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Award-Winning Mortgage Quality Control and Compliance Software

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415-495-3660  |  info@cogentqc.com  |  Request Demo

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Mortgage Technology – A Whole New World

April 20, 2018 By Kaan Etem

Mortgage technologists gathered this week at the MBA Tech18 conference to talk about the digital mortgage, mobile applications, artificial intelligence, APIs, block chain, and even drones, robots, augmented reality and the Internet of Things.  Heady stuff, and a far cry from pre-crisis days. This is not your father’s mortgage technology, and as the pace picks up, there will be a shake-out of traditional players who don’t adapt.

The theme of disruption was illustrated nicely in the two keynotes. By some miracle, Oakland A’s General Manager Billie Beane made statistics interesting and humorous, showing how he teamed with a baseball outsider to ultimately revolutionize baseball. Quicken Loans’ Dan Gilbert and Bill Emerson were equally entertaining in their keynote, as they bantered about how Rocket Mortgage came to disrupt the mortgage landscape. Speaker presentations are available to MBA members here.

With loan origination costs now up to $8,500 per loan, cost reduction through process automation has everyone’s attention. The cool technology is coming but until then, most organizations can pick the low-hanging fruit by automating manual processes, according to several speakers. Paper-based processes, error-prone data entry into silo-ed systems (requiring redundant re-entry), triple checking of work, and many things involving Excel can be streamlined without new technology. We have some ideas about this in our earlier post, in case you haven’t explored them yet. Look for more posts soon covering some interesting ways to think about using technology effectively in your organization.

Filed Under: Cogent QC Systems, Mortgage Industry, Mortgage Quality Control, Mortgage Technology, Statistics, Uncategorized

Calculate, Streamline and Automate

April 20, 2018 By Kaan Etem

 

Technology is rapidly transforming mortgage banking. If you went to the MBA Tech18 conference, you saw some of the companies leading the charge. But with enterprise software, change can be slow to arrive. What can you do right now to boost productivity, streamline processes and automate workflows?

How about optimizing your sampling? Try our statistical sample size calculator and some of our white papers on leveraging statistics. You might get more done with less work. If you’d like to discuss how, contact us.

And while we automate client processes by leveraging Cogent QC Systems tech tools, you may find that revisiting the manual steps in your workflow will be fruitful, especially if that workflow has not changed in years.

Ultimately, when you’re ready for an adaptable workflow technology for your quality, compliance and risk management, let us know. We’d love to show you the most feature-rich, most customizable system available.

Filed Under: Automation, Business Process, Mortgage Quality Control, Statistical Sampling, Statistics Tagged With: automation

Statistical Sample Size Calculator

March 29, 2018 By Kaan Etem

Our standard statistical sample size calculator is now available as a free resource online. If you haven’t seen it yet, we encourage you to try it.

If you need help, check out the guides and white papers on our Resources page.

And if you have any feedback about how to improve the calculator, let us know. We’re planning an upgrade and we need your input.

Thanks for visiting!

After a population count of about 5,000 units, the number of units to be sampled for any given defect rate flattens out – a major benefit of using statistical sample selection.

 

The Cogent Team

Filed Under: Mortgage Quality Control, Statistical Sampling, Statistics, Uncategorized Tagged With: Cogent QC Systems, statistical sampling

Automating Workflows

March 29, 2018 By Kaan Etem

The mortgage QC sector has evolved to the point where most system providers automate the basic workflows in one way or another: import loan record data, sample loans, conduct audits, reverify documentation, send feedback to business units in the field, resolve findings, and generate reports.

These aspects of the quality control process are well-honed and mature, so it’s comparatively easy to build systems and interfaces to manage them. The question is, what happens when you introduce different workflows, new workflows, or even new audit types?

Cogent’s system architecture, development staff and business model are aligned around helping lenders customize and automate their workflows and integrate them with other workflows in the organization.

 

If you’d like to hear about how we’ve helped our clients automate their processes,  call us or email us at the coordinates at the top of the page. We’re happy to share.

 

Filed Under: Automation, Cogent QC Systems, Compliance, Loan Audit Software, Loan Quality, Mortgage Auditing Software, Mortgage Quality Control, Uncategorized Tagged With: Process Improvement

Lines of Defense

August 26, 2015 By Kaan Etem

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, increasingly complex regulatory requirements and rapid pace of regulatory change.

 

linesofdefense

Filed Under: Compliance, Loan Quality, Mortgage Compliance, Mortgage Industry, Mortgage Quality Control, Mortgage Servicing, Risk Management, Uncategorized

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