Cogent Road, a provider of Internet-based applications for the mortgage industry, has made its AVAIL product, a fully automated educational program for potential borrowers to improve credit health with the assistance of a broker, available in beta status with select clients of Cogent Road's Funding Suite. AVAIL will be available to all Funding Suite mortgage originators in the third quarter of 2008 at no additional cost.
The consumer-focused program incorporates Funding Suite's automated credit proofreading tools to identify and resolve potential data errors that may work against customers' credit scores, the company explains. The program also provides customized, step-by-step credit usage suggestions for consumers that improve their overall credit health. Throughout the yearlong process, credit usage strategies are modified based on the consumer's previous actions. AVAIL detects when positive steps have been made and provides encouragement when needed.
Consumers enroll in the AVAIL program through a professional mortgage originator who then serves as the consumer's credit coaching advisor. The AVAIL program is branded with the originator's logo, photo, name and contact information to further strengthen interaction with the mortgage originator. The mortgage originator is automatically notified when a consumer achieves predefined credit scoring targets.
Source: Cogent Road