Mortgage lender Candor has laid off an undisclosed number of workers as part of a “restructuring” of the company.
Founded in 2016, Candor is a startup that uses artificial intelligence to underwrite and originate loans. The company had raised $21 million in venture capital as of last year.
Candor’s layoffs come as the mortgage industry is facing challenges due to the COVID-19 pandemic. The pandemic has caused a sharp decline in home sales and has led to an increase in mortgage defaults.
Candor is not the only mortgage lender to have layoffs in recent months. Quicken Loans, the largest mortgage lender in the United States, laid off 1,800 workers in April.
Mortgage lender Candor has laid off an undisclosed number of workers as part of a “restructuring” of the company.
Founded in 2016, Candor is a startup that uses artificial intelligence to underwrite and originate loans. The company had raised $21 million in venture capital as of last year.
Candor’s layoffs come as the mortgage industry is facing challenges due to the COVID-19 pandemic. The pandemic has caused a sharp decline in home sales and has led to an increase in mortgage defaults.
Candor is not the only mortgage lender to have layoffs in recent months. Quicken Loans, the largest mortgage lender in the United States, laid off 1,800 workers in April.
You can read this full article at: https://www.housingwire.com/articles/mortgage-ai-firm-candor-conducts-layoffs/(subscription required)
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