Cogent Road has announced several enhancements to its Funding Suite v3.0. The latest addition is a new Underwriting Conditions Scan (UC Scan). With a UC Scan, every credit file is scanned to detect the conditions and underwriting flags that may be indicated by Fannie Mae's Desktop Underwriter. All results are listed in simple language that enables mortgage originators to resolve conditions before the file is processed through Fannie Mae.
Another enhancement is Funding Suite's new reason code display that describes exactly why a credit bureau is either unable to score an applicant, or failed to return a file for the applicant. New tools also include the ability to preserve existing scores when rescoring one or two bureaus. In the past, when a single bureau was rescored, it was necessary to re-order all bureaus in order to maintain a Fannie Mae and Freddie Mac re-issuable file.
Cogent Road has also launched Score Protection, Funding Suite's newest technology offering designed to eliminate additional inquiries by protecting any of the scores in a pre-existing file, provided the original file is less than 30 days old. Funding Suite's automated credit proofreading tolls help originators detect errors in credit files that work against the applicant by lowering his credit score.
Cogent Road, based in San Diego, Calif., is a provider of Internet-based applications for the mortgage industry. For more information, call (800) 848-2514 or visit www.cogentroad.com.