Over the past 25 years, Cogent Economics has consistently advocated the value of effective quality control for both originations and servicing. And we have continuously improved our software solutions – Cogent QC Systems – to help lenders achieve quality in an efficient and effective way.
Cogent’s long history of technological innovation has been recognized by Mortgage Technology magazine 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 also been selected to the Housing Wire Tech100 for three years running (2017-2016-2015).
Our 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.
25 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.
- 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.