Has Candor Bootstrapped the Next Billion Dollar Startup?

The role of machine intelligence in matching a borrower to the best-fit investor.
November 5, 2020

The Mortgage Industry’s Next Unicorn Has Been Quietly Gathering Heavy Hitter Clients To Bring Its Loan Engineering System To Market In A Big Way

ATLANTA, Ga., October 30, 2020 – Candor has been quietly onboarding some of the mortgage industry’s biggest, most respected names to bring its Loan Engineering System to market. Following a 50,000 loan stress test, Candor has demonstrated it can fully underwrite loans with great integrity and without absorbing any underwriting resources. And those 50,000 loans are backed by $3.8B in defect insurance from Lloyd’s of London, eliminating both scratch and dent and repurchase risk.

“Candor addresses the most significant and hard to solve problem in mortgage manufacturing: modeling an underwriter’s critical thinking,” said Thomas Showalter, Candor’s CEO. “Candor is the only mortgage FinTech platform to successfully institutionalize underwriter thought life in a machine. Using our proprietary, patent pending form of Knowledge Engineering, Candor successfully underwrites a loan to the highest level of integrity with virtually no human assistance.”

Candor’s clients report per loan cost reductions of >$1,000 and a cycle time reduction of ~20 days, a market demand left unanswered by the glut of offerings in OCR, data validation, and other digitization tools.

“Candor is our client’s secret weapon,” said Brandie Young, Candor’s CMO. “It’s a first mover advantage they play close to the vest. The low cost to implement levels the playing field between mega and small to mid-size lenders. Given the broad market appeal, I see Candor evolving into a core lending technology over the next several years.”

Self and Angel-funded Candor, an EBITDA positive company, continues to attract investment dollars as it is poised to address a huge multi-dimensional market with its proprietary, highly effective productivity solution. The addressable market exceeds $3.1B in processing fees and more than $1.4T in insurance coverage. Candor is structured for aggressive growth and profitability and looks forward to a bright future.