48
CANDOR
INTRODUCES
NEW LOAN
SCORING ENGINE
Candor Technology has announced an
additional feature to its Loan Engineering
System, e Candor Metascore, which
indicates the overall quality of a loan
manufactured by Candor's machine.
To produce the Metascore, all loan data
is first run through the firm's 45,733 pivot
point architecture to accurately assess investor
guideline eligibility, then through an engine
that conducts more than 1,100 crosschecks to
identify and mitigate defects. All underlying
metadata used during the autonomous process
are saved to a blockchain-type database. A
Metascore of 85 or higher will trigger the
eligibility for a defect insurance policy from a
major international insurer.
"We developed the Metascore to
benefit lenders manufacturing loans in the
primary market and to benefit loan buyers
in the secondary market," Candor's CEO
Tom Showalter said. "If a loan has a high
Metascore, a secondary market analyst can
be confident a rigorous credit analysis was
conducted, that guideline eligibility has
been met, that the loan data faithfully reflect
the status of the loan, and that loan can be
efficiently priced."
Candor built its engine using aerospace
principles, to simultaneously assess guideline
eligibility and conduct cross-checks across
multiple points of corroboration to identify
and mitigate defects, ensuring integrity of the
loan and the underlying metadata.
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