San Diego-based Cogent Road upgraded its Funding Suite credit report management software with “digital document delivery” — a streamlined method for distributing and organizing mortgage origination documents. The software lets originators submit borrower documents to credit reporting agencies in four ways — PC upload, electronic faxing via a bar-coded fax cover sheet, virtual printing and scanning — eliminating the need for traditional fax machine-based communications. By reducing the paper transactions with electronic communications, Cogent said the origination process is faster. After a loan is originated, the documents are securely stored for retrieval, when needed. “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,” Cogent managing partner William DiPaolo said in a statement. Write to Austin Kilgore.
Cogent’s Funding Suite Adds Paperless Abilities
Most Popular Articles
Latest Articles
Labor market report is good news for mortgage rates
Friday’s jobs report came in as a miss of estimates and wage growth came in lower than expected, which is good news for mortgage rates.
-
Virginia Realtors: Zillow’s touring agreement may not be legal
-
Low inventory creates challenging conditions in North Carolina’s housing market
-
Tri-state area housing shortage could cost the region economically
-
Remote reverse mortgage counseling now permanently permitted in Massachusetts
-
NAR settlement terms slated to go into effect in mid-August