Frequently Asked Questions (FAQ)

General Questions

  • How can I track conditions?

    • Candor and Lender conditions are added to your LOS
    • Lender conditions are your underwriting team’s responsibility to review and clear
    • Candor conditions will be cleared by our system once we have processed the applicable documents and/or data

  • Can Candor clear lender conditions?

    • Candor clears irrelevant Lender conditions caused by switching from DU to  LPA, data changes in the 1003, etc., and then replaces them with new conditions containing the updated data.

  • Can there be more than two borrowers on one loan application?

    • No, Candor only supports up to two borrowers on a joint application with joint credit. Candor does not support multiple URLAs

  • Can there be a non-occupying borrower on an application?

    • No, Candor does not support non occupying co-borrowers 

  • Will an underwriter need to review a Candor loan?

    • Yes, an underwriter will still need to review the loan and clear Lender conditions

  • How should I enter employer information on the URLA if my borrower was a student or unemployed?

    • Student: Enter “student” in both the employer and position on the URLA 
    • Unemployed: Enter “unemployed” in both the employer and position on the URLA 

  • How should I enter employer/financial institution information on the URLA if there is a mismatch between documents?

    • To match two documents with different employer or financial institution names, you can utilize a forward slash / or DBA between the names on the URLA 
    • Paystub/W2 example: Enter Amazon Web Services/ Amazon Inc or Amazon Web Services dba Amazon Inc on the URLA 
    • Financial Institution example: Enter Goldman Sachs/ Marcus or Goldman Sachs dba Marcus 

  • I received an error popup when running Candor, what should I do?

    • Most error popups occur due to either internet or LOS lag. Try restarting your LOS and running Candor again 
    • If the error persists, please reach out to our Candor Client Success Team 

ICR Questions

  • What does ICR stand for?

    • ICR stands for Intelligent Character Recognition. It is the process of converting PDF documents into data that is then processed by Candor to clear conditions and perform calculations

  • How long does the ICR process take?

    • The average ICR turn time is 15 minutes. This time may fluctuate depending  on the number of documents and pages sent for processing 

  • Does Candor ICR other document types such as jpegs?

    • No, Candor will only ICR PDF documents

  • How will I know when ICR has completed?

    • Users will receive an ICR completion email when ICR has completed 
    • Users can also check the ICR Status on the Candor form. It will display  “Pending” when documents are out for ICR and “Complete” when the ICR process has completed 

  • Where does Candor pull PDF documents from?

    • Candor is configured to your organization's document placeholders for any documents we can ICR 
    • If your LOS is Encompass, the document must be marked as current version 
    • Please refer to the Candor Eligible Loans document for more detail on the documents Candor can process

  • What information is required in my uploaded documents?

    • PDF documents sent for ICR must be clear and complete documents 
    • If a document is being used to perform a calculation or clear a condition it must have the relevant information a human underwriter would need to perform the same function

  • Can Candor “unsee” a document that has been ICRd?

    • No, once a document has been through the ICR process, it cannot be unseen by removing the document from your placeholder

Income Questions

  • What is Candor’s income hierarchy?

    • D1C/AIM→WVOE→Paystubs and W2

  • What does Candor read off paystubs?

    • Candor will only calculate base income off paystubs 
    • We will detect variable or fluctuating hours and fire a condition for a WVOE 
    • Candor will read “support”, “alimony”, “garnishment”, “garn” and “loan” from a paystub 

  • How does Candor handle variable income?

    • Candor will require a WVOE to calculate bonus, OT, commission, or other  income when listed on the URLA 
    • Candor does not utilize end of year paystubs for variable income types

  • Does Candor process pension income?

    • Candor will validate pension income via a bank statement deposit. Candor does not process pension award letters or 1099s 

  • Does Candor process social security income?

    • Yes, Candor will process social security income via award letters, SSA 1099s and bank statement deposits 
    • The URLA must list either the social security income amount from the award letter or the bank statement deposit

  • Does Candor gross up social security income?

    • No, Candor does not gross up social security income

  • Does Candor read multiple SSA award letters?

    • Yes, Candor can read multiple SSA award letters per borrower

  • Does Candor process future income?

    • No, Candor does not process future income

  • Why is my LIV page blank?

    • The LIV page populates once ICR results complete. Check the documents  processed page to see if your income document has completed ICR 
    • If the income document is listed on the documents processed page, ensure that the URLA employer matches the employer on the documents processed

Asset Questions

  • Does Candor analyze asset statements for large deposits?

    • Candor analyzes checking and savings account statements for large deposits over 50% of the qualifying income  
    • Candor does not analyze retirement or stock account statements for large deposits. This is a future enhancement 

  • Does Candor analyze asset statements for recurring debt?

    • No, Candor does not analyze asset statements for recurring debt 
    • Candor can fire a general lender condition stating for your underwriting team to review the assets for recurring debt should you choose to implement this overlay 

  • Why isn't my asset statement condition clearing?

    • Check the documents processed page to ensure the asset statement completed ICR 
    • If the asset statement is listed on the documents processed page, ensure that the URLA institution and account number match the institution and account number on the documents processed

  • Does Candor read annuities or life insurance?

    • No, Candor does not read annuity or life insurance documentation