February 28, 2023
Candor LES, LLC, a subsidiary of Candor Technology, launched CandorPLUS, which it touts as the first and only patented technology-driven mortgage loan fulfillment service that spans the entire loan lifecycle.
CandorPLUS, which incorporates Candor’s Loan Engineering System (LES), handles manufacturing tasks associated with a mortgage loan and delivers decision-ready loan files.
This allows lenders to instantly scale and deliver concierge-level satisfaction to borrowers regardless of fluctuating market volumes.
Using CandorPLUS, licensed lenders can streamline their processes thanks to the solution’s lean manufacturing methods and enhanced process analytics. In addition, the offering allows lenders to maintain a competitive advantage by cutting down on the cost and time it takes to close a loan.
Candor’s Loan Engineering System, which houses its CogniTechTM engine, has zero repurchases after 2 million-plus underwrites, according to the company.
Output is backed by a limited warranty and if necessary, Candor can assist in the repurchase defense of these loans.
“In today’s mortgage market, employing smart technology to enhance speed and reduce costs is critical to success,” Candor CEO Tom Showalter, a former scientist for NASA, said in a release. “At Candor, our primary objective has always been to find new and innovative ways to leverage complex expert systems technology to reduce the cost and time it takes to manufacture a mortgage loan. We are excited to bring CandorPLUS to the market and show our lender clients the multitude of ways this solution can enhance their operations.”
Candor Technology Contact
Gaffney Austin LLC