Mark Hinshaw, CEO of Candor Technology, stated, "There is no other automated underwriting technology that helps lenders make decisions on FHA loans like ours. We're excited to lead the way with this groundbreaking technology." This highlights Candor's unique position in automating FHA loan underwriting, emphasizing its innovative approach in the mortgage tech industry.
Hinshaw elaborated on the capabilities of the Loan Engineering System, saying, "Our LES capitalizes on the power of AI, enabling originators to make faster, more confident decisions, ultimately enhancing the borrower experience." This signifies how the integration of AI is improving efficiency in the underwriting process.
Sara Knochel, COO of Candor, explained how the technology functions, stating, "Clients use the technology for an initial conditioning at the point of sale and an underwrite later in the fulfillment stage." This shows the practical application and benefits of the system in the loan processing workflow.
Hinshaw mentioned the rigorous testing process, saying, "We've been in beta with FHA for several months across five different lenders. They shoot holes with it and hit us back with defects, and then we code until we get it right." This illustrates the commitment to ensuring a robust and reliable technology solution.
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