Why Cogent QC Systems?

Cogent’s award-winning quality control and compliance applications allow lenders to perform quality control better, faster and at lower cost.

Deployed by over 100 clients, including some of the top lenders in the United States, Cogent QC Systems are widely recognized as the best mortgage quality control and compliance audit applications available, having guided the loan quality control of trillions of dollars in mortgage originations and millions of servicing records.

Since 1991, Cogent has been introducing innovations that have now become industry best practices. Our pioneering statistical sampling methodology, workflow integration, reporting methods, and specialized modules have helped mortgage lenders not only to optimize quality but to enhance profitability. Cogent is a Mortgage Technology Top 25 Vendor and a winner of the magazine’s Lasting Impact Award and its Fix-It Award.

Cogent QC Systems are well-regarded by the rating agencies and meet the requirements of CFPB, Dodd-Frank, Fannie Mae, Freddie Mac, HUD, the OCC and other regulatory agencies.

In partnership with our clients, Cogent QC Systems have been designed to:

  • provide a comprehensive, robust and secure system of record to organize, conduct and manage all of your audits
  • enable you to minimize random sample sizes with statistical integrity, improve auditor productivity and increase audit coverage with risk-based targeted reviews
  • improve the efficiency of your reporting and feedback cycles, resulting in faster process improvement
  • make your QC more effective overall, resulting in fewer errors and defects over time, and reducing the costs of poor quality
  • increase transparency for investors, regulators and rating agencies, resulting in streamlined audits and improved ratings

 

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, receiving the Fix-It Award in 2002, 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. 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 and compliance throughout the enterprise.

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.

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Cogent Value Proposition
Client Services and Support
Resources and White Papers
Introduction to Cogent QC Systems (PowerPoint download)
Mortgage QC Buyer’s Guide
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