Why Cogent QC Systems?
Why Cogent QC Systems lead the industry.
ENDURING INFLUENCE
Over the past 20 years, through several business cycles in the mortgage industry, Cogent Economics has been consistently advocating the value of effective quality control, for both originations and servicing, and continuously improving its proprietary solutions - Cogent QC Systems - to help lenders achieve it. Cogent has been recognized by Mortgage Technology many times in the past decade, receiving the Fix-It Award in 2003, Top 100 Vendors in 2005, Top 25 Vendors in 2006, and the Lasting Impact Award in 2011.
Cogent has been a thought leader in the mortgage quality space, beginning with its pioneering statistical quality control methodology, developed by founder and CEO Hakki Etem in 1993. By 1996, this methodology was incorporated into the first Windows-based quality control auditing solution for the mortgage industry: the ProductionQC System. Since then, in partnership with its growing client base, Cogent has continued to innovate and broaden its product line to address quality control throughout the enterprise, with 5 unique solutions: ProductionQC, ServicingQC, ComplianceQC, PipelineQC and DueDiligenceQC.
Cogent QC Systems were migrated in 2006 to the new Microsoft .NET platform, which has been extremely well received by both existing clients (whose Systems have been upgraded at no cost) and new clients. Cogent's commitment to continuous improvement, in partnership with our clients, is an integral part of our corporate culture.
TRANSFORMING THE QUALITY CONTROL MINDSET IN THE MORTGAGE INDUSTRY
- Cogent's lasting impact on the mortgage industry has been transformative. Beyond simply automating and streamlining an existing process, Cogent QC Systems have enabled lenders to transform the quality control function from a cost center to a profit center.
- Cogent QC Systems focus on process improvement across the mortgage value chain, providing the tools lenders need to identify process failures, weight 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 quality control. Both have contributed to increased profitability.
20 YEARS OF INNOVATION
Cogent's fundamental innovation has been to adapt quality improvement principles from manufacturing industries to the mortgage industry. In pioneering the use of modern statistical quality control principles, Cogent has:
- Educated quality control managers, senior executives, investors
and regulators about the myriad benefits of statistical sampling
and process improvement
- Created a robust statistical sampling methodology, specific to
the mortgage industry, that provides maximum opportunity for
process improvement while reducing review costs through more
efficient sampling and workflow
- Convinced many of the industry's largest lenders, as well as many
small and medium sized lenders, that a new approach is in their
best interests (Cogent systems have been successfully deployed at
over 100 clients since 1996)
- Developed quality control software systems that facilitate the
adoption of the new approach, with features such as:
- easy-to-use statistical sampling tools
- comprehensive yet flexible workflow that guides lenders through
the quality control process - sophisticated, concise reports that provide not just raw data
but accurate, precise, and actionable information - web-based feedback tools that streamline the actual
implementation of process improvement initiatives - Created ongoing training and education programs to drive adoption
across the industry, including joint programs with the Mortgage
Bankers Association (MBA) and over a decade of leadership in the
MBA Quality Assurance Committee.
###
Cogent Value Proposition
Client Services and Support
Resources and White Papers
Introduction to Cogent QC Systems (PowerPoint)
Mortgage QC Buyer’s Guide
Request a Demo