Product Overview
Cogent’s award-winning suite of mortgage quality control and mortgage compliance software applications is designed to automate, accelerate, and improve the mortgage loan audit review process. As the most advanced tools available for mortgage quality control and mortgage compliance, the applications are in use by some of the largest lenders in the United States, as well as by innovative smaller lenders who recognize the software’s ability to help them scale efficiently without growing their QC departments.
Rating Agencies are familiar with Cogent QC Systems and have commented favorably in their reviews of Cogent clients. Here are examples what they’ve had to say in their annual reviews:
Fitch
“[Client] has instituted a more robust QC and audit review since Fitch’s last review. [They have] created a separate internal QC group, complementing audits customarily conducted by the compliance unit. Also, ... Cogent [QC System] was implemented this year ... which provides highly customizable statistical sampling and detailed reports ... All functions are audited against [Client]’s policies and procedures... Fitch views the new QC and audit programs, various internal layers of scrutiny, and regulatory oversight favorably.”
Standard & Poor's
“The company implemented a Cogent [QC System] ... that facilitates reviews through statistical sampling, analysis and reporting. All Cogent reports are provided to the parent... Standard and Poor’s believes [Client]’s auditing and compliance practices provide a solid foundation to guard against risk of loss to itself and its investors due to ... errors or inefficiencies.”
Cogent QC Systems are unique in supporting an enterprise-level commitment to quality control with applications carefully tailored to all facets of mortgage quality control:
All Cogent quality control audit software features:
- Easy to Use Statistical Sampling meets agency and investor requirements for post-funding QC, radically reduces the number of loans reviewed and emphasizes discretionary, targeted sampling to focus on potential issues.
- Sophisticated Reports display results graphically and in tabular form. Report Writer tool provides powerful ad hoc reporting capability and allows you to save and distribute reports in multiple file formats (XLS, CSV, TXT, TIF, PDF, DBF)
- Comprehensive Workflow automates the audit review process for ease of use and consistency. Customizable interactive screens guide reviewers through their audits.
- Flexible and Customizable to fit your audit process and fully configurable post-installation. Cogent systems are the most versatile on the market today.
- A Complete Solution that features outstanding customer service, state-of-the-art technology, free on-line training, an annual user conference, on-line discussion groups, on-site training, website resources and more.
Automate the Complete QC Workflow
- Data Management Tools
- Data access (up to 500 fields) / population eligibility rules / data export in multiple formats
- Sampling Tools
- Sample size calculation and selection: statistical, stratified, targeted, manual
- Auditing Tools
- Recording of audit findings, comments, notes, ratings, referrals
- Sending and tracking letters: order, reverify, re-disclose
- Loan assignment, audit tracking, shell jumping
- Reporting Tools
- Audit Status Reports, Audit Findings Reports, Web-based Feedback, Management Reports, Custom Reports … E-Reports
- Administrator Tools
- Customizable user access, audit questions, user interface
- Reconfigurable post installation
Features of the Latest Version of Cogent QC Systems
- MS SQL Server Database for flexible data management
- Sampling Wizard to simplify complex sampling strategies
- New Report Writer tool with drag-and-drop interface and charting
- Web-based Feedback enabling instant feedback from the field to QC’s findings
- New Audit Environment to enable more features, present more information
- Streamlined User Interface to maximize productivity and ease of use
Deployment of Cogent QC Systems
Cogent QC Systems may be deployed in a traditional LAN configuration for local access or in an enterprisewide implementation (via Citrix, terminal services or similar) that enables access by unlimited numbers of users worldwide. Deployment may also be distributed across multiple servers (separate application, database, and web servers), providing added flexibility for IT departments.