Cogent Road, a provider of innovative cloud-based mortgage technologies, has added two major enhancements to its Roohmz Mortgage (Enterprise) Management/Loan Production System—offering unique parallel pathing and workflow forecasting capabilities. Roohmz’s parallel pathing functionality enables underwriters, processors and other users to work on different elements of a loan file simultaneously. Until now, linear sequencing necessitated that loan files had to be transferred in order from station (worker) to station and each person had to complete the assigned task before the file could move forward.
Roohmz also features a new Workflow Forecasting (widget) component that automatically predicts how many loan files workers will receive in the next 24- or 48-hour periods in real-time. It is able to “read” when each person receives a file, how long they have it, and then predict a completion time, along with employee scheduled to next receive the files. Managers are now able to analyze the loan’s current status, anticipate delays, and forecast a future work flow. This will help ensure optimum scheduling and also substantially reduce production time.
“The combination of these new enhancements to Roohmz workflow management are designed to greatly improve the overall loan transaction process, enabling underwriters and others to work more efficiently and thereby improve production,” said William DiPaolo, chief executive officer of Cogent Road. “Equally important, managers will have a powerful forecasting tool to better monitor and streamline their loan pipelines.”
First introduced in 2010, Roohmz Mortgage Enterprise was the result of the company’s expertise in data packaging and analytics to provide a workflow management system that continually monitors loan data from application to origination. Roohmz ensures loans are underwritten accurately every time, significantly reducing the risk of loan buybacks. It keeps every loan in compliance with Regulation B, Regulation Z and the Real Estate Settlement Procedures Act (RESPA), and automatically delivers adverse notices when necessary. Roohmz provides workflow automation, paperless origination, complete with e-signing and automatic assembly of loan packages to investors.