Hallmark Home Mortgage

The Problem: Rapidly Rising Loan Origination Costs

“We’re constantly looking for ways to reduce that cost while also acquiring new tools and resources for our team members to use.”

After hearing from colleagues at a conference that process efficiencies introduced by Candor could potentially help reduce origination costs, Osborne decided to investigate. “I was a little intrigued,” Osborne said. “I went out and did my research about Candor, signed up for a demo and was completely blown away by what I saw ... but I didn’t believe it.”

The Solution: Candor LES Helps Reduce Origination Costs

Osborne noted that getting Candor LES integrated into Encompass only took a few days, “it was basically turning it on,” but that Hallmark Home Mortgage took its time rolling the system out.

“I started out by running some loans through Candor and only looping in a couple of people in senior management,” Osborne said. “I’ve been in underwriting for 25 years. I thought there was no way this platform could catch everything a human being can. It was actually eye opening because Candor was catching things that some of my underwriters were missing. That’s how we built that trust. We spent a good 60 to 90 days just throwing everything we could at it.”

Since implementing Candor

LES into its process, Hallmark

Home Mortgage has seen:

A 7-to-12-Day shorter cycle time, 1 Day or Less* borrower surety, Faster & cleaner loan approvals and improved

overall loan quality.

Osborne also said that Candor LES has given Hallmark Home Mortgage’s underwriters more time to spend on heavier files, such as FHAs, VAs, and manual underwrites, without feeling rushed. Meanwhile, loan officers feel like they are more involved in the decision-making process.

“Candor helped us redesign our entire loan manufacturing process,” Osborne said.

*In most instances. Results vary by loan.

“We managed to eliminate a lot of the queues a loan gets stuck in. Now we’re automating all of that and for our conventional loans the borrower often gets approval before the processor even sees the loan.”

Change the Way You Do Business, With Candor