[CS] Case Study
First Merchants Bank builds a more scalable, consistent mortgage process with Candor.
First Merchants Bank set out to modernize its mortgage operations with a simple goal: scale efficiently without adding headcount while improving consistency across a growing, distributed team.
[01] The Company
First Merchants Bank is a full-service bank with a growing mortgage origination footprint. After a major acquisition expanded that footprint and brought together teams from multiple locations, the bank faced a familiar challenge: multiple teams, processes, and underwriting approaches made it harder to maintain speed and consistency.
[02] The Challenge
Scale without adding staff
Growth through acquisition meant different people, different locations, and different ways of doing things. The bank needed to standardize the process and continue doing more — without expanding headcount.
[03] The Solution
A holistic, end-to-end engine
Steve Jones evaluated OCR tools, ICE income and asset analyzers, and Lender Toolkit — but each automated only one piece of the workflow. Candor stood out by underwriting the loan to Fannie and Freddie guidelines, pushing conditions into the file, and starting to clear them. That end-to-end capability aligned directly with the bank’s goals of scalability, consistency, and fewer human touchpoints.
“When I looked at the market, a lot of tools handled one piece of the process. Candor took a more holistic approach. It doesn’t just help with calculations or document recognition — it underwrites the loan to Fannie or Freddie guidelines, pushes conditions into the file, and even starts clearing them. That’s where the real lift comes from.”Steve JonesAVP, Mortgage Operations // First Merchants Bank
[04] Results
Measurable gains, early.
First Merchants began testing Candor in October 2025 and ramped quickly: 21 loans in January, 75 in February, 110 in March, and a projected 140+ in April 2026. Candor-eligible loans represented roughly 55% of the Q1 pipeline, and human-underwritten loans still required three or more touches at ~4.5 hours each. The team’s next target is just two hours per Candor loan.
“We’re saving almost two hours per file, and we’re not even great at it yet. We’re still building proficiency and trust with the technology, but we’re already seeing fewer touches and getting loans to the closing table faster. You have the answer to the test up front — before the borrower even signs, you already have a strong sense of what’s needed to get to closing.”Steve JonesAVP, Mortgage Operations // First Merchants Bank
[05] What’s Next
A strong foundation for future efficiency.
Jones is quick to note that adoption is as much about education as technology — a deliberate rollout, starting with select team members, has built internal confidence while refining the process. The more comfortable the sales, processing, and underwriting teams get with Candor, the cleaner the files. First Merchants believes its biggest efficiency gains are still ahead.
“First Merchants Bank is a great example of what’s possible when a lender commits to the platform and trusts the process. We’re proud of the results they’re already seeing and excited about what comes next.” — Ryan Edmonds, CEO, Candor Technology
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