Key facts
- Candor Technology has launched Candor DI, a document intelligence engine.
- The tool automates mortgage document intake, indexing, classification, and routing.
- Candor DI compares extracted borrower data against the URLA, credit report, and AUS findings.
- Discrepancies are flagged with a source-level audit trail.
- The product is built to comply with Fannie Mae and Freddie Mac AI use guidelines.
- The Federal Savings Bank reported time savings of 15-20 minutes per loan file.
Candor Technology has introduced Candor DI, a new document intelligence engine designed to automate and enhance the mortgage document intake process. The tool, available as a standalone product, API, or embedded within Candor's existing Loan Engineering System (LES), indexes, classifies, and routes documents into a lender's loan origination system (LOS).
Unlike traditional intake tools, Candor DI automatically splits, renames, and routes documents. It then compares extracted data against the Uniform Residential Loan Application (URLA), credit report, and automated underwriting system (AUS) findings, flagging any discrepancies with a detailed audit trail. This process aims to identify errors and omissions early, before a loan file reaches the underwriting stage.
Ryan Edmonds, CEO of Candor Technology, stated that validating data across sources at intake can reduce cycle times, minimize processor rework, and enable lenders to scale operations without increasing staff. The company positions Candor DI as a solution to mitigate risks associated with bad or inconsistent data, such as representation and warranties risk and downstream quality-control issues.
The product is specifically built to align with Fannie Mae's LL-2026-04 and Freddie Mac's Guide Section 1302.8 concerning AI use, incorporating documented validation controls for data extraction. An early user, The Federal Savings Bank, reported saving 15 to 20 minutes per loan file due to the automated document extraction, organization, and renaming capabilities.
Candor's broader LES platform has processed over 3 million underwrites on nearly 600,000 funded loans. The company plans to leverage Candor DI as a foundation for future products, including a URLA Updater designed to reconcile source document data and directly update URLA fields within the LOS. Candor serves over 100 financial institutions nationwide.