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Cogent QC: Award-Winning Loan Quality Control & Compliance Software

Award-Winning Mortgage Quality Control and Compliance Software

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ServicingQC – Loan Servicing Quality Control Software

ServicingQC

The Cogent ServicingQC System is the only quality control software platform available today that is designed specifically for the needs of loan servicing quality control and compliance.

The ServicingQC System can be configured to audit any loan servicing, quality control or compliance process, for mortgage, consumer and/or auto loans.  Administrator tools enable users to specify audit types and eligibility rules for each audit type.  Targeted sampling within each audit type enables samples to be as broad or narrow as necessary, with automated tools for sample size estimation.

Audit Review Module Features

• Fully configurable audit modules allow different audit groups to create their own sampling, auditing and reporting workflows
• Dynamic audit checklists respond to audit types and audit responses, streamlining audits and reducing work
• Supervisor review and override options allow managers to monitor and correct auditor and vendor reviews
• Automated reverification letter generation and tracking
• Audit management tools enable automated audit assignment, audit sharing, feedback generation and reporting
• User and audit activity tracked and stored in database
• Customizable Audit Help screens allow managers to guide auditors
• Referral and mirroring tools enable coordination across audit modules

Mortgage servicing processes currently audited by Cogent users include:

Adjustable Rate Mortgages (ARMs)
ARMs and Special Loan Acquisitions
Assumptions
Balloon Loans
Bankruptcy – AOs and NODs Bankruptcy – Closings
Bankruptcy – Loan Acquisition and Setups
Bankruptcy – MFRs
Bankruptcy – POCs
Bankruptcy – Research
Cash Management
Collections
Correspondence
Complaints
Credit bureau reporting
Customer Correspondence
Delinquent loan management
Escrow Analysis
Escrow Account Management
Escrow Impounds
Fees
FHA 235 Recertification
FHA ARM Changes
FHA Collections
FHA Customer Correspondence
FHA Escrow Analysis
FHA Foreclosures
FHA Hazard Insurance
FHA Loan AcquisitionsFHA Loss Mitigation
FHA MIP
FHA Payoffs
FHA Service Released
FHA Taxes
Forbearance
Foreclosures
Foreclosure Claims
Hazard/ Flood Insurance
HUD 235 loans
HUD 203k
HELOCs
Insurance premiums
Investor Reporting
Loan Acquisitions
Loan Assumptions
Loan Boarding
Loss Mitigation
MERS
Modifications
MIP-PMI
Newly-acquired loans
Pay-Offs
Periodic Statements
PMI
Property Seizures
Reconveyances
Reverse Mortgages (HECM)
REO
Repayment Plans
SCRA
Service Released
Servicing Transfers
Successors in Interest
Taxes
Tax impounds
Workouts

Consumer servicing processes currently audited by Cogent users include:

Auto
Credit
Indirect Lending
Home Equity
Account Opening
Unsecured Lending
Branch Audit
Insurance Premiums
Customer Service
Collections
Disputes
Repossession
Bankruptcy
Pay-off Processing
Consumer Leasing
Consumer Loans Lending
Consumer Loans Servicing
Deposit Accounts
Electronic Funds Transfer (EFT)
New Deposit Accounts
Open-End Credit Accounts
CRA Audits
Marketing and Advertising
Workouts
Loan Counseling
Credit Bureau Reporting
Loss Mitigation

ServicingQC Workflow

At the beginning of each audit cycle, the System’s SQL Server database is refreshed directly from your servicing system or data mart, providing the most recent servicing data for auditing. The System then enables separate, independent and asynchronous sampling and auditing of as many servicing functions as required. It also allows reporting and data export in multiple formats, enabling enterprises to combine data from mortgage quality control and compliance departments with data from other departments. Further, its native SQL Server tables are available for reporting via any number of reporting tools, including Business Objects, Crystal Reports, its own Report Writer module and others.

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