Cogent QC Systems: The Industry Leader in Mortgage Quality Control and Compliance Software

Cogent’s award-winning suite of mortgage quality control and mortgage compliance applications allows lenders to perform quality control better, faster and at lower cost.

Deployed by over 100 clients, including some of the top lenders in the United States, Cogent QC Systems are widely recognized as the best mortgage quality control and compliance audit applications available, guiding the loan quality control of over $1 trillion in annual mortgage originations and 4 million servicing records.

Since 1991, we have focused on developing intelligent technology for quality control, introducing several innovations that have now become industry best practices. Our pioneering statistical sampling methodology, workflow integration, reporting methods, and specialized modules have helped mortgage lenders not only to optimize quality but to enhance profitability. Cogent is a Mortgage Technology Top 25 Vendor and a winner of the magazine’s Fix-It Award.  


Cogent QC Systems:

  1. Support an enterprise-level commitment to quality control with applications carefully tailored to all facets of mortgage quality control: Pre-funding, Compliance, Post-funding, Due Diligence and Servicing.

  2. Include proprietary statistical sampling modules that dramatically reduce required sample sizes, while emphasizing reviews of the riskiest loans.

  3. Include sophisticated reports that identify process failures, allowing mortgage quality control departments to improve quality (and profitability).

  4. Provide a total workflow solution that automates critical tasks and enhances the overall productivity of mortgage loan quality control departments.

  5. Are the most robust, flexible and technologically-advanced mortgage quality control software solutions available today.

  6. Offer a Total Solution, with training, technical support, professional services (consulting and customization), online discussion groups, Web seminars, annual user conference, and more available to all clients.


Mortgage Quality Control Software for the Entire Enterprise

In many organizations, mortgage loan quality control is very fragmented. Multiple groups – including pre-funding QC, compliance, fraud, post-closing QC, repurchase, servicing, and others – have overlapping responsibilities and use different systems. The differing data formats and reporting approaches make it difficult for IT to support them and for senior management to make informed decisions. Enter Cogent QC Systems. Each Cogent application is designed for a specific type of mortgage quality control or compliance review: pre-funding mortgage loan quality control, post-funding mortgage loan quality control, mortgage compliance, mortgage servicing, and mortgage loan due diligence. The systems are designed to be deployed across the enterprise (whether regionally, nationally or globally), so team members in different locations can be working on the same system simultaneously. They are modular, which means organizations can deploy only the modules they require and add on new functionality as needed. And they use a common, standardized technology (Microsoft .NET and SQL Server) that enables data sharing across Cogent applications and with other systems in the enterprise.

Statistical Sampling Methodology in Mortgage Quality Control Software

When large mortgage lenders told Cogent they wanted to reduce the burden of meeting Fannie Mae, Freddie Mac, and HUD mortgage quality control requirements, we pioneered the substitution of statistical sampling in place of the straight 10% sample then used by mortgage quality control. Our innovative methodology allowed lenders to reduce their random sampling to 2% or less of their total originations, resulting in immediate and significant cost savings for Cogent clients. By reducing their random sample sizes, lenders have been able to emphasize mortgage loan quality control reviews of the riskiest loans. This approach is fundamental to Cogent's methodology and has greatly improved our clients’ efficiency, helping them achieve significant savings and better risk management.

Innovative Mortgage Quality Control Reports

A second Cogent innovation was the introduction of sophisticated, actionable reports that identify process failures. In contrast, the standard mortgage QC report – even today – is the size of a small phone book and simply identifies loans with adverse findings. Such reports force mortgage loan quality control departments to first find the relevant information, then evaluate its significance and only then decide what to do. Cogent's clear, concise reports allow mortgage quality control departments to quickly analyze their business from different perspectives, continuously improve their processes and contribute to the profitability of their enterprise. For this reason, they actually get read by senior management.

Total Workflow Solution for Mortgage QC and Compliance Professionals

Because mortgage quality control and compliance has traditionally been viewed as no more than a cost, organizations have spent precious little on technology to automate the process. This has resulted in huge inefficiencies, redundant work and high full-time-employee (FTE) counts. Cogent has leveraged decades of experience in the mortgage industry to create our third major innovation: integrating sampling and reporting capabilities to produce a total workflow solution that automates critical tasks and enhances the overall productivity of mortgage quality control departments. The entire suite of Cogent QC Systems software is designed to support an enterprise-level commitment to mortgage quality control, with applications carefully tailored to all facets of the quality control process.

Best Mortgage Loan Quality Control Technology in the Industry

The Cogent QC Systems suite is the most robust and technologically advanced mortgage loan quality control software available today. Leveraging Microsoft's .NET framework and SQL Server database, Cogent QC applications are a major step forward in usability, power and flexibility. In stark contrast, many organizations still perform mortgage loan compliance and quality control on inferior 'home-grown' systems cobbled together by non-specialist IT personnel who have no experience in mortgage loan quality control or statistics. As with most home-grown systems, support is unavailable at worst and inconsistent at best.

Unrivaled Customer Support

Cogent’s award-winning mortgage loan audit softwareapplications are augmented with the best customer support in the industry. We assist in the design, configuration and deployment of all new systems. We provide on-site training with new deployments, and we are always available for consultation, training and system customization. We also host regular web seminars, continued training in online sessions, and feature an active user community that gathers to share ideas, techniques, and innovations at our annual Cogent Quality Symposium and on our forums. We also offer an online Resource focused on best practices in mortgage loan quality control and compliance , featuring white papers, articles, essays, news, and more.

The Complete Mortgage Loan Audit Solution

Cogent QC Systems’ innovative methodologies, reporting methods, workflow integration, and enterprise modules have resulted in award-winning mortgage loan audit software. Our industry-leading software coupled with our unparalleled customer support is the total mortgage quality control solution and has enabled lenders small and large to improve efficiency and reduce costs. Contact us today to discuss how partnering with Cogent can help your organization optimize quality and profitability.

 

News!

Cogent Commended for Lasting Impact on Mortgage Quality Control

Cogent Economics has been commended by Mortgage Technology Magazine for its lasting impact on the mortgage industry.   In announcing its annual Tech Awards at the 2009 Mortgage Banker’s Association Annual Convention, the magazine’s editors cited Cogent for “pioneering the use of statistical sampling [in mortgage quality control] to replace the straight 10% random sample with a calculated statistical random sample, which could be 1% or less of a lender’s origination volume, resulting in a 90% reduction in costs.” 

In addition to this singular achievement, the Award judges considered the broader impact that Cogent has had on the practice of mortgage quality control and compliance. This impact is described in "The Case for Cogent QC Systems", which is summarized below.

Transforming the Mortgage Quality Control Mindset

Cogent's impact on the mortgage industry has been transformative. Beyond simply automating and streamlining an existing process, Cogent QC Systems enable lenders to transform the mortgage quality control function from a cost center to a profit center. Focusing on process improvement across the mortgage value chain, Cogent QC Systems provide the tools lenders need to identify process failures, weigh their potential impact on risk and profitability, and take action. Using Cogent's statistical quality control techniques, lenders have improved quality (thereby reducing the cost of poor quality), while lowering the cost of performing mortgage quality control. Both have contributed to increased profitability.

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