Candor Technology is excited to announce its newest product feature, Candor Pre-Check. Candor Pre-Check is a data accuracy tool designed to identify discrepancies between the loan application and the documents provided by the borrower.
Powered by Candor’s award-winning Loan Engineering System (LES) and its patented CogniTech Expert System Technology, Candor Pre-Check improves data quality earlier in the loan process, resulting in fewer underwriting conditions and improved efficiency.
Candor’s LES platform has performed over 2 million hands-off underwrites, with zero repurchases to date. Candor clients have reported increased underwriter productivity by 400%, decreased turn-times by at least 10 days, and an increased pull-through rate of 15%. Candor estimates the reduction in partners’ repurchase exposure goes from 12bps to 1bps when they use the LES.
“At Candor, we strive to create best-in-class technology to benefit the consumer, the lender, and the mortgage investor,” said Candor CEO Tom Showalter. “The Candor Pre-Check feature is one more tool lenders can use to improve their loan quality, become more efficient, and win in every market cycle.”
ABOUT CANDOR TECHNOLOGY
Candor Technology’s Loan Engineering System is in a category all its own: Mortgage Decision Sciences Technology. The one-of-a-kind technology automates the costliest and most time-consuming portion of origination: the credit & information risk assessment conducted by underwriters. With the power to automate the intellect and judgment required to make underwriting decisions, lenders can consistently originate high-quality, high-margin mortgage loans, without bias. With Candor Technology, lenders get the velocity to scale to meet any market cycle demand with no change in personnel. Calculate Candor ROI here.
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