Skip to main content

Cogent Road adds Digital Document Delivery to Funding Suite

NationalMortgageProfessional.com
Aug 12, 2009

Cogent Road, a provider of Internet-based applications for the mortgage industry, announced it added Digital Document Delivery (D3) to Funding Suite, the company’s credit report management platform, in order to provide a system for managing the distribution and management of documents during the mortgage origination process. In order to replace inefficient faxing and e-mailing, D3 provides originators with four ways to deliver documents: PC upload, electronic faxing via a bar-coded fax cover sheet, virtual printing and scanning. Although these delivery methods are not new technologies, this is the first time they can be used by originators to submit borrower documents to credit reporting agencies. The credit review process is historically time intensive because it relies heavily on paper-based document exchange. Using Funding Suite’s D3 to digitize paper documents into electronic files speeds up processing time, adds additional accountability in the document delivery process, verifies that the credit agency receives the necessary documentation, increases the security surrounding sensitive consumer financial information, and increases efficiency due to the elimination of paper shuffling and the need for physical storage of files. On the back end, all documents submitted electronically via D3 are indexed into Funding Suite and the system matches documents with the appropriate order and routes them together to the specific credit processor working on the file. These documents stored in Funding Suite are also easily accessible if they need to be retrieved at a later date. “Using Cogent Road’s Digital Document Delivery increases our efficiency and gives us a cost-effective way to ‘go green,’” said Jim Redin, district sales manager at Sacramento, Calif.-based Paramount Equity Mortgage. “Paramount Equity has a company-wide initiative to use green technologies whenever possible. The company also offers residential solar financing solutions to make solar technology more accessible to homeowners.” “Digital Document Delivery was designed to streamline the paper-intensive credit verification process that can be frustrating for mortgage originators, processors and consumers,” said William DiPaolo, managing partner of Cogent Road. “Instead of originators wondering if their faxes were correctly sent or worrying that processors overlooked e-mail attachments, D3 gives originators more control during the credit verification process because necessary documents such as bankruptcy filings and summary judgments are electronically attached to the order automatically.” For more information, visit www.cogentroad.com.  
Published
Aug 12, 2009
Biden Nominates McCargo To Lead Ginnie Mae

Currently Serves As Senior Advisor For Housing Finance At HUD

Regulation and Compliance
Sep 14, 2021
OCC Plans To Rescind 2020 CRA Rule

The OCC formally issued a proposal to rescind a controversial rule within the Community Reinvestment Act (CRA) that was published in June 2020.

Regulation and Compliance
Sep 10, 2021
Flexibilities Move Forward

Pandemic Priorities Continue To Drive Industry Modernization

Regulation and Compliance
Sep 08, 2021
FHFA And The Enterprises Coordinate Action On Equitable Housing

Today the FHFA is announcing that Fannie Mae and Freddie Mac (the Enterprises) will submit Equitable Housing Finance Plans to the FHFA by the end of 2021.

Regulation and Compliance
Sep 08, 2021
Realtors Encouraged By Biden Plan to Expand Housing Supply

Administration Said Wednesday It Plans To Add 100,000 Affordable Homes In 3 Years

Regulation and Compliance
Sep 03, 2021
Biden Administration Announces Plan For Affordable Housing

President Biden and his administration firmly believe it is time to intervene in the housing market.

Regulation and Compliance
Sep 01, 2021