Cogent Economics has been commended by Mortgage Technology Magazine for its lasting impact on the mortgage industry. In announcing its annual Tech Awards at last week’s Mortgage Banker’s Association Annual Convention, the magazine’s editors cited Cogent for “pioneering the use of statistical sampling [in mortgage quality control] to replace the straight 10% random sample with a calculated statistical random sample, which could be 1% or less of a lender’s origination volume, resulting in a 90% reduction in costs.” More information here.
Although Cogent’s QC Systems do a lot more than intelligently reduce sample sizes, it’s the statistical sampling methodology that industry veterans remember. Over the years, Cogent has been a Mortgage Technology Top 25 Vendor and a winner of the magazine’s Fix-It Award, but it’s particularly gratifying to be recognized for long term contributions to the industry.
This blog is part of our ongoing effort to continuously improve mortgage quality control. Here, we’ll be talking about a lot more than just Cogent QC Systems. We hope you’ll be part of the conversation.