USA Mortgage

The Problem: A Need for Quality & Adaptability

“During the crazy homebuying surge that happened during the height of the pandemic, the whole industry couldn’t get enough underwriters. We were buried in volume,” said USA Mortgage VP of Underwriting Laurie Duda. “After going through that experience and learning from it, we wanted to figure out how to circumvent or get ahead of the problem.”

Duda worked with others on her team to review underwriting technology solutions that were available on the market. That’s when new technology from Candor Technology, Inc. caught her attention. Candor’s Loan Engineering System (LES) seemingly checked the right boxes ... and then the market shifted. As interest rates rose, the booming housing market slowed down.

The Solution: Innovative Tech Cross-Checks Data & Clears Conditions

After meeting with Candor’s team, Duda learned that Candor LES not only enhanced the underwriting process, but it could be implemented at the point of sale to help identify whether or not a loan had any unexpected issues, adding certainty to the loan decision making process.

Once USA Mortgage decided to invest in Candor LES, it began rolling out the technology one branch at a time with thorough training included in the rollout. Duda said it took approximately two months to get all of her branches set up with and trained on the new technology.

Since implementing Candor

LES into its process, USA

Mortgage has seen:

A 25% increase in underwriter productivity, 10-DAY reduction in cycle time on conventional loans, 24% lift in loan production revenue, and NO report quality issues on Candor files.

“Candor absolutely has helped

transform our business,” Duda said. “We’ve seen faster turn times and overall loan quality has improved. We have also been able to compete with cash offers.”

“Candor was the only technology capable of conducting a complete

underwrite. It was also the only solution we found that was smart enough to validate a file based on guidelines.”

Future-Proof Your Business With Candor LES

Don’t be a casualty of the shifting mortgage market. With Candor, you can build an infrastructure that’s immune to margin, capacity and staffing challenges.