Candor Technology has announced an additional feature to its Loan Engineering System, The 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,” said Candor’s CEO Tom Showalter. “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.