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Splash Media announces agreement with Calyx to promote training network

National Mortgage Professional
Jun 17, 2008

Cogent Road launches AVAIL prequalifying service systemMortgagePress.comCogent Road, AVAIL, prequal, Funding Suite, credit management Cogent Road, a provider of Internet-based applications for the mortgage industry, has announced the launch of AVAIL, an automated system enabling mortgage originators to provide continuing mortgage-qualifying services to prospective borrowers. An extension of Cogent Road's Funding Suite, a credit management solution that manages costs and enhances customer retention during the loan origination process, AVAIL enables loan originators to more effectively establish and maintain contact with potential borrowers to create top-of-mind awareness among consumers. Many originators lose prospective borrowers during the qualifying process, especially when it is drawn out over time. Without the mortgage professional's guidance, prospective borrowers mistakenly turn to questionable credit repair companies that falsely claim to clean up credit reports. The AVAIL educational program is an alternative course of action for borrowers. Using AVAIL, originators can provide applicants with guidance on how to change their spending behavior, such as paying down high balances and using credit cards responsibly, in order to become more credit-conscious consumers. AVAIL also manages client information to automatically notify originators when educated potential borrowers eventually achieve predefined credit score targets. The online platform borrowers use to access the AVAIL program is branded with the originators logo, photo, name and contact information to further strengthen interaction with the borrower. "The AVAIL program enables us to educate borrowers on how to adopt good credit behavior practices," said Alan Vogan, president and CEO of Riverside, Calif.-based First Lending Solutions. "Once potential borrowers have incorporated the information into their financial lifestyle over a period of time, their credit scores naturally reflect the improvement and they reduce the level of risk a lender faces when offering them a loan." "Mortgage originators have never had an effective way to provide ongoing credit education to help first-time homebuyers and declined applicants improve their credit health over time," said William DiPaolo, managing partner of Cogent Road. "AVAIL enables mortgage originators to more effectively maintain their relationships with a large number of potential applicants as they learn better credit behaviors. The program packages originators' expertise and professional counsel into a prequalification product that positions originators as a source of guidance when applicants have reached the level where they are ready to apply for mortgages." For more information, visit ###
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