April 22, 2008

Cogent Road Gains 245 New Corportate Customers in First Quarter 2008

Customer Gains Linked to Release of Funding Suite's Intelligent Credit Report in November '07

SAN DIEGO - Cogent Road, a provider of Internet-based applications for the mortgage industry, announced it had signed up 245 new customers for its Funding Suite credit management system in the first quarter of 2008. Adding additional customers to its client base brings the total number of mortgage companies using Cogent Road’s Funding Suite to 4,173, with 512 having used Funding Suite for more than four years. Funding Suite enables mortgage originators to automatically identify credit data errors and credit usage errors in order to legitimately strengthen credit scores for potential borrowers.

Much of this growth is attributed to the success of Funding Suite’s new Intelligent Credit Report, a dynamic display of client credit data that provides faster, more accurate prequalifying assessments than traditional paper-based credit reports during the origination of mortgages. The Intelligent Credit Report, launched in November 2007, provides originators with unique tools such as interactive tradelines, automatic detection of underwriting conditions and a wide array of free credit proofreading tools.

“I switched to Funding Suite because I believed it could improve my business,” said recent customer Oryana Leffew, Credit for Life manager of Eastwood Homes in Traverse City, Mich. “Not only can I clearly advise my clients about better credit use and file errors, I can legitimately qualify them more often.”

“As originators increase their scrutiny of borrowers’ credit histories, it is increasingly important to identify and resolve the mistakes in these files that can make the difference in how much borrowers pay for loans – or if they are approved at all,” said William DiPaolo, managing partner for Cogent Road. “It’s rewarding to know our new Intelligent Credit report is helping 245 additional mortgage companies clients detect these errors and improve credit file accuracy.”

About Cogent Road
Cogent Road develops Internet-based applications for the mortgage industry, such as Funding Suite®, 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.