Cogent Road Introduces New Shipping Module for Seamless Delivery of Mortgage Loan Documents to Investors

LA JOLLA, CA, July 28, 2012 (Press-News.org) Cogent Road, a provider of innovative cloud-based mortgage technologies, has introduced a unique enhancement to its Roohmz Mortgage (Enterprise) Management/Loan Production System--designed to automatically assemble loan documents in the correct stacking order to meet investors' specific requirements.

The Roohmz Document, Shipping and Insuring Module will help eliminate a serious problem lenders have faced when preparing loan files--incorrectly organized documents that result in delays and other problems. They previously have had to print and organize documents manually, a time intensive process. In addition, if investors subsequently receive the loan file with incorrect documents or in the wrong order, they have to make the correction.

Using the new Roohmz Module, an underwriter or other user only needs to make one keystroke to be certain that all the appropriate documents are included in the correct order according to investors' predetermined requirements. The system automatically adjusts to meet any additional requirements for individual loan types or state agency program guidelines. The Roohmz enhancement also helps eliminate the common problem of over and under documentation that occurs when loan officers and underwriters are uncertain about the amount of documents to be included in a closing file.

The finished loan package can be ready for submittal within minutes, compared to a much longer period when done manually. It can be transmitted to investors electronically in a PDF format or printed and shipped via FedEx.

"For the first time, lenders and investors can be assured that all documents will be arranged in the same correct order every time regardless of loan type or state," said Armando Roman, Director of Professional Services at Cogent Road. "We believe that this will provide a major time savings and improved efficiency in the overall loan process and ultimately help ensure that lenders receive a higher closing package 'grade' from their investors."

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 Reg B, Reg Z and 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.

For more information about the new Roohmz enhancement, visit www.cogentroad.com.

San Diego-based Cogent Road provides enterprise-wide, cloud applications for the mortgage industry. Solutions such as Funding Suite Credit Report Management, GRAVITY CRM/Lead Management and Roohmz Mortgage Loan Production System are used by more than 14,000 mortgage originators and lenders nationwide.

For more information about Cogent Road, visit www.cogentroad.com.

For more information about its Funding Suite software, visit www.fundingsuite.com