Nima Ghamsari: Yes, good question. Thanks, David. Couple of things, one, we definitely are seeing some of our customers gaining market share in our numbers and taking — and that’s one piece. And we mentioned that earlier and that’s how we’ve really maintained and plan to grow market share over time, on top of signing new customers. The other thing I would say is, they are using this time to get more ready to scale and that’s doing things like digital closing. So you’re not sending paper back and forth, with title companies. And there’s a lot of those things, not only help them, but help us not on the market share side, but help us on the revenue per funded loan side. So, those kinds of things are the baseline and then some of the new logos. I also mentioned that we had one of the largest banks in the country, as a potential new logo for us. That’s in the pipeline. And so we’re seeing a lot of interest across the board.
Amir Jafari: And David, just to answer the first part of your question, with regards to the 2026 number, we still feel good about what we shared at Investor Day across both mortgage in terms of the long-term outlook, and to your point, we obviously, gave those scenarios intentionally and also with regards to consumer banking reiterated, just by what we shared in the prepared remarks.
Bryan Michaleski: Our next question comes from Ryan Tomasello with KBW. Ryan, you can go ahead and unmute
Q – Ryan Tomasello: Hi everyone. Thanks for taking the questions. As we think through the components of the fully loaded revenue per funded loan opportunity in mortgage, are there certain areas you think are more actionable near term. For example, income verification product seems pretty interesting relative to the incumbent solutions out there. Just trying to think about, what are some of the low-hanging fruit opportunities there to grow, revenue per loan and just how you’re thinking about the income verification opportunity in particular?
Nima Ghamsari: Well, just to call out, we do have a really good near-term pipeline of Blend income products. And that’s a nice product, because it’s very simple to turn on. It’s a flip of a switch and it pulls in new revenue for us in, within a quarter of them and signing that deal typically. But I think where we see the most near term upside Ryan, is on digital closing side. And in particular and you know it’s and remote online notarization is becoming very important for our customers. And we’re seeing improvements around even states expanding their coverage of what they allow. California had a big change earlier this year. And our customers are taking note because it drives real savings for them. I kind of said this in the prepared remarks but one of our biggest customers is doing a standard rollout around every single loan going towards remote online notary by default.
And, of course, there are exceptions and the consumer can opt out if they really don’t want to do that but those are really good for the consumer. It’s really good for the bank or lender and of course really good for Blend as well.
Ryan Tomasello: Great. Thanks for that color Nima. And then just as a follow-up on the remaining performance obligations included clearly strong growth in the RPO metric, $36 million sequentially. Just says the market maybe starts to focus more on that disclosure going forward. Can you just help us understand what is included in that metric given the different contract structures you have, for example, how the success-based pricing on the mortgage side is factored in there versus platform fees. Just as we think about the visibility we can get into your growth profile out of that metric going forward?
Amir Jafari: What you’re seeing in it Ryan is exactly similar. You described with regards to is indicative of customers that we’re signing up whether it’s renewals and net new logos, it is and it illustrates both what we’re seeing from a commitment perspective given our unit economic structure and our revenue model also platform fee. So the point you mentioned, and we’ve shared this historically, we obviously saw an incredible quarter this last quarter in terms of what we shared. We expect this to continue to grow as you see it just us continue to execute.
Bryan Michaleski: Our next question comes from Joseph Vafi with Canaccord. Joe, you please go ahead and unmute.
Joseph Vafi: Can you guys hear me?
Nima Ghamsari: Yeah, we can. Go ahead, Joe.
Joseph Vafi: Sorry about that. Probably focused on the consumer banking sector a bit here for a second and kind of talk about what are some of the dynamics going on here with some of the strong recent signings. You know, obviously, there’s a continued war for deposits going on out there amongst financial institutions as consumers look for the best interest rate and come and banks look not to have their customers turn those deposits. Wonder if you could balance that versus product offering versus the competitive landscape there. Provide us a little more color on how you’re winning some of these new clients?
Nima Ghamsari: Yeah, it’s a good question. And I think that the hardest parts of opening a new deposit account I’ll break into three different components. The first part is you have to be really good at fraud verification. And we have connections from fraud providers to some of our partners. We’re not a fraud engine ourselves. We connect to some of the best ones in the market and we do quite a bit of orchestration around that. So that’s one piece. The second piece is actually funding and making that your primary deposit account that’s something very, very important to our customers and something that we help with. We have the ability to fund in so many different ways now debit cards ACH, direct bank connection, wire transfer and those things are all built into the Blend platform now to maximize deposits.
