.

Jim Glennon: 00:28:21

Very good point.

Like, very good way to kind of summarize all that and what we're looking forward to at ob, but also just across the world, you know, what's the, what is the trajectory of AI? What does it get used for?

And, and right now we're really just, we've applied it in some very practical places and it seems like that's, you know, ChatGPT helping you write emails. Like that's how AI is advertised right now, is how can we make a very simple application for a large language model? And that's what we're doing.

Kevin Foley: 00:28:46

Yeah, yeah.

Jim Glennon: 00:28:47

What we're doing with our technology. Okay. Again, so many sessions at this event. Too many to talk about today. We have a few more. Again, we got Tony Hawk. We will have.

We're going to meet with some broker dealers later, have some, some spirited discussion with them and some other, some other, in case you missed it, sessions that are going to summarize some things that happened yesterday. But otherwise, like, I don't know, what was your favorite thing about this conference? It doesn't have to be a session. Just like, what did you.

I always ask people on the way home, like, what did you enjoy the most about, about the conference, I would.

Vimi Vasudeva: 00:29:20

Say the networking for sure. Right. And I think that that's consistent among all participants, whether you're here, you know, as us, as hosts or as clients.

Clients love the opportunity to chat with other clients and say like, you know, what are you doing? Right? What problem you facing? How are you solving them?

Kevin Foley: 00:29:35

It sort of also kind of emphasizes the power of the optimal blue network because you come to an event like this and you have such a wide variety of folks to be able to engage, share those sort of best practices. Folks who are small size, mid size, large size, IMBs, banks, credit unions, everybody.

You find somebody that you could learn from and share best practices with and maybe they could learn from you as well. So really great opportunity there, I'm sure.

Jim Glennon: 00:30:05

Yeah, we had a great event last night out on the terrace where everybody got together. And that's a lot of what clients will say. They're like, man, I've met like 18 clients of yours that I've never met before.

We use the same technology and just collaborating like that, just, you know, how are you using it, how are you implementing it? How many people do you need to manage this kind of feature? Are you using this new, you know, are you using autolock?

Are you using, using Compass Edge? So I would agree, I guess I steal yours or I'll say, you know, some of the areas around the conference where you can network.

We have the Blueprint Zone right outside this room here, which is all day, between sessions. There are folks that were congregating around there. They may have heard something about a feature in a session and they said, I want to dig deeper.

Right. So they go to the Blueprint zone and we have our product people there. We have some folks from sales, folks from the desk.

They're able to help them, like literally walk them through it on a screen and let them touch the buttons.

Kevin Foley: 00:30:58

I think for me being in product development, I always love just getting feedback directly from users.

It's one thing for our teams to put something together, but actually to unveil it to customers, to get it in their hands, to get real feedback on it is invaluable.

And then also just feedback in terms of what's important for our lenders, even if it's critical feedback, we love hearing any type of feedback and making sure that that feedback gets incorporated into our roadmap. So really it's been, I encourage anyone to share your feedback with me about how your use of optimal blue is going.

What are things that you really like about optimal blue and what are some things that you would like us to work on in the future? It's really great conversations come out of that.

And that kind of drives home the message of, ultimately, we're working for all of our customers that are here. This is what we're trying to do. We're trying to empower them to be more efficient.

We're trying to support their overall profitability so that they can continue helping borrowers achieve the dream of homeownership. And we play that important role in the overall process. We're not the end all, be all, but we play a very crucial role. Role in that process.

And, you know, ultimately what we do is all about, you know, the folks who, who come to these conferences and, and show up and who we engage with here. So it's been, it's been really cool.

It's always a great opportunity to, to have this many folks, you know, come together and be able to, you know, share feedback.

Jim Glennon: 00:32:39

Right.

Vimi Vasudeva: 00:32:40

In fact, I'm sure a lot of the suggestions that we're receiving from our clients today will be showcased at our next summit.

Kevin Foley: 00:32:46

help shape what we launch for: 2026

Jim Glennon: 00:32:58

It could become exponential from there. Yeah. And can't forget the UX wall too. So that's another area where people have given feedback this week is right next to the blueprint zone.

There's a. Literally a wall with sticky notes. And you can write down, like, I have a suggestion. It's the modern version of a suggestion box for. For. For ob.

Kevin Foley: 00:33:18

Yeah.

Jim Glennon: 00:33:19

All right. Anything else, team?

Kevin Foley: 00:33:22

It's a great recap. Yeah.

Jim Glennon: 00:33:24

And I'm kind of getting fomo.

Kevin Foley: 00:33:25

I know. Something to get. Get back out there.

Jim Glennon: 00:33:29

All right, well, thank you, Kevin. Yeah, thank you, Vimy. Thanks, everybody, for. For listening and watching and. Yeah, we'll see you out there.

Vimi Vasudeva: 00:33:35

Thank you.