This white paper introduces a CFR algorithm developed primarily for orthogonal frequency division multiplexing (OFDM) systems, and describes how to implement it efficiently using FPGAs. The resulting low-latency, high-performance, standard-compliant design significantly reduces the PAR of the output signal, leading to improved PA efficiency and reduced cost. Although this white paper uses WiMAX as an example, the paper should interest anyone developing OFDM-based wireless systems, including LTE, UMB, and 4G.