On last week’s episode of the Power House podcast, host Clayton Collins and guest Joe Tyrrell, the CEO of Optimal Blue, go in depth on how the mortgage technology firm pushes AI-driven data solutions, innovation and leadership for lenders interested in making better data-driven lending decisions. The duo also discuss growth and profit potential for lenders through the primary and secondary markets.
Constellation Software acquired Optimal Blue last year, with then-CEO Kevin McMahon lauding Constellation’s ability to help Optimal Blue “further deliver on our commitment to rapid innovation for the benefit of our clients.”
Since the acquisition, Optimal Blue has returned to its roots as a company dedicated to providing new solutions for lenders, Tyrrell said. He started his role as Optimal Blue’s CEO in June following his departure from ICE Mortgage Technology, and he is already looking to make a big impact through AI-powered data solutions for lenders. Tyrrell’s goal is simple: He wants to guide lenders toward trusting technology as a key driver of efficiency and away from resisting AI-driven change.
The episode begins with the duo diving into Tyrrell’s background and the factors that attracted him to Optimal Blue. Tyrrell shares that he chose Optimal Blue based on its unique business model that prioritizes scale and stability, which helps to serve the mortgage market with greater tenacity and a new technology-based approach.
“Our mission is super simple: It is to help lenders maximize their profitability every single moment so they have the financial ability to help people achieve the dream of homeownership, and Constellation gives us the ability to do that,” Tyrrell said.
Optimal Blue seeks to accomplish this through authentic service, urgent action and AI-driven data solutions, which the duo dive into later in the episode.
Collins asks Tyrrell how he embodies the company’s values in ways that are more powerful than a PowerPoint presentation or a pamphlet. Tyrrell said he focuses on hiring talent that embodies Optimal Blue’s mission in everything they do on the job.
“You need people who used to do trading, people who understand what it means when there’s one little minor digit,” Tyrrell said. “Accuracy is everything right now in this business, because that’s the difference between being profitable and losing income.”
Next, Collins shifts the conversation toward Optimal Blue’s renewed focus on capital and secondary markets — and why the former is crucial for lenders. In real estate, capital markets share funds to build new homes, while the secondary market focuses on funding the acquisition of existing homes.
Tyrrell believes that lenders should try to drive more value to each of these markets, but they can’t do so without the right data, and that’s where Optimal Blue comes in. The company believes that lenders are suffering from a lack of access to real-time data, which would help them in making lending decisions to impact clients in both the capital and secondary markets.
Collins asks how artificial intelligence can solve that problem, to which Tyrrell makes his plea for generative AI. He understands that some lenders may feel threatened by AI but stresses that Optimal Blue solutions act as an assistant rather than replacing human talent.
The conversation concludes with Tyrrell doubling down on his AI advocacy for mortgage lenders. Optimal Blue offers solutions and assigns help to teach companies how to use AI correctly in order to maximize their return on investment. He encourages lenders to trust AI and add these tools to their workflow to make smarter lending decisions.
