Cogent Wins Mortgage Technology Award for Lasting Impact

FOR IMMEDIATE RELEASE

San Francisco, CA – October 21, 2011 – Cogent QC Systems, the leading developer of loan quality control and compliance solutions for the financial services industry, 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.”

See Mortgage Technology award citation here (PDF)

The judges went on to say, “Cogent has created industry-specific sampling methodologies … and educated quality control managers, senior executives, investors and regulators about the benefits of their use.  By focusing on process improvement across the mortgage value chain, Cogent has provided lenders the tools they need to identify process failures, weigh their potential impact on risk and profitability, and take action.

“By using its statistical quality control techniques, Cogent stresses that lenders have enjoyed the cost savings that come with improved quality as well as lowering the cost of performing quality control. As a result, Cogent QC has enabled lenders to transform QC functionality from a cost center to a profit center. In that regard, Cogent’s impact on the mortgage industry has been transformative.”

Cogent has been recognized by Mortgage Technology five times, having also received the Fix-It Award in 2003, Top 100 Vendor in 2005, Top 25 Vendor in 2006 and finalist in the Lasting Impact Award in 2009. Cogent QC has participated in joint programs with the Mortgage Bankers Association and has over a decade of leadership on MBA’s Quality Assurance Committee.

“We are extremely pleased to receive this Mortgage Technology award,” said James Robinson, President of Cogent QC Systems.  “It is a validation by thought leaders in our industry of Cogent’s ongoing mission to help lenders improve the quality of their origination and servicing processes.”

About Cogent QC Systems

Cogent QC Systems, a division of Cogent Economics, Inc., specializes in software tools and services for loan quality control, compliance and due diligence. Founded in 1991 and based in San Francisco, Cogent is recognized as the industry leader in the use of statistics for monitoring quality and compliance. Cogent QC Systems — including ProductionQC, ServicingQC, PipelineQC , ComplianceQC, and DueDiligenceQC — have been deployed by over 100 clients, including most of the top lenders in the United States, and have guided the mortgage loan quality control of over $3 trillion in mortgage originations and 4 million servicing records. The Cogent QC suite is widely recognized as the best mortgage quality control and compliance software available.

For more information about Cogent Economics and the suite of Cogent QC Systems, please visit http://www.cogentqc.com or contact James Robinson, james.robinson@cogentqc.com, 415-495-3660 x209.

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© 2011 Cogent Economics, Inc.  All rights reserved.  CogentQC, ProductionQC, PipelineQC, ServicingQC, ComplianceQC, DueDiligenceQC and Fair Lending Monitor are trademarks and/or registered trademarks of Cogent Economics, Inc.