[CS] Case Study
American Pacific Mortgage gains a competitive edge with the Candor partnership.
Mortgage lenders can no longer settle for “good enough,” especially in today’s rapidly shifting marketplace. APM quickly learned that Candor is a technology company it can trust — one that listens to feedback and improves its product in a way that benefits all parties involved.
[01] The Company
American Pacific Mortgage (APM), a leading independent mortgage bank, has been helping customers reach their homeownership goals since 1996. The organization employs more than 1,700 licensed loan advisors and maintains over 200 branches across the United States.
[02] The Problem
Document analysis slows loan progress
“We’re always on the search for innovative technology that integrates well into our existing platforms,” said SVP of Operations Sean Lamb. Candor’s LES caught APM’s attention for its ability to analyze data and perform cross-checks with high accuracy while clearing conditions. “I wanted technology that could look at the documentation for my loan processors and underwriters, so they could better use their time elsewhere — including on more complex files.”
[03] The Solution
Candor LES creates new efficiencies
“Our team meets with Candor on a weekly basis. We’re in high contact and they attentively listen to, acknowledge and follow up on our feedback.” APM worked with Candor and a peer group to determine how to best use the LES. “If I get ‘Candor cleared’ it only takes my underwriter 50 to 55 minutes to look at property details and clear to close. My Candor-clear underwriters can do six files a day.”
“The defining point for our team was when we realized we could use Candor LES up front, as a production tool, versus trying to insert it directly into the underwriting process. On many loans, Candor LES can actually do its work before they even get to an underwriter.”
[04] Results
Cycle-time reduction & productivity boost.
“The quicker you take your borrower off the market, the less chance they’re going to shop around somewhere else. It all comes down to cycle time and productivity. We’re not looking for solutions to replace people, but ones that make their jobs easier.”Sean LambSVP of Operations // American Pacific Mortgage
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