[David] Listeners, we’re back with the creators of Angel AI, and I said that plural. Yes, Pavan is the guy that has been the brainchild, but behind every good man is a strong, amazing woman and Jennifer is here with us, they’ve been partners. Pavan, you and Jennifer have been partners in the business for how long?
[Pavan] 1998, I think.
[David] Oh my gosh.
[David] And Jennifer had just immigrated to the country. She started working for me and then I think a year later she took a year off, she had her baby, beautiful baby Sunita now she’s a beautiful young woman.
[David] That’s so awesome. That’s right. By the way, we should tell everyone you are in Puerto Rico so we have that background. We’re able to pick up a little of the background. I’ll be there with you this Saturday for the Diwali party. That’s really exciting. Jennifer can’t make it, but I’m bummed about that. But talk a little bit about this Diwali party Pavan, what is the Diwali party? What is this about? And what are we celebrating?
[Pavan] Okay, the Diwali party is Saturday, so in a couple of days here. And I’m so excited, we got I think a hundred people flying in from all over the country. We got realtors, loan officers, business leaders, investment bankers you name it. It’s just crazy. We do a celebration every year. We started off something small about five years ago at my house for our local friends and family and the community. And then over the years grown every year, got bigger this year. I think we have 1,300 people registered.
[David] I’m really excited. I was there my first time was there last year, your last party at your house and it was epic. It was amazing. What a blast. I’m looking forward to it. You’ve gotten so big now you have to take it out of your house and put it elsewhere. But we’re here really to talk about some really important initiatives that are going on. Some of the things I want to talk about, Pavan, is how should we be looking at LOs? There, we have a message to one of the people that’s using this. I want to indirectly speak to that person. But also we have Twin angel. I want to talk about that, but I’ll let you kick this off with some of the important things that you see going on
[Pavan] There’s a lot to talk about, so I’m going to go really fast. The first I’m going to back up a little for the Diwali party. This year’s theme. It’s called a Diwali Avatar party and if you go to the website, angel ai.com/diwali24 D-I-W-A-L-I 24, and you can read all about it, the reason we call it the Diwali Avatar Party, because first of all the word avatar is a Sanskrit word and although it’s used frequently in the AI and the computer technology industry these days. So it’s a great double in, double meaning there and what we’re launching at this party, we’re actually we launched it in Singapore a couple of weeks ago, but we’re launching it more to realtors and to the larger consumer community is the Angel Twin technology where each one of us can have our own twin, our own avatar, but an AI avatar. And it is an amazing technology because here’s what’s going to happen and I don’t want to scare people, but I have to say the truth. The truth is that 800 million people are potentially displaced by artificial intelligence by 2030, was it $15 trillion, that the economy will be added by 2030 and so we need to come up with a solution, the most valuable thing each one of us has is our knowledge, our data. Okay? So I’m gonna throw another stat at you. We all use Google and most people don’t realize that you’ve given, each one of us has given Google $60,000 worth of data. that’s why Google is a multi trillion dollar company because they’ve extracted 60,000 of value from each one of us. Okay, now wouldn’t you like that data to be yours? And so that $60,000 of value goes to you and not to Google. So what we’re seeing here is a shift. It’s not that 800 million people are going to suddenly be unemployed. No, if we are smart and come up with solutions, come up with AI technology, if we could take the the most valuable thing each one of us has is our data, is our knowledge, is our brains. If you take our brains and put it the blockchain, so that it’s secure and it belongs to you and only you, and no one else has access to it, but you, and you have your private keys in your wallet, and then that chain, Your data on your chain drives your AI twin, your Angel Twin. So now you send your twin to work, while you sit in Puerto Rico on the beach, that’s the future. It’s actually the future for humanity is so exciting because we’re not supposed to be robots and most of our jobs make us into robots. It’s an unnatural condition. We are free spirits, we gotta take this whole paradigm and we can fix the mess that the Industrial Revolution did. The Industrial Revolution did a lot of great things. None of this modern life would exist without it. But at the same time, it did a lot of bad things. We have some really bad problems in society today, which we can now fix with our technology and the biggest problem we have in society is look at the families that are being broken because both Husband and Wife or both partners are working, both partners are working and there’s not enough time for their kids and with rising inflation, there’s even less time and more stress and money, like the number one, I think 42% I forget the stat, I think it’s 40% or 50% of all marriages fail due to financial pressures.
[David] I want to break that down a little bit And then I want to get jennifer’s thoughts on this as well because what’s really what’s going on here what you’re talking about is duplicating Yourself, and I was talking to Sri who you introduced me to who’s also there He says it’s very possible for you to Avatar yourself at avatar, your brain, basically duplicate your brain. I’m trying to figure out the right way to say it. I’m not sure I’m saying it correctly, but basically take your brain, take your knowledge base, put it into a computer and then send it out. You can be making infinite number of phone calls you with your voice, even with your image. And now what Sri was talking about was with your voice. Now, what you’re talking about is adding avatars to this and there we go into.
[Pavan] And with your angel, you will be able to do a podcast with my twin and you won’t be able to tell the difference. It is that good. Yeah. It is. And I, and it was Sri. We actually, he actually did that for me the other day.
He said, Dave, we listened to three of your podcasts and look at our leadership, listen to, and we added, create a script and it had it read it, had it duplicated my voice. It was amazingly accurate. Now, no video ye but it was amazingly accurate. So yes, I looked at the content that we could generate, but it does start with a human. It’s not getting rid of the human. But it’s reprogramming. We need to rethink what we do and we become content creators, content generators.
[Pavan] No, actually not. I will correct that. That is the old paradigm. That’s the web to Facebook paradigm where we’re content creators. Now we are knowledge accumulators.
[David] Okay, knowledge accumulators. Okay, so contrast the two. I’m still locked in this thing.
[Pavan] So the more you live, the more you really live as a human being and interact and learn and have conversations with other people and create opinions and form ideas, right? The more you’re human, the more knowledge you accumulate, and the more original ideas you generate. You don’t generate original ideas sitting in a box. We put our kids behind these desks for eight hours a day, that doesn’t create creativity, right? that’s Pink Floyd throwing kids in the meat grinder. It’s another brick in the wall, right? we need our kids to be out free and playing and engaging and learning about the world, right? and that’s when they create knowledge and we create ideas and creativity, right? and that content, that knowledge belongs to you, belongs to each individual. Don’t freely give it away to Google and Facebook and whatever. Let’s take that knowledge, right? and the beauty of AngelTwin, this is where the real magic happens. Is that we’ve designed it in such a way that knowledge that’s in your brain can flow through Angel AI onto the chain into your secure wallet. So you own it. Angel AI becomes a conduit, a gateway. So it’s easy to go from your head, so let ask to your wallet.
[David] Let me ask you a question on this. I just discovered last night that I had turned on personalization mode on Cha GPT and so it’s been learning and downloading and I just went over that this morning and looked at all of the knowledge it’s gaining about me.
[Pavan] You just gave it away. You just gave it away, right? So you turn on personalization mode, you’re making Sam Altman that much richer and Bill Gates.
[David] Oh, really? You should probably shut that off then.
[Pavan] That’s right. That’s right. That’s a trap. That’s a trap. Interesting. Okay right? With Angel AI, that, that mode, we don’t have a personalization mode, but with Angel Twin, that knowledge will go not into our database, but into your wallet. Okay, so what we also have released right? We also have released, and you’re going to see me. I’m at the North American Blockchain Summit in Dallas on the 22nd of this month. The North American Blockchain Summit dot com. I’m the keynote speaker. I’m speaking there with Mark Pompeo, former Speaker of the House, Paul Ryan, Pat Toomey, the former Prime Minister of Canada, and a bunch of, former Senators and I’m talking specifically about the value of having your own wallet That has your own data that controls your own AI. What they call Artificial General Intelligence. That’s a fancy term for an AI that is so good that it’s completely like it does, as far as you can concern, it does like everything a human can do. Now they’re saying that’ll be ready, and I think it’ll be ready in about three years. So you need to start collecting your data now, and each one of us can have our own AI, our personal AI, that’s secure with our own knowledge. So that’s truly our twin and that’s doing the, it is doing the grunt work for us. So that we can go out and continue to gain and knowledge and be creative.
[David] So we can do that. So how do we start collecting? I want to go shut that off. I saw a switch that I can not only shut it off and have them stop, but I can clear it out so they don’t have that.
[Pavan] The trms very carefully. Once they have it, they got it.
[David] Jennifer, you’re chuckling away at this because, I want to get your perspective. You’ve run operations there at SunWest for a long time. You’ve been significant to this operation. In so many ways, anything that really gets done there is done by you and I don’t want to discredit Pavan. He’s got the vision guy. You’re the getter done one in the group without question.
[Pavan] Discredit me all you want because it says she’s the brains of the operation. I’m just a good looks, although she’s pretty good looking too.
[David] So when you hear this, Jennifer, what starts coming alive to you, especially I’m thinking about underwriters. I’m thinking about processors and how each one of them uniquely communicate with the customers. How does this start coming alive from an operational standpoint for you?
[Jennifer] Sure. That’s a great segue into what, The actual implementation of what Pavan was actually talking about is, right? he had the nail on the head when he said that the data that you are giving away and things like that, right? But why do we have an underwriter or why do we have a processor, right? We’re expecting a human to do something that’s impossible. Like in the mortgage world, we all know. There’s like tens and thousands of pages of guidelines across the various agencies. We have the federal guidelines, the state guidelines, the agency guidelines, all of that, right? We’re talking about hundreds and thousands of pages and one single loan file on an average. How many pages are we talking about here? Like hundreds of pages? So, we’re expecting one human being to remember all these hundreds and thousands of pages of guidelines an compare that against the hundreds of pages on a single loan that they’re getting. Yes, that is impossible. It’s an impossible situation. It’s not gonna happen. And that is where this AI that we’re talking about comes into play. It’s not the generalized AI. It is the more specific AI that angel brought into play here. That is how angel AI came into play. So that is really exciting. Exactly. So that is why you can just take your own LOS, whatever LOS you have, and you think you can just integrate it with a version of chat GPT and be able to offer an AI, it’s not going to work. God really trained her. I say her because we call Angel AI her. Sorry about that. But we have to train an AI to do what I just said. Compare the guidelines from hundreds and thousands of pages, over 40 years, not something that happened today, yesterday, day before yesterday, and still be current as of the second, because we all know how the guidelines change and change fast in the industry as well, you have to keep it up to date and train her, train the AI from the past and still be able to offer a real time solution for a customer, right?
[Pavan] That’s what we’re coming up on 45 years, actually
[Jennifer] 45, 45. Yes. And that’s what we do at SunWest and at with angel AI, because operations is not really operations. It’s an implementation of the technology to make it easy for a human to do something that we expect them to do, which is impossible.
[David] It’s we’re asking for superhuman results. I am from people that, and it’s just not, it’s fully, and that’s why we’d have the defects that we do in our low production process is because it’s something that is virtually impossible. It’s a miracle that we don’t have more issues. We’ll work so hard on that, but this really gets to something I want. We’ve talked about this before, and I want your thoughts on Jennifer add into this. If we’re taking 45 years of historical data, there is a bias that we have found that can come seep in there. But one of the things that you’re committed to doing is getting bias out, especially when it comes to fair lending, which is something we’ve, Pavan has talked to on previous podcasts. We’ll put links to those. So you go for your listeners, you go listen. But how are you getting how are you dealing with the bias of historical data? out as you move forward. That has got to be a challenge in and of itself.
[Pavan] That’s not a challenge for us because we are our DNA. We’re the home of fair lending, right? So my father set that tone back in 1980 and both this, number one, our values and our ethics and number two, I guess part of it, I hate to put it in these terms and maybe it’s because we’re first generation immigrants ourselves that maybe that helped shape our view of the world. I don’t know what it is. Maybe it’s a combination of the above, but at the end of the day, our focus has always been on making sure the golden rules, making sure everyone that, that can afford the house, that wants the house and loves the house, gets the house, right? And the second rule that we always followed is lend the money to the customer as if it’s your own money. Because in the mortgage business, and especially in a federally insured bank business, you forget that because it’s somebody else’s money always at the end and people forget that. And then, and we’ve seen if you look at all the bank failures and mortgage company failures that’s ever happened. The mortgage companies and banks go down for two reasons. Number one, bad underwriting. And number two, is bad trading. They start gambling with the markets. And these two basic disciplines, if you carry, you’re going to have a clean shop, you’re going to run well. And that’s why we’ve been in business 45 years.
[David] And it also, there’s something there that I’m going to remind our listeners about. And in fact, those that did not listen to the interview I did with Jennifer, you’ve got to go listen to that folks, because it’s leadership Pavan. One of the stories that Jennifer told, Jennifer, you recall us is the time where you were in the doing working secretary of marketing and you, it was a oops. And it was a. It was a huge mistake that had a huge dollar. It was a mistake that had a huge dollar consequence.
[Jennifer] It was one mistake with a huge dollar consequence. And when I say huge dollar consequence, I’m talking about one whole month of salary for the entire organization, right? That’s how big of an impact it was. And yes, I do have to speak about leadership here because one, yes, the DNA and we all were learned from day one or taught from day one about what Pavan said, lend only if it is your own money and you are willing to lend your own money, then figure out a way to make it happen. That’s one thing that started from the DNA. And two, a person is not evaluated based on the mistake they’re made instead, how do they deal with that mistake they made and what do they learn from that mistake and how they implement what they do after they made that mistake. That’s what defines you as an individual in this organization.
[David] And it defines the leadership of an organization. That was such a good moment. I remember you told me in that interview that we did, I don’t want to give the whole interview away because I want people to go back and listen to it. But you said you went in to tell Pavan, you said, I’m certain I’ll be pat. I think he said, you called your husband. I’ll probably be coming home. I’m going to get fired. This is going to be horrible. I do. You felt horrible because I know how committed you are to this family and to this business and specifically to SunWest. And it was devastating, but you had the biggest shock of your life. Yeah. I just, yeah. Go ahead. You tell that part.
[Jennifer] I would really like to share that here because all I did was I screwed up and I walked into Pavan’s office and I said, come on, I want to say some things. Yeah. I lost so much money. And the immediate is okay. What happened? and I told him what happened. Okay. All right. Are you going to make, are we making sure that it’s not happening again? Yes. What is it? Lay down the steps of what is okay. Let’s move on. I was like, that’s it. That’s it. Nothing else. Nothing else. So if it was another organization,
[David] here’s a box that clean out your desk. I hope you wasn’t. No.
[Jennifer] I was ready to pack up and go because it’s a, I lost a money that could have written the payroll for that entire month for the whole organization and wiped it off in literally seconds. And here I am 24 years later and still working with the same leader and only doing better than what I was at that time. So yeah.
[David] And like Pavan said earlier, and he said that, but I want to make sure it’s really, we all recognize what happens there. Pavan is the. The guy, the architects, they, you’re the one that builds that makes it happen. And it’s, I just love the partnership between the two of you, the faith he has between the two.
[Jennifer] I do want to bring this up because what you said about what is there in the industry, right? How are we going to learn and advance at home of fair lending? It’s not just for lending and I have to mention this here, even in the organization, right? I’m a minority woman. And who just came into the country, an immigrant, like maybe less than a year, there’s no reason for him to listen to me and honor what my thoughts are. He did that. That is what leadership is about and if you have that in your DNA, it doesn’t matter whether it’s your employee or it’s your customer, you’re going to treat them all the same way. And that’s why I’ve been able to work all these years with him and being Risen to the level that I have risen, right? So that’s a testament to what we give back to the community. I am a part of recipient as well. Yeah.
[David] Yeah. And part of the thing that is part of the story, and we don’t have time to get into this day, but I just realized, but there’s something in you that you did not let that defeat you. You realize you were given grace and mercy. You recognize that you can come back. But so many people at that moment go, I’m a failure. And they start self talking themselves out into a habit where they get some out. We got to come back to that topic someday, Jennifer, because I think that’s a wonderful story. You somehow rose out of that one incident, which a big incident, but you rose up and did not let that define you. And so kudos to you for how you responded and how you came through that. So that I think that’s a wonderful part of the story. Let’s get back to Angel Twin, because I’m really fascinated about this, especially a lot of people, Pavan, you hit on something really interesting, by the way, I hope the weather gets better. When I’m there on Saturday and what I’m looking at there over the background, over your shoulder, because it’s looking pretty up for boating there, as far as the rainstorm. So it was beautiful last year when I was there, it was absolutely gorgeous. So anyway, hope that gets out of the system and gets back to normal. Good weather. What I want to talk about is a lot of people are when loan officers, I’m thinking of one particular individual that we all know. The loan office, there’s such a fear to deal with loan officers. There’s such a fear to manage them and I, and imagine them effectively. And I tell you Pavan, that is something you have figured out really well, and you guys have teamed up together, good loan officers thrive there and bad loan officers are gone. And I think that is something that is I would like to have you share a little bit about, and how does angel twin give lift to this or solve this problem and where would they, for the consumer gets the best version of every loan officer in your company.
[Pavan] Okay. I don’t know if I solve any management magic here on managing loan officers. I think I just got old and grumpy. It’s really a simple solution, right? Because you have to think customer first and who is your customer? The customer is that borrower. And if you design your operations and your technology and your systems where everything is about the borrower, number one is about the borrower, the number two, the realtor, and the number three, the loan officers, if you focus it that way and the spotlights on the borrower, then everything will happen automatically and then what happens is you automatically filter out loan officers who are not putting the borrower at the center of their lives.
[David] Yeah. Too many times they’ve got their commission checks in the center, right? It’s all, what about me? Yeah.
[Pavan] Yeah. So I hate loan officers with commission bread. They get those guys out. And when your culture is that when an ethos is that way they automatically those loan officers will just not even apply. And that’s okay. Yeah. I don’t mind that and you don’t mind that reputation going, getting out there because they won’t even apply there. Yeah. And so it’s fine. And so it’s self fulfilling. And then for the loan officers who are here now with angel twin to add some second half, your question with Angel Twin, they can multiply themselves infinitely. All right. So every loan officer will have their own twin. So imagine they will be on the website. If they’re partnered with a realtor, there’s a listing. So their twin will be able to talk to customers as they look at the listing. Imagine an iPad or a big screen at an open house, where you can talk to the twin of that loan officer, where a customer walking into an open house, we would talk to the loan officer. And if the realtor can have a twin as well, right? So when you go on the listing site, you’ll have a twin of the loan off of the twin of the realtor. And you could literally have a conference call with the AI twins of both of these people at the same time, a video call, like we’re doing right now, you can have a video call with those, with their twins, 24/7, right? And, one of the things that we did recently, a few months ago, is we the number one wholesale executive in the country, his name is Justin Simpers. He joined us about four or five months ago, and the twin was a big part of it. So we’ve already launched a twin for Justin Simpers. It’s called AskSimpers. AI. Okay. And so it’s a text based twin at this point. And very soon within, before the end of the year, he’s going to have Justin Simpers video interactive voice twin. So for Justin, it’s don’t know everything. He’s a very good AE. He knows the regs and guidelines inside out. He’s the best I’ve seen. But he still gets stuck and my twin is superhuman. It’s my personality, everything I know and it’s got a superhuman brain. It’s like everyone can have a superhuman clone of themselves. So, that’s the magic.
[David]I want to make sure that people listening to this, get the grasp, get the picture of this. You’re talking about cloning someone’s personality and looks expression, the way they talk, and then you’re adding the Angel AI brain with all its knowledge into the mix. I see both. I’m fine with Pavan nodding. That’s good. But if I see Jennifer nodding, then I can feel even better about it because I know she’s the one that made it all happen. So I want to have our listeners grab a hold of that. The future of lending and the future of mortgage loan originators is going to be going to this where someone who can embrace this technology, not get afraid of it and try to run from it and, or ignored or feared It’s going to be enhanced. I think you have Jennifer Martinez who will, I’m glad she’s going to be, she and her fiance are going to be at the Dwali party at the meter in person, Nancy out and California means many of the top loan original retail loan origin are recognizing this an increasing number of banks and originators, Quontic bank. We just had them on the podcast. Not that long ago, talking about how they threw away their entire tech stack to come up with this. All in on angel AI, this is happening. It’s happening. If you’ve got to be patient, Pavan, you’ve got to be the one of the most patient people in the planet, because you’ve been working on this for how many, you and Jennifer have been working on this for how many years?
[Pavan] For decades, 20 plus years. The core engine, and we talked about in the last podcast, the core engine in, what you would call an LOS, but it’s really an AI engine that manages loan transactions. That algorithm I designed the algorithm in the early 90s and that algorithm is still the key part. That’s what makes it all work. That’s what makes, a thousand different conditions coming in at the same time. All get processed simultaneously. I think we just ran the numbers for last for October, the numbers, October is we’re getting two documents and a second being dropped into Angel AI two documents a second. Think about it, right? That is right? And last month alone, we had 30, sorry, 60, almost 6,400 new user accounts created and half of those were loan officers. A quarter plus maybe 30% or realtors and the rest. We don’t know. They didn’t. They didn’t specify. Okay, so at this rate of growth in a few months, every single loan officer in the industry will have an Angel AI account. Every single realtor in the country will have an Angel AI account, right? And it will be there. It’ll be there in place.
[David] And then you’re going to add the Angel Twin. But I get that from the standpoint of who’s coming on at the rate of the growth of what that’s going to look like Jennifer, how do you see this transforming? Yeah, I people’s that sit in your job and you’re in your role
[Jennifer] Before I go into Speaking about people at my job or my role, I’d really like to speak about as a consumer, right? and you talked about being impatient Pavan being very patient, right? Yeah. I never understood how patient Pavan has been because I’ve become very impatient now. And I do want to share this. I know it might a little bit time consuming, a little bit drilling, but very relevant. I was a mortgage consumer within the last 30 days, right? Because I talked about my daughter and yes, it’s a great story. I’m so glad I need it.
[Pavan] I need to clarify something. So SunWest, we have a policy. We’ve had it for forever. Our policy is that if you’re a decision maker at the company, you cannot do a loan within the company. Correct. You have, in other words, SunWest, we’ll do employee loans, but never for a key decision maker, because the optics are so bad. And I don’t understand how the companies do it. Like, how can they do loans for their own executive because there’s so much even the impression of conflict of interest.
[David] So you had a policy of that. So how did you overcome that with using angel AI then?
[Jennifer] We didn’t. That’s why I want to talk about this because not being able to use angel AI made me very patient and I keep thinking, why is anyone not using Angel AI as a consumer, as a loan originator or anything, right? I’m getting very impatient now.
[Pavan] Jen went online to an online lender.
[Jennifer] I have to, so I have to go to an online lender.
[David] So this isn’t a story about you got this done at a at SunWest. You were forced because of the company policy to go elsewhere and the experience was torturous.
[Jennifer] Experience was torturous and makes me feel very impatient about everybody else who’s not using angel. Like why on earth? And again, I’m not speaking with a bias because Angel AI is our baby, but I’m not speaking with that bias. I’m. Speaking as a consumer, every step of the way, the challenges that I face, starting from simple data entry and a unique situation, like a co-signer on a loan, I’m not
[Pavan] That’s not so unique. It’s not unique, right? Jen was a co signer for her daughter buying her first house.
[Jennifer] So I’m a cosigner. And I just couldn’t get the data into the system that I’m a co-signer. I couldn’t get a 1003 correct for three days. And it’s not even a point when you’re using Angel AI. You say, I want to be a cosigner, bang, it’s done. In nanoseconds, right? And I’m waiting three days here. And on top of that, I’m sitting here, I know what the decision on my loan is going to be. If it was a regular consumer, number one, I couldn’t even get the data correct in the system for three days. And then they have to review my documents, process my documents, another three days. So it’s about six to seven days before I can even get a decision on my file and I am a consumer who would have been very impatient, very mental, a lot of mental torture. What is going to happen? What is going to happen? What is going to have six days is it? Ton of time. We complain about one hour. Some documents take one hour or 90 minutes to calculate the income. That is too long. What are we going to do to make this different? So from there to someone in my role, the AI and Pavan will talk about cell technology as well. A system that is being built on the knowledge that she has gained over the last 45 years and continuing to learn on a daily basis is very important so that as a head of operations of a mortgage company, as Pavan said, you have to focus on who your customer is. In this case, it’s your consumer. If you cannot offer a solution to a consumer to an already mentally torturous process, which is buying a property if you’re not able to give them a peace of mind when they are trying to fulfill their life dream, you don’t serve a purpose in your role, and that is why.
[Pavan] If people do not start making this shift, Jennifer, they’re going to like you, if you now being, let’s just say, take you out of your role, you had no that knowledge yet you then had another experience and you as a consumer, we’re doing business with SunWest. Why would anyone go back to that other lender? And I think that it what’s so important here is while we’re talking about AI, talking about SunWest, that’s Celligence and AI what’s going on. Yes, you guys are a sponsor, but really the message here to our listeners is our industry is dramatically changing. We now have a tool. This tool is called Angel AI. You can learn about it by going to angelai.com, or you can start using it, the full product for free by going to askangel.ai. I just want to slip that in so people understand, but is this transforming the industry? Again, I want to go that’s such a great story and you got the loan done,
[Jennifer] I did, but if it was someone who had a weak heart, I don’t know every step of the way, it’s a very sequential process and there’s so many hard stops across the path of buying and closing that loan. I felt what a consumer in a different place, which doesn’t have an AI that is not just an AI but is able to make an informed decision and be able to give you a proper decision. And I do want to make make the listeners understand this as well. Then I know what I need to submit on my loan, right? Because of my knowledge that I’ve gained. It’s so happened that they did not review all the documents upfront on the eve of my closing the loan, I was asked for a bunch of things like for earnest money, deposit documentation, just on the eve of closing.
[David] Imagine how many times we’ve heard this story for decades and decades. Jennifer, this is what goes on in the street. And it has to change.
[Pavan] It’s because they didn’t read the purchase contract, the addendum to the purchase contract. They didn’t say somebody missed reading that and again, the AI doesn’t miss it. You drop in a document. It’s going to read, it’s going to read every word, every page. And they didn’t read the title report either. And actually, I think the loan, they closed the loan, they didn’t read the title report, is technically not deliverable to Fannie Mae. Exactly. Oh my God. Yes. That’s their problem. That’s their problem. Yeah.
[Jennifer] This is what when I was talking about earlier you’re making a human be a superhuman by having them review hundreds of pages of your documents.
[David] They have bad employees over there. It’s just that we burden them with so much and that we’ve got to get these super new human tools to come in alongside of us and get this in balance. That’s such a great point. By the way. Kudos to your mom, Jennifer, for cosigning and helping your daughter. Cause I think that’s awesome. Thank you. I think that is just awesome. I love that part of the story. Pavan, as we look forward, I’m really excited about Angel Twin. Would you share a little bit more about the vision and what the timeframe is? That is it a year out? Two years, five years out, what are we, when are we going to see the full implementation of this and what does that again look like?
[Jennifer] That’s the only part Pavan is impatient about. So he’s patient about everything else, but delivering the tech to the consumers.
[Pavan] I was three, four weeks ago. I was three, four weeks ago. I was at in Singapore for token 2049, which was the big, the biggest blockchain conference every year. And it’s where we announced AngelTwin to the world. And it was supposed to be ready then. But then, Jennifer, she’s a slacker.
[David] Not even close. You’re so bad. He’s true. He’s true. We’re going to delete that out of here. He is true. Anything but a slacker.
[Pavan] Yeah you remember Jennifer’s our CTO, right? Not running operations. Operations is a It’s a by product of being our CTO. And what’s the current timeline, Jen? What do you think by the end of the year, it’ll be in production?
[Jennifer] Yeah. We’re rolling out the beta version this week. And yeah.
[David] What is that going to look like, Jennifer? What is a realistic, you’re, Pavan has the vision guy. I want to hear from the person.
[Pavan] Everyone can go and see it for themselves. again, if you go to the Diwali site and again if you all see this before Saturday and you want to come to the party, all you do is you go to our, go to angelai.com/diwali24, D I W A L I 24 to four. So angelai. com slash Diwali 24. And you can go there and register, right? And then on the comments, just put Lykken on lending. So that way we know you saw it on nickel lending and we’ll approve you. As a guest, and if you scroll down that page as a sample avatar there, that’s an avatar of me. That’s my twin, right? And you could see how it would look and that’s an early version. It’s going to get a lot better than that. And we also have one of the biggest, big influencers in the country already. We’ve created an avatar for, and his name is Deepak Chopra. Some of you may know him. He’s got 20 million followers and his avatar is up and running. It’s called DigitalDeepak.AI. Okay, and you can fully play with and he’s already have he is a perfect example of how much money this can make you to make each of us. He already has 10,000 subscribers that are paying him a monthly fee to talk to his avatar to get coaching from his avatar and the coaching is just like him. Okay, so they pay a subscription fee to get coaching because he’s the wellness coach. So they pay a subscription fee for the wellness coaching, right? So this is already in production. This isproven stable technology, right? And all we’re doing now is finishing in the integration with Angel AI. So could you imagine, like a real estate agent, a loan officer, a coach, a business owner, whatever it is that you do is like you, Your customers can interact with your avatar and it’s as good as are almost as good as you and everything that knowledge about your avatar, everything that’s you from your expressions to how you would answer something and your new ones. All that nuance knowledge. It belongs to you. It doesn’t belong to me. It doesn’t belong to anybody else. It will be stored on chain in your secure digital wallet and that’s the other thing that we’ve already rolled out in Angel AIis a digital wallet. A digital wallet on blockchain. It’s ready to go. That’s why I want you all to come to the NorthAmericanBlockchainSummit.com In Dallas and November 21st, where I will be presenting with AI and blockchain technology coming together. We’ve been working on that. I’ve talked about this for two and a half years already. Been working on it for a long time. It’s finally in, it’s finally done. It’s finally ready to go, and I’ll be unveiling it for the first time at the North American Blockchain Summit with the title sponsor for it. I got a keynote there right alongside Paul Ryan and Mike Pompeo and all these, just incredibly smart people. Which there’s rumors that Mike Pompeo might actually end up being the what do you call it, the Secretary of State under the Trump administration again, which would be interesting.
[David] I’d be really fascinating. Yeah, man. That’s it. This it’s an exciting new world. It’s an exciting new world. I’ve got to be there. It’s just the day before I fly out for Thanksgiving. I may have to go up to Dallas and then change my flight, fly out of there for that to be there to listen to this. This is amazing. Pavan, Jennifer, thank you so much for being here. This, I can look at what you guys are creating together and it’s an amazing insights into the future. And I know there’s a many initiatives out there. I found out about it at the end of as a result of our partnership. I had so many people walking up to me, asking me and drilling me with questions about, can this really work? Does this really work? And I can assure them and in our listeners this works. The important thing is you got to learn, you’ve gotta roll up your sleeve and get familiar with it. Listeners. So Pavan, tell us how does this work?
[Pavan] Yeah. So there’s a, with chat GPT coming out two years ago, there’s been like this gold rush. Every company that was running to AI, it’s, it feels very much like in the 90s, where every company in the world ran to internet. but then nobody knew exactly how it worked and what to do with it.So unless you have the deep DNA and understanding and ethos of the tech, it’s, you could put some stuff on the fringes, but you’re never really going to get there. Okay, so you can’t just strap on a chat bot. You can’t just strap on a chat GPT or something to your legacy loan system. It’s not going to work because your legacy loan system has to be AI at the core. For example like in Jennifer’s case, of that lender not being able to handle and the disclosure, not be able to generate disclosures, not even be able to take the input from the customer. That he’s a co signer. Okay. And that means there’s a fundamental flaw that means their system, right? Everything’s hardwired. They’re not, it’s not able to learn. I’m sure she’s not the first case that they’ve had where they’ve had a co-signer. Absolutely not. Yeah. So after and that company has been around a long time. So I, their system is not able to learn as things happen. So the next, if tomorrow another customer comes to them with the same situation as Jennifer, which is a very common situation, that customer will have the exact same problem, because it learned nothing from Jennifer’s situation. Okay whereas our technology, okay, it learns constantly. These this is a little business rule, right? This, it would have learned this, I don’t know how many years ago, it would have learned this. On its own or semi on its own, we, we’re almost to a point, we’re almost to a point where it’s completely independent at this point. So the way it is that we have these little cells, right? Think about the cells in your brain or the cells in your body. They each work independently, yet they come together to form, solve big problems, but they make decisions and they do stuff all by themselves, right? and then they generate it’s like mitosis in your body, right? So these cells replicate and generate. Okay, and they’re built from the same DNA, that’s the DNA of fair lending, the DNA of expanding wealth across society, that’s the DNA that they’re built on. They’re built on the same replicates for every cell that’s created, okay, yet each cell does its own function. And it’s just amazing, I see the latest version of this tech in our lab, and it’s like watching It’s like watching evolution happen right in front of your eyes. It’s you see these things generate and create and learn and you’re like, and it’s it blows your mind, right? So the rate at which Angel AI can learn is astonishing. It can adapt to new business processes. What would normally, like if you were working with some LOS vendor if you needed a change, you had a new product, it would, you would get a big bill from them. Yeah. And you would get a big timeline, maybe it takes two months, three months, have analysts, all this stuff, and a release and all this. Instead here, like it does it in minutes, hours. We had a big release of credit repair credit boost a couple months ago. First few customers came out with scenarios that had, that we never imagined. Legit scenarios we never imagined. And we just guided the AI a little bit. Push it along and it generate the cells and off it goes and new business processes, new, completely out of the box rules are in there. So easily which and a traditional non AI system would have taken weeks, maybe months to do, and you would have had a big bill from your vendor.
[Jennifer] One thing, not only just a big bill, and a waiver of liability, right? Yes. If there was a bug in the system, there’s a waiver of liability, so you will be still responsible to write big fat checks if something went wrong. Angel AI delivers all that in a fast pace with 100% warranty, right? That is the beauty of Angel AI. There’s no way of liability there.
[Pavan] Yes, exactly. As these cells learn and make decisions. Remember, I put a warranty on everything Angel AI does. So that way the warranty works, if Angel AI tells you something. So Jennifer had originated a loan with us and said that you can qualify for 10 million dollars, Jennifer. Okay. Now I’m on the hook at that point. All right. And then she put in the offer for 10 million. Purchase. Bought a 10 million house. I have to fund that loan. That’s my warranty.
[David] That’s bold. That is putting your money where your con into your, behind your technology in a way that’s I,
[Pavan] The way I say it, I put my money where Angel AI’s mouth is.
[David] Yeah. That’s a good way to put it. That’s a great put it. Jennifer, anything you wanna add to that? I think it’s, your contribution to this podcast has been so good today. I’m so glad you joined us. Final, it’s final.
[Jennifer] It’s a pleasure. The, again, I can’t imagine. Any operations person being able to run without a technology like angel AI. I can’t imagine how they can be in compliance and do everything without any buybacks. I can’t imagine that.
[Pavan] Yeah, if we just take a look at Jennifer’s loan. It is a number of problems. It’s like I said, her loan is not insurable or it’s not deliverable, right? And I’m pretty sure they delivered it to Fannie. It’s amazing. Fannie or Freddie, right? It’s that’s just one. No wonder the industry gets flooded with repurchase requests.
[David] Yeah, we’ve got to solve this. There’s so many systemic problems in our industry because of these, the complexities that we deal with. And you just brought up a really good example of one and but thank you so much, both of you final thoughts. Jennifer,
[Jennifer] It was a pleasure being here, David. Thank you.
[David] And I always love having you on Jen. I love having Pavan, but it’s wonderful to have you on. Like I love meeting his wife. Pretty. She is just a sweetheart. You are as well. Wonderful. People’s really smart. I love hanging with really smart people. So it’s really a joy to have you here. Pavan again. Thank you. Thought final thoughts.
[Pavan] Yeah, look at this beautiful Puerto Rico. The sun’s coming out again now and hopefully this not rain. Hopefully it’s not raining on Saturday.
[David] I hope not as well. Thank you so much. Both of you being here, Pavan, look forward to seeing you in PR and Puerto Rico,
[Pavan] One last thing for that stupid comedian at the, in the Trump rally, there is no, I don’t see any garbage back here, guys.
[David]We should have started out with that. Where’s all the garbage bags.
[Pavan] This is not a floaty out of the garbage. I love Puerto Rico. Oh, it’s a beautiful place. All right.
[David] Thank you so much. I appreciate you both being here.
[Jennifer] Thank you.
[Pavan] All right. Bye bye.
Important Links
- Angel AI Website
- SunWest Mortgage Website
- LinkedIn – Pavan Agarwal
- LinkedIn – Jennifer Vallinayagam
- Angel AI Diwali Registration
Pavan Agarwal is a renowned leader in the mortgage lending industry and a pioneer in bringing artificial intelligence to the financial markets. Agarwal serves as the President and CEO of Sun West Mortgage Company and Celligence International, LLC.