Cogent Road, a provider of Internet-based applications for the mortgage industry, has introduced a tiered pricing system for Funding Suite, its credit management platform, that provides automatically calculated discounts based on the volume of credit reports purchased each month by mortgage brokers and correspondent lenders.
Organizations ordering up to 25 credit reports per month pay the standard Funding Suite rate of $9.99 per credit report. Starting with the 26th file, brokers and correspondents receive volume-based discounts automatically generated through Funding Suite, the company explains.
Mortgage originators can use Funding Suite to manage all aspects of credit report ordering and assessment, including automatically identifying credit data errors and credit usage errors reflected on credit reports in order to legitimately strengthen credit scores for potential borrowers.
As the volume of credit reports purchased by all brokers associated with a corporate account increases, the price the organization pays for individual reports decreases. Volume and price-per-unit rates are reviewed and recalculated monthly by Funding Suite without the need to renegotiate pricing with Cogent Road.
Source: Cogent Road