May 01, 2008

Cogent Road Includes Automatic Tiered Pricing in Funding Suite

System automatically decreases price per credit report each month as loan volume increases

SAN DIEGO - Cogent Road, a provider of Internet-based applications for the mortgage industry, announced 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.

Mortgage originators 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.

“Although corporate account holders can establish separate and distinct loan officer billing systems for credit reports, their aggregated volume discounts are based on the number of files purchased as a whole – a huge asset to mortgage net branches,” said Alan Baia, managing partner for Cogent Road. “We are able to offer price efficiencies for net branches that include the volume of the entire organization to enable them to receive previously unrealized purchasing power.”

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.