New feature to enhance efficiency and improve loan quality

Candor Technology is excited to announce its newest product feature, Candor Pre-Check. Candor Pre-Check is a data accuracy tool designed to identify discrepancies between the loan application and the documents provided by the borrower.

Powered by Candor’s award-winning Loan Engineering System (LES) and its patented CogniTech Expert System Technology, Candor Pre-Check improves data quality earlier in the loan process, resulting in fewer underwriting conditions and improved efficiency.

Candor’s LES platform has performed over 2 million hands-off underwrites, with zero repurchases to date. Candor clients have reported increased underwriter productivity by 400%, decreased turn-times by at least 10 days, and an increased pull-through rate of 15%. Candor estimates the reduction in partners’ repurchase exposure goes from 12bps to 1bps when they use the LES.

“At Candor, we strive to create best-in-class technology to benefit the consumer, the lender, and the mortgage investor,” said Candor CEO Tom Showalter. “The Candor Pre-Check feature is one more tool lenders can use to improve their loan quality, become more efficient, and win in every market cycle.”