UpEquity

The Problem: Uncertainties in Underwriting & Loan Approval

We all know the loan manufacturing process is full of uncertainty. Getting that loan approved? It’s not as standardized of a process as those outside of the mortgage industry might believe.

The team at UpEquity knew there had to be a better way. And so they began searching for a partner who could help them improve the underwriting and loan approval process. That is when they first heard about Candor Technology, Inc. and its Loan Engineering System platform.

The Solution: Candor LES Adds Certainty to Underwriting

Like any vendor out at trade shows making big promises, Candor LES

sounded appealing to the stakeholders at UpEquity on paper. A decision

making platform that can not only create but clear loan conditions and

help secure approval in record time. What’s not to like? Another key

selling point of Candor for UpEquity was its ability to integrate with — and live inside of — MeridianLink, their LOS of choice.

“A lot of software companies require you to take your existing system, rip it out, throw it away and retrain everybody,” Pruitt said. “And once you’re all set up in this new system, you’ll be in ‘happy land’ — everything will be better. Man, that’s a hard sell. Meanwhile, Candor says, hey you got this LOS, right? Yeah. You like it? That’s great. Don’t change your LOS. Our software works with it.”

Even though UpEquity is still in

the early stages of its Candor

implementation, they see an

investment in Candor LES as an

investment in the future and a

huge leap forward.

“Historically, the mortgage

industry has operated within a

boom and bust cycle,” Pruitt said. “The great promise of

Candor is to smooth out the boom and bust cycle. That way you don’t have to staff up

when the next refinance boom hits because so much of the work is automated.”

On top of that Candor takes

the guesswork out of the loan

approval process. This has allowed UpEquity to find even greater success in helping homebuyers compete with cash offers.

“In the past, mortgage lenders thought it was fine to take 30 days or even 60 days to close a loan. But in order to compete with cash offers, you need to be fast."

“We quickly found out that Candor just gets it right,” Pruitt said. "If you’re a mortgage lender that cares at all about speed, you should be using Candor, full stop.”