ProductionQC

ProductionQC, developed by Cogent QC Systems, is a loan production quality control software designed to streamline and automate the loan review process for lenders and servicers of all sizes. This platform is tailored to meet the needs of mortgage lenders, mortgage servicers, auto lenders, consumer lenders, and mortgage insurers.

Key Features:

• Customizable Automation: According to the vendor, ProductionQC can be customized to streamline and automate ancillary activities such as repurchase reviews, loan modification tracking, and mortgage insurance originations, potentially improving efficiency.

• Compliance with Fannie Mae Loan Quality Initiative (LQI): The vendor claims that ProductionQC meets the requirements of Fannie Mae's Loan Quality Initiative (LQI) for mortgages, ensuring compliance with industry standards.

• Statistical Sampling and Reporting: According to the vendor, ProductionQC's statistical sampling and reporting capabilities meet the requirements of Fannie Mae, Freddie Mac, and HUD for post-funding quality control and compliance audits.

• Complete Data Security: The vendor states that ProductionQC offers an on-premise solution, ensuring maximum security and control over confidential data. Data is stored behind the firewall and is never accessed by Cogent.

• Endless Adaptability: According to the vendor, ProductionQC is highly adaptable and customizable, allowing administrators to make modifications without assistance from IT or external vendors, potentially tailoring the software to specific workflows and requirements.

• Seamless Integration: The vendor claims that ProductionQC supports integration with other workflows and systems, including repurchase requests, servicing counter-party claims, and mortgage insurance curtailments, potentially enhancing overall operational efficiency.

• Automated Workflow Solutions: According to the vendor, ProductionQC offers industrial-strength workflow solutions that automate the complete quality control (QC) workflow cycle, potentially streamlining processes, increasing productivity, and reducing manual work.

• Sophisticated Reporting and Analytics: The vendor states that ProductionQC provides statistically valid management reports, findings reports, audit status reports, and custom reports. The software offers targeted risk area identification and root cause analysis, potentially maximizing quality control insights while reducing costs.