Cogent Road delivers enhancements and new technology MortgagePress.comFunding Suite v3.0, Underwriting Conditions Scan, Fannie Mae, Freddie Mac
Cogent Road has
announced several enhancements to its Funding Suite v3.0. The
latest addition is a new Underwriting Conditions Scan (UC Scan).
With a UC Scan, every credit file is scanned to detect the
conditions and underwriting flags that may be indicated by Fannie Mae's Desktop
Underwriter. All results are listed in simple language that enables
mortgage originators to resolve conditions before the file is
processed through Fannie Mae.
Another enhancement is Funding Suite's new reason code display
that describes exactly why a credit bureau is either unable to
score an applicant, or failed to return a file for the applicant.
New tools also include the ability to preserve existing scores when
rescoring one or two bureaus. In the past, when a single bureau was
rescored, it was necessary to re-order all bureaus in order to
maintain a Fannie Mae and Freddie Mac re-issuable
Cogent Road has also launched Score Protection, Funding Suite's
newest technology offering designed to eliminate additional
inquiries by protecting any of the scores in a pre-existing file,
provided the original file is less than 30 days old. Funding
Suite's automated credit proofreading tolls help originators detect
errors in credit files that work against the applicant by lowering
his credit score.
Cogent Road, based in San Diego, Calif., is a provider of
Internet-based applications for the mortgage industry. For more
information, call (800) 848-2514 or visit www.cogentroad.com.