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, having guided the loan quality control of over $3 trillion in 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 Lasting Impact Award and Fix-It Award.
Cogent QC Systems are also viewed favorably by the rating agencies.
Cogent QC Systems:
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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.
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Include proprietary statistical sampling modules that dramatically reduce required sample sizes, while emphasizing reviews of the riskiest loans.
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Include sophisticated reports that identify process failures, allowing mortgage quality control departments to improve quality (and profitability).
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Provide a total workflow solution that automates critical tasks and enhances the overall productivity of mortgage loan quality control departments.
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Are the most robust, flexible and technologically-advanced mortgage quality control software solutions available today.
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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.
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 quality control, post-funding quality control, mortgage compliance, mortgage servicing, and mortgage 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 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 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 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 Quality Control Technology in the Industry
The Cogent QC Systems suite is the most robust and technologically advanced 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 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 applications 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 loan quality control and compliance, featuring white papers, articles, essays, news, and more.
The Complete Audit Solution
Cogent QC Systems’ innovative methodologies, reporting methods, workflow integration, and enterprise modules have resulted in award-winning audit software. Our industry-leading software coupled with our unparalleled customer support is the total 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 Wins 2011 Mortgage Technology 'Lasting Impact' Award
Cogent has won Mortgage Technology magazine’s 2011 Lasting Impact Award. The Lasting Impact Award acknowledges an individual, group or company responsible for a technology initiative or development proven to have an enduring influence that has transformed mortgage finance. In presenting the award, the judges cited Cogent’s “fundamental innovation as adapting quality improvement principles from manufacturing industries to the mortgage industry.”
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