Cogent Road, a provider of Internet-based applications for the mortgage industry, announced the launch of AVAIL, an automated system designed to enable mortgage originators to provide continuing mortgage-qualifying services to prospective borrowers.
An extension of Cogent Road's Funding Suite, a credit management solution that manages costs and enhances customer retention during the loan origination process, AVAIL enables loan originators to more effectively establish and maintain contact with potential borrowers to create top-of-mind awareness among consumers, the company says.
Many originators lose prospective borrowers during the qualifying process, especially when it is drawn out over time. Without the mortgage professional's guidance, prospective borrowers mistakenly turn to questionable credit repair companies that falsely claim to clean up credit reports.
The AVAIL educational program is an alternative course of action for borrowers. Using AVAIL, originators can provide applicants with guidance on how to change their spending behavior, such as paying down high balances and using credit cards responsibly, in order to become more credit-conscious consumers, Cogent Road explains. AVAIL also manages client information to automatically notify originators when educated potential borrowers eventually achieve predefined credit score targets.
The online platform borrowers use to access the AVAIL program is branded with the originator's logo, photo, name and contact information to further strengthen interaction with the borrower.
Source: Cogent Road