ServicingQC

The Cogent ServicingQC System is the only mortgage quality control software available today that is designed specifically for the needs of mortgage servicing quality control. The system allows quality control departments to monitor virtually any kind of servicing process, including loan modifications, workouts, loss mitigation and foreclosure.

The Cogent ServicingQC system now guides the mortgage quality control and compliance reviews of over 4 million serviced loans. As with all Cogent QC Systems, ServicingQC offers the industry’s most advanced mortgage quality control and compliance software features:

  1. Easy-to-use sampling, auditing and reporting functions are integrated into a streamlined workflow, guiding auditors and administrators through a proven and consistent quality control process that simultaneously improves productivity.

  2. Cogent's Statistical Sampling Methodology allows you to replace the traditional 10% random sample with a far smaller statistically calculated random sample that meets agency requirements, allowing you to focus on discretionary targeted reviews.

  3. Sophisticated & concise management reports enable statistically valid inferences about target loan populations and allow you to display results graphically and in tabular form.

  4. Highly customizable, multi-user audit modules enable separate audit question lists for each servicing function*, as well as independent sampling and reporting.

  5. Automation of common quality control processes, such as online ordering of credit/ fraud/ appraisal/ other services; web-based feedback to/from the quality control department and the field; creation and maintenance of watch lists; tracking and recording of audit activity by loan; and more.

At the beginning of each audit cycle, the System’s SQL Server database is refreshed directly from your servicing system or data mart, providing the most recent servicing data for auditing. The System then enables separate, independent and asynchronous sampling and auditing of as many servicing functions as required*. It also allows reporting and data export in multiple formats, enabling enterprises to combine data from mortgage quality control and compliance departments with data from other departments. Further, its native SQL Server tables are available for reporting via any number of reporting tools, including Business Objects, Crystal Reports, its own Report Writer module and others.

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* The Cogent ServicingQC System can be configured to audit any mortgage servicing, quality control or compliance process.  Typical servicing processes currently audited by ServicingQC users include:


Adjustable Rate Mortgage (ARM) Changes
ARMS and Special Loan Acquisitions
Balloon Loans
Bankruptcy - AOs and NODs Bankruptcy - Closings
Bankruptcy - Loan Acquisition and Setups
Bankruptcy - MFRs
Bankruptcy - POCs
Bankruptcy - Research
Collections
Credit bureau reporting
Customer Correspondence
Delinquent loan management
Escrow Analysis
Escrow account management
FHA 235 Recertification
FHA ARM Changes
FHA Collections
FHA Customer Correspondence
FHA Escrow Analysis
FHA Foreclosures
FHA Hazard Insurance
FHA Loan Acquisitions

FHA Loss Mitigation
FHA MIP
FHA Payoffs
FHA Service Released
FHA Taxes
Foreclosures
Foreclosure Claims
Hazard/ Flood Insurance
HUD 235 loans
Insurance premiums
Loan Acquisitions
Loan Assumptions
Loss Mitigation
Modifications
Newly-acquired loans
Pay-Offs
PMI
REO
Repayment Plans
SCRA
Service Released
Taxes
Tax impounds
Workouts