Candor Technology

Candor Technology, founded in 2018 by Thomas Showalter and Mark Hinshaw, operates as a provider of AI-powered mortgage underwriting and loan fulfillment solutions. The company is headquartered in Alpharetta, Georgia. Showalter, a former NASA scientist with extensive experience in Mortgage Decision Sciences Technology, identified an opportunity to apply his background to address long-standing inefficiencies in the mortgage industry. His Co-founder, Hinshaw, brings a comprehensive mortgage background and was appointed CEO in early 2024.

The company's core offering is the Loan Engineering System (LES), a patented automated underwriting engine powered by its CogniTech AI technology. This system emulates the critical thinking of a human underwriter to analyze loan data and borrower documents against investor guidelines. It processes thousands of data points to assess income, assets, credit, and identity, identifying exceptions and clearing conditions before a human underwriter reviews the file. The platform is designed to integrate directly into a lender's existing Loan Origination System (LOS). Candor's business model is providing its technology as a service to financial institutions such as brokers, banks, and independent mortgage bankers. The value proposition for these clients lies in significantly reducing loan manufacturing cycle times, increasing underwriter productivity by up to 400%, and minimizing repurchase risk. Loans processed through the system are backed by a warranty.

Since its founding, Candor has achieved several milestones. The platform, which debuted in August 2020, had processed over 250,000 loans by February 2021. The company has secured significant funding, including a $12.5 million Series A round in 2021 led by Arthur Ventures and a Series B round in 2024 led by Rice Park Capital Management. Candor's technology has processed over 2.5 million underwrites and a study of over 500,000 funded loans revealed zero repurchases. The company's offerings have expanded to include Candor PreQual for borrower pre-qualification, CandorPLUS (a hybrid machine/human solution), and Loan Quality Services (LQS) for post-close quality control.

Keywords: mortgage technology, automated underwriting, loan engineering system, fintech, AI in lending, mortgage automation, loan fulfillment, repurchase risk mitigation, CogniTech, mortgage decision sciences, loan origination system, mortgage underwriting software, quality control mortgage, Thomas Showalter, Mark Hinshaw, financial technology, underwriting automation, loan processing, mortgage compliance, credit risk analysis