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