Cogent Road, a provider of Internet-based applications for the mortgage industry, announced the launch of the Originator Referral Toolkit, a three-pronged program to help mortgage originators increase their referral business from real estate agents, insurance agents and financial planners, for every Funding Suite account holder. Cogent Road offers its clients three distinct turnkey presentations that they can use to explain to groups of professionals the tangible value they bring to potential borrowers. These 20-min. presentations and supporting collateral materials, which can be customized to reflect individual brands at no additional cost, focus on the following key topics:
► The ability to rescore borrowers’ credit scores: Through credit proofreading, originators are able to spot and legitimately correct credit data and credit usage errors that incorrectly lower potential borrowers’ credit scores. It evaluates the accuracy of credit reports and assists borrowers in correcting errors or changing spending behavior at no cost to the borrower.
► The value brought to referral partners: Originators can share with real estate agents a branded EquityID report that automates comparable sales prices for a specific property in question to streamline the pricing process for sellers.
► The ability to continue relationships with unqualifiable borrowers: Originators using the AVAIL prequalifying system can effectively establish and maintain contact with potential borrowers and offer guidance as they improve their credit health over time.
Funding Suite, Cogent Road’s credit report management platform, helps originators to qualify more applicants with its intelligent mortgage credit reports that incorporate credit proofreading and rescoring tools. Other features of Funding Suite include private labeling, online access to the IRS to secure tax documentation and user-level access controls and detailed cost accounting for mid- to large-sized organizations.
“Originators need to be able to articulate to real estate agents and other financial professionals how they differentiate from other mortgage lenders in a meaningful way if they want to increase their non-customer referral business,” said William DiPaolo, chief executive officer of Cogent Road. “Mortgage originators need to go beyond scheduling lunches or offering swag to strengthen and expand their referral networks. The Originator Referral Toolkit within Funding Suite provides the tools mortgage professionals need to more effectively demonstrate to third-party partners the additional benefits they can offer and how a joint relationship is beneficial to them as well as their customers.”
For more information, visit www.cogentroad.com.