Candor Technology Wins Patent
September 9, 2022

MPA Article: Candor Technology secures patent for critical thinking product

It models an underwriter and forensic auditor’s thinking process

September 21, 2022

Candor Technology announced it has been granted a patent for its CogniTech™ Expert System Technology which models an underwriter and forensic auditor’s critical thinking in the mortgage lending space.

Using Candor’s Loan Engineering System (LES), Candor clients have reported increased underwriter productivity by 400%, decreased turn-time by at least 10 days, and increased pull-through by 15%. With this data, Candor estimates the reduction in repurchase exposure goes from 12bps to 1bps.

MPA reached out to Candor CEO Tom Showalter (pictured) to learn more. “Our infrastructure is not only just modeling an underwriter and modeling a forensic auditor,” he said. “It’s also creating an inference network. “We not only go through the actions, but we translate those into mathematics that leads to us understanding how much we’ve reduced repurchase exposure and how much we’ve created the likelihood of this borrower getting a loan. So we have a network that creates estimates, it doesn’t just go do stuff. It actually leads to an inference network.”

Read the entire article here.