Candor Technology, Inc., a marketing firm specializing in automated artificial intelligence (AI) underwriting and decisioning for mortgage lenders, recently announced a direct integration with Argyle, a provider of consumer-directed verification of income, employment and asset solutions, according to a release.
The integration is the first to bring direct-source payroll-based income and employment data and supporting documentation to Candor’s loan engineering system, where it can be used to automate income analysis and deliver warranted underwriting decisions in under 60 seconds.
“Our integration with Argyle removes unnecessary hurdles between borrower data and a warranted decision,” Candor Technology CEO Ryan Edmonds said in a release. “By making payroll-based income and employment data available directly within Candor, we can now deliver a deterministic underwriting decision in under 60 seconds, providing speed, accuracy and repurchase protection in one seamless workflow.”
Argyle Senior Vice President of Revenue John Hardesty addressed the advantage this alignment will provide consumers.
“Argyle empowers consumers to securely share data directly from their payroll, other income-related, and bank accounts to authorized lenders," he said. "Integrating that direct-source data straight into Candor's automated decisioning means lenders no longer have to wait — the data through Argyle and the Candor decisioning happen together.”
Through the integration, borrowers use Argyle to pass real-time, consumer-permissioned income and employment data and supporting documentation directly into Candor’s decisioning technology, which evaluates the information against government-sponsored enterprise guidelines and investor overlays to calculate qualifying income and issue or clear conditions instantly, without relying on document extraction.