Candor, a mortgage artificial intelligence firm that has pioneered automated underwriter technology, announced a $12.5 million funding round, led by Arthur Ventures.
Nearly a year ago, when Candor vaulted onto the scene, mortgage lenders were desperate to hire underwriters. Lenders offered signing bonuses to qualified underwriters and base salaries of $150,000, stunning observers.
Shortly thereafter, Candor emerged. The firm promised to automate much of the underwriting process by making income, asset and lending decisions. Their automated underwriting tech augments human underwriters’ capabilities, allowing underwriters to boost their productivity.
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