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Long-term rates nearly unchanged in Freddie Mac weekly survey

National Mortgage Professional
Jun 04, 2008

Cogent Road incorporates online tax information from Internal Revenue Service in Funding SuiteMortgagePress.comcredit management platform, W2, 1099 or 1040 tax forms Simplifies origination process for borrowers and originators Cogent Road, a provider of Internet-based applications for the mortgage industry, announced that it launched a new feature in Funding Suite, its credit management platform, which enables loan originators to quickly and securely retrieve borrowers' tax documents online from the Internal Revenue Service (IRS). The greatest benefit of this feature to borrowers and originators is a faster approval process, especially if potential borrowers have misplaced their W2, 1099 or 1040 tax forms over the years. By locating and including tax information at the beginning of the origination process, potential borrowers can avoid later delays due to missing income documentation. This feature provides mortgage originators with a more streamlined origination process. Accessing tax documents online in a tamper-proof PDF format is much faster and more secure than faxing or e-mailing. Security features include 128 bit encryption by Cogent Road and direct access from the Funding Suite platform to the IRS without third-party intervention. Tax information provided through Funding Suite is reusable, easy-to-store and can be used for secondary verification to prevent mortgage fraud. "There is a growing need for borrowers' tax documents now that stated income loans have disappeared," said Jennifer Blacker, the production manager of Homeworx Mortgage LLC located in Edmond, Okla. "Funding Suite offers us a quick, automated method for accessing these documents directly from the IRS that is unique to the mortgage industry." "We wanted to give originators and their borrowers a less stressful way to locate and access necessary tax information," said Alan Baia, managing partner for Cogent Road. "Incorporating tax forms into Funding Suite in a PDF format that cannot be edited, copied or pasted provides a useful tool for making the origination process simpler, faster and more secure." For more information, visit www.cogentroad.com or www.fundingsuite.com.
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