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MPA Case Study: Underwriting meets forensics to boost mortgage speed

Thomas Showalter, Candor Technology CEO, talks MPA through an approach that’s gaining traction

February 28, 2022

Candor Technology exists to improve the economics of making a mortgage, with the fintech startup’s AI platform specifically designed to duplicate the critical thinking and problem-solving abilities of a seasoned underwriter and a forensic auditor.

It’s a combination that’s designed to be immensely effective. “When you combine those two things, what you get is a fully underwritten loan that can survive any forensic audit,” explains Thomas Showalter (pictured), Candor’s founder and CEO.

The Atlanta-based company’s technology and approach has gained steady traction since its 2018 founding. Today, more than 60 people work for Candor. It has raised $5 million in seed financing and conducted a $12.5 million Series A round led by Arthur Ventures. Earlier in February, Candor also announced that it had signed its 60th client – Churchill Mortgage – since its Loan Engineering System (LES) platform went into production in September 2020.

Candor’s target market is quite focused.

“The target market is a mortgage lender,” Showalter explained. “Typically, within a mortgage lending shop it’s the chief operating officer, the person that has to make the mortgage, that likes what we do.”

Read the entire article here.