ATLANTA--(BUSINESS WIRE)--Candor LES, LLC, a subsidiary of Candor Technology, has launched CandorPLUS™, the first and only patented technology-driven mortgage loan fulfillment service that spans the entire loan lifecycle from disclosures to closing. CandorPLUS™, which incorporates Candor’s Loan Engineering System (LES), accurately and efficiently handles manufacturing tasks associated with a mortgage loan, delivering decision-ready loan files with speed and machine precision. This allows lenders to instantly scale and deliver concierge-level satisfaction to borrowers regardless of fluctuating market volumes.
Using CandorPLUS™, licensed lenders can streamline their processes thanks to the solution’s lean manufacturing methods and enhanced process analytics. In addition, the offering allows lenders to maintain a competitive advantage by cutting down on the cost and time it takes to close a loan.
Further, all of this can be done while also reducing risk exposure. Candor’s Loan Engineering System, which houses the patented CogniTechTM engine, has ZERO repurchases after 2+ million underwrites. Output is backed by a limited warranty and if necessary, Candor can assist in the repurchase defense of these loans.
“In today’s mortgage market, employing smart technology to enhance speed and reduce costs is critical to success,” said Candor CEO Tom Showalter, a former scientist for NASA and winner of numerous industry awards for his work to advance Mortgage Decision Sciences Technology.
“At Candor, our primary objective has always been to find new and innovative ways to leverage complex expert systems technology to reduce the cost and time it takes to manufacture a mortgage loan,” Showalter continued. “We are excited to bring CandorPLUS™ to the market and show our lender clients the multitude of ways this solution can enhance their operations.”
ABOUT CANDOR TECHNOLOGY
Candor LES, LLC is an operating subsidiary of Candor Technology Inc. Founded in 2018 with a mission of revolutionizing the mortgage industry, Candor Technology continues to make great strides in helping every mortgage lender generate quality loans while simultaneously improving productivity and reducing manufacturing cost.
ABOUT THE LOAN ENGINEERING SYSTEM AND COGNITECH™
The Loan Engineering System (LES) ingests information and documents from a lender’s Loan Origination System (LOS), corroborates the data and performs calculations to not only create, but clear loan manufacturing conditions in the LOS in accordance with guidelines. CogniTechTM, which earned a U.S. Patent last year, utilizes expert systems to model the critical thinking of an underwriter, data scientist and forensic auditor to assist lenders in the automation of the underwriting process.
