Cogent Economics Announces Alliance with Wolters Kluwer to Provide Customers with Quality Control Monitoring Service

We are very pleased to announce an alliance with Wolters Kluwer to help Cogent users stay abreast of changes in the regulatory environment and to efficiently update their audit checklists. Here is the news release. We'll have more to say about this service soon. If you have questions or are … [Read more...]

Are Your Data and Operations Safe?

One of our favorite newsletters, published by mortgage industry veterans of 30+ years' standing, is the Garrett McAuley Report, a no-nonsense look at some of the issues percolating in the industry. The latest edition mentions the relevance to our industry of the recent ransomware attacks that … [Read more...]

Lines of Defense

Here's a good description of the 'lines of defense' approach that many financial institutions are taking to quality control, operational risk management and compliance risk management.  Without a framework like this, it becomes much more difficult to meet today's enhanced regulatory scrutiny, … [Read more...]

HUD Introduces Defect Taxonomy for FHA Lending

In a growing trend towards streamlining and standardization of quality control and compliance methodologies, HUD has introduced a Defect Taxonomy in its "FHA's Single Family Housing Loan Quality Assessment Methodology".  This document lays out the methodology that the FHA plans to adopt to improve … [Read more...]

Another Successful Cogent Quality Symposium

The 2015 Cogent Quality Symposium (May 6-8) once again brought together clients from all corners of the country in downtown San Francisco.  As with all Symposia, the main attraction for clients was the opportunity to interact with other Cogent clients. Judging by feedback, the single most requested … [Read more...]

Compliance Humor

So many industry professionals have been wrestling with it in 2014 that "compliance" may have become the industry's word of the year.  The jury's still out but it's never too early to joke about it. Happy holiday season!   … [Read more...]

How Not to Be Fooled by Odds

The New York Times ran an article recently titled "How Not to Be Fooled by Odds" in which the author defines what is meant by a statement such as "the odds of a Republican takeover of the Senate is about 74%."  Stating that "there really is a difference between saying something will almost certainly … [Read more...]

FHFA Director Watt Signals Shift in Plans for Fannie and Freddie

The threat to Fannie and Freddie appears to be over. Mel Watt, the Director of the Federal Housing Finance Agency, announced in a speech last week at the Brookings Institution that he plans to maintain the role played by Fannie Mae and Freddie Mac in the housing finance market.  We think this is … [Read more...]

Creating Audit Checklists

As a vendor of risk management tools for loan quality and compliance, Cogent's focus is on developing effective software solutions that accommodate the needs of different types of lenders.  Our software automates and optimizes business processes, while our clients, together with their legal and … [Read more...]

Perspectives on the New Normal in Mortgage QC and Compliance

Several articles in the last week have provided useful insights into the mortgage industry's new regulatory environment and its impact on lenders' and servicers' business models.  In no particular order, we suggest the following: Fates of Bank and Nonbank Servicers Intertwined: MBA … [Read more...]