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Special Report - Expert Says Originators Should Train Borrowers
If there was one message that he would get out to the industry, said an executive with Cogent Road, a provider of credit reporting management technology here, it would be it is important to train the "forgotten participant," your borrowers.
William DiPaolo, managing partner, said there are tens of thousands of originators that use the company's software. It has an ongoing series of training webinars. "What we have discovered over the years, by staying in touch with our mortgage originators and training them, is that there is an opportunity with technology" to what the company calls "recover" (turn into approved) 20% of their declined clients.
Mortgage originators need to become familiar with this process, Mr. DiPaolo said, but even more key is that the borrower is an integral part as well..
Please visit the Origination News website to read the rest of this article.
About Cogent Road
Cogent Road develops Internet-based applications for the mortgage industry, such as Funding Suite(R), the industry's first, true Credit Management Platform. Currently utilized by more than 30,000 mortgage professionals nationwide, Funding Suite helps clients qualify more applicants with its unique Intelligent Credit Report and protect applicant data via data suppression and computer access restrictions. For mid to large-sized clients, Funding Suite also offers robust user-level access controls and detailed cost accounting. For more information about Cogent Road, visit www.cogentroad.com. For more about Funding Suite visit www.fundingsuite.com.
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