Mortgage Technology, September 2011, Page 36

Compliance Checklist

Lenders have long complained about redundant and burdensome regulatory oversight. Meanwhile, the housing meltdown spurred political calls for more aggressive consumer protection. That sounds like a recipe for discontent.  But state banking regulators believe that by leveraging the right technology, they can both ease the examination burden on mortgage companies while doing a more thorough search for any potential compliance problems. Full Story...

Mortgage Technology, June 2010, Page 8

The Pressing Compliance Issues

The mortgage industry has been under increasing and constant scrutiny since the market began to crash in 2008. Consumers and legislators are clamoring for a crackdown on mortgage-related legislation and an increase in mortgage lending oversight. In just the first five months of 2010, federal and state agencies have implemented 17 new regulations that are significant enough to be included in compliance software systems. This number may seem small, but it only signifies the beginning as hundreds of regulations are proposed or pending implementation and thousands of changes are being considered at any time in legislative committees. QuestSoft president Leonard Ryan outlines what every lender needs to know about this year's top mortgage compliance issues in the June issue of Mortgage Technology. Read the full article...

MBA NewsLink, April 22, 2010

Survey: RESPA Still Highest Compliance Concern

A yearly survey of lenders said changes to the Real Estate Settlement Procedures Act continues to pose the most significant mortgage compliance concern. Full Story...

Mortgage Technology, February 4, 2010

Can Technology Ensure Compliance?

Mortgage Technology, December 23, 2009

Compliance is King

QuestSoft President prominently quoted about the future role of compliance technology integration in December 23, 2009 Mortgage Technology article.

In a recent article written by Anthony Garritano, editor of Mortgage Technology Magazine, Leonard Ryan, President at QuestSoft talks openly about recent rigorous compliance legislation, and the importance of automating compliance workflow into daily loan management. Click to read the full article.

ABA Community Banker, August 2009, page 44

Decrease Risk and Save Money on CRA Compliance

MBA NewsLink, March 27, 2009

Q/A with Leonard Ryan of QuestSoft

MBA NewsLink's Mike Sorohan sat down with Leonard Ryan, president and founder of QuestSoft, Laguna Hills, Calif., at the recent Mortgage Bankers Association's National Technology in Mortgage Conference & Expo in Las Vegas to discuss the state of compliance legislation and what lenders can do to prepare for the changes. Read the full story at MBA NewsLink.

Mortgage Technology Magazine, December 2008; pages 35-39

Crackdown on Fraud

Mortgage Technology Magazine's Tony Garritano takes a look at how desperate times are leading to increased mortgage fraud, and the technology that can help detect and prevent it.

"Three years ago, we didn't have [certain fraud prevention technology] out there", said Leonard Ryan, founder and president of QuestSoft. Now, we can check for every needle in the haystack."

Mortage Banking Magazine, September 2008; pages 56-61

Buyback Prevention - By Leonard Ryan

Buyback demands from investors have cost the mortgage industry real money in recent times. Careful attention to compliance prior to funding can prevent some of these costly problems.

Click Here for Full Story...

Mortgage Technology, July 2008; pages 23-27

Zipping Up Integrations Tighter

The old best-of-breed vs. end-to-end debate is quickly fading. Technology advances around XML, Web services and data standardization through MISMO make it easier for vendors to more tightly integrate. The tighter the integration, the more value for the end user. Del Mar DataTrac and QuestSoft recently integrated their services.

“QuestSoft was the first integration we did after going independent again. We worked very closely together to create an embedded integration. QuestSoft did have the right technology and they are a great partner." - Rob Katz - President - Del Mar DataTrac

Mortgage Technology Newsletter, May 8, 2008

Integration Ensures Better Compliance

James Comtois covers the recent partnership of Del Mar DataTrac and QuestSoft for the release of Vendor Services Platform (VSP) 2.0. The platform offers seamless two-way integrations between a lender’s database of record and vendor systems to ensure compliance with local, state and federal lending laws.

Customers can order QuestSoft’s compliance reviews directly through DataTrac, instantly receiving complete responses, which can be analyzed and saved within their database of record. The ability to quickly process and analyze compliance results ensures real-time, pinpoint accuracy with all regulations and standards for DataTrac clients.

MBA Tech Newslink, April 29, 2008; Online

Tech Vendors Leverage partnerships with other Vendors

Partnerships between technology vendors and other technology companies are increasing today as a means to provide higher quality for customer satisfaction. With integration becoming easier in the mortgage market, software-as-a-service and Web services are becoming easier to implement. While also remaining focused on the lender’s experience partnerships are becoming ever prevalent today. “What we end up doing because of partnerships aims to save time for lenders,” said Leonard Ryan, president and founder of QuestSoft.

Inside Mortgage Technology, April 18, 2008;

Southeast Lender Saves Time On Compliance Reporting

Superior Bank implements QuestSoft’s HMDA RELIEF compliance program as well as the Instant Geocoder platform. Benefits that were gained by Superior Bank are highlighted such as elimination of human error, data entry corrections, report preparation and regulatory exams data gathering ease.

Community Banker March 2008; page 48

CRA Reporting Made Easy

Carol Ann Spencer discusses the gains that Security Savings Bank has acquired though the implementation of QuestSoft’s CRA RELIEF. From the quick and easy import options to generating geographic breakdowns of loans issued by the bank, the benefits to the bank are mentioned throughout the article.

ABA Bank Compliance January/February 2008; pages 20-24

Keys to Surviving and Benefiting from CRA Compliance

Discusses the main source of bank income as being loan revenue. Loans derived from communities in the low and moderate income markets for the most part are investigated. Carey Aimone discusses the expectation to effectively manage a CRA program while helping reader understand the keys to surviving a CRA examination.

Credit Union Journal November 5, 2007; page 40

Patelco Credit Union Receives Annual "Compliance Best Practices" Award Through Use of HMDA RELIEF

The regulatory compliance required by mortgages is enough to put off many potential lenders. Patelco Credit Union, which found out the hard way the kind of complications that can arise, found a way to automate a major portion of the compliance reporting procedure, saving time and money. Patelco implemented QuestSoft's HMDA RELIEF. Mat Stanfield said it automates "as much of the process as can be automated. It takes a very manual process and allows us to automate it to the fullest extent."

MBA Newslink November 1, 2007; Online

Market Provides Opportunities for Technology and Compliance Vendors

While many in the housing industry are negatively impacted by an ailing housing market, Vijay Palaparty discusses that challenges in the housing market provide opportunities for technology and compliance vendors to help increase efficiencies and improve processes. Not only could they implement changes, but also grow through collaboration. Vendors remain relatively optimistic.

National Mortgage News October 15, 2007; page 45

Executives Say Firms Could Do More to Avoid Assignee Liability

According to observations from four top industry experts, mortgage investors and securitizers are not doing a good enough job at protecting themselves from assignee liability.These industry executives, representing QuestSoft Corp., Mavent Inc., MRG Document Technologies Inc., and Netupdate, also noted that the Federal Housing Administration is making an ill-advised decision to push for risk-based pricing.

Community Bankers October 1, 2007; page 14

Navigating CRA Exams: No Nail-Biting

Although failing the CRA Exam can be consequential, it can also be avoidable. Simple planning and preparation can ensure a positive rating. Leonard Ryan, president of QuestSoft Corp. provides four strategies to implement to your CRA program. These strategies include defining an assessment area, knowing ISB rules on community development, developing a self-assessment program and collecting data at all times.

Credit Union Magazine, October 1, 2007; Operations

Practice 'Pre-Emptive Compliance'

One of the most effective military strategies is the pre-emptive strike, because it almost always provides the advantage to the forces taking the initiative. The same is true for credit unions that practice "pre-emptive compliance" to avoid risks and enhance member service and marketing opportunities. Full Story...

National Mortgage News, September 10, 2007; page 22

Automation Vendors Eye Prospects; The vendor sector has seen layoffs but some companies have been doing some selective hiring

Along with the mortgage industry, vendors that sustain the industry have also felt the effects of the credit slump on their businesses. But as their business continue to face these consequences, vendors are also taking advantage of recruiting and training opportunities, amid the rough times.

An interview with three industry insiders also indicates that there appears to be some distinctive dynamics for these market participants

BankNews, June 2007; Page 16

"QuestSoft Releases CRA RELIEF 2.5"

CRA RELIEF 2.5 adds five major reports to categorize and address each of the specific lending tests applied during the CRA examination. Eleven optional market data reports analyze specific assessment areas tailored to compare data across peers.

Credit Union Tech Talk, June 2007; Vendor Case Studies

CASE STUDY: Patelco Credit Union Finds Relief for HMDA Submissions

With QuestSoft's solutions running, the full-time HMDA staff person was reassigned to other duties. Stanfield completed the filing himself due to the efficiencies gained with QuestSoft's programs. Stanfield describes the system now: "with a few clicks of the mouse I can import all of our mortgage data from our Loan Origination System into HMDA Relief, and Instant Geocoder handles all of the geocoding automatically." On the rare occasion that he has contacted the QuestSoft Help Desk for support, he was pleased to find that "they are very well versed in their products and quite helpful. They resolved my issues in just a few minutes every time." Full Story...

MBA NewsLink, March 19, 2007

"Compliance Tools Address Industry Losses"

Compliance in the mortgage lending industry continues to be an increasing priority for lenders as federal, state and county regulations step up regulatory efforts. Stephanie Ochoa, QuestSoft's vice president of compliance service notes, "compliance initially looks like overhead, but it truly reduces risk."

Inside Mortgage Technology, February 16, 2007; Page 6

"Compliance Provider Alliances Offer More Robust Solutions"

Technology is working to ease HMDA reporting burdens by automating much of the process. Leonard Ryan, founder and president of QuestSoft, makes the case that HMDA RELIEF, licensed by more than 1,600 financial institutions, saves companies a significant amount of time and money on labor costs by automating reporting chores.

Inside Mortgage Technology, January 5, 2007; Page 5

"Lenders Looking to Expand Find Help in HMDA Database"

Lenders are looking to expand their territorial footprint to maintain volumes, while remaining competitive in a tighter market. One solution - QuestSoft takes the HMDA data and reformats it into a searchable database. The result is a tool that enables users to see data from 8,900 HMDA filers.

Credit Union Business, December 2006

"The POSITIVES and the NEGATIVES of Latest HMDA Figures"

Leonard Ryan weighs in on the 2005 HMDA figures and the implications of them. "Critics might be able to say HMDA data shows that banks are serving minority areas better - thus the Community Reinvestment Act is working, so why not apply it to Credit Unions?" Ryan observes.

Bank Technology News, November 2006

"Automated Process is Key to Compliance"

"Los Alamos National [Bank] is among those banks moving away from manual processes to ensure compliance with CRA and HMDA regulations to better serve their customers." QuestSoft's software automates and simplifies the bank's compliance processes.

Mortgage Technology, November 2006

"Technology to Prevent Predatory Lending"

Hayhurst Mortgage has "moved to automate HMDA reporting with great success" using QuestSoft's HMDA RELIEF. The user-friendly software enables lenders to screen for and eliminate potential predatory lending practices. "HMDA requirements are changing every year," and lenders need to adjust as well.

National Mortgage News, October 11, 2006

"Ochoa: Cutting Fair Lending's 'Gordian Knot'"

Stephanie Ochoa, vice president of Compliance Services for QuestSoft, says mortgage bankers and brokers have to honor compliance laws, but the laws are vague and ambiguous. "Compliance and regulatory laws.sometimes cause more harm than help"

MBA Tech NewsLink, September 26, 2006

"When Community Groups Come Knocking: Manage HMDA Data to Prove Compliance"

"Lenders should always be prepared to compensate for what HMDA data lacks.[including] credit scores, the quality of the home and the size of the down payment.Lenders use these data as a basis for their decisions.however, community groups do not take this into consideration."

National Mortgage News, September 25, 2006

"Technology Aims to Prevent Compliance Errors"

Hayhurst Mortgage automates and simplifies HMDA reporting and submission with QuestSoft's HMDA RELIEF. QuestSoft's software reduces the possibly for human error and provides users with easy entry and reporting capabilities. Hayhurst officials said, "it's important that I don't submit a report to HMDA with errors."

Credit Union Journal, September 4, 2006

"It Would Benefit CUs to Comply with CRA Now"

In a letter to the editor, Leonard Ryan advises credit unions to voluntarily comply with CRA requirements. By being proactive, credit unions can more effectively compete with banks, identify emerging markets and reduce potential attacks from consumer advocacy groups.

Mortgage Banking, September 2006

"HMDA Revisited"

Leonard Ryan advises financial institutions to be proactive and prepare in advance for HMDA compliance. "Lenders need to fully realize what HMDA data do not tell us in order to counter consumer groups' misinformed claims," said Ryan.

Credit Union Times, August 23, 2006

"Seven of Top 10 Largest Credit Unions Using QuestSoft for Mortgage Regs"

Seven of the top 10 largest credit unions, all with more than $3 billion in assets, utilize QuestSoft's software to automate their compliance processes. QuestSoft's solutions ensure compliance with CRA, HMDA, TILA and other necessary requirements.

MBA Tech NewsLink, July 4, 2006

"Lenders, Consumer Groups More Savvy on HMDA Data"

Consumer groups are looking at HMDA data with concerns of loan pricing rather than on who is getting the loan. Comments from QuestSoft, the National Community Reinvestment Coalition (NCRC) and the Federal Reserve analyze the significance of HMDA numbers, pricing and credit scoring.

Bank News, June 2006

"QuestSoft to Integrate GeoDataVision Peer Data"

QuestSoft's partnership with GeoDataVision (GDV) integrates select GDV data and reporting products into QuestSoft's CRA RELIEF and HMDA RELIEF. The alliance enables financial institutions to ensure compliance and to help QuestSoft customers expand into new markets and maximize their current presence.

Mortgage Technology Newsletter, April 20, 2006

"Duo Makes it Easier to Analyze and Manage Performance"

QuestSoft forms an alliance with GeoDataVision (GDV), a market analysis and regulatory compliance company, to integrate select GDV data and reporting functions into QuestSoft's software. The integration enables banks to easily analyze and manage performance under Community Reinvestment Act requirements

Credit Union Times, February 1, 2006

"BECU Easing its HMDA Reporting Headaches with QuestSoft Solution"

Tukwila, Wash.-based Boeing Employees Credit Union (BECU), with more than $6.5 billion in assets, automates HMDA compliance with QuestSoft's HMDA RELIEF. A BECU official describes HMDA as "extremely cumbersome" before the credit union deployed the software solution. Since installment, they "are saving weeks.every quarter."

Mortgage Technology Newsletter, August 18, 2005

"Compliance, Compliance, Compliance"

Compliance technology vendors gather for a panel discussion to address compliance issues and using automated technology to stay ahead. "The main benefit of automated compliance technology is finding problems before they become an issue," said Leonard Ryan.

Credit Union Times , April 27, 2005

"Compliance EAGLE Offers Automated Reviews for Mortgage Lenders"

QuestSoft offers Compliance EAGLE, and end-to-end, fully automated compliance review solution. With the capability to integrate with leading loan origination systems, the software automates and simplifies the entire mortgage lending process in one comprehensive system.

National Mortgage News, March 21, 2005

"QuestSoft Launches Compliance Tool"

QuestSoft announces the release of Compliance EAGLE, the company's end-to-end compliance review software. The new product automates the compliance process in a single system and allows users to address errors pre-closing of the loan."With Compliance EAGLE, originators can run loans on an individual basis to check for compliance."

Mortgage Technology, January 1, 2005; Page 34

HMDA Relief in Sight

Virginia Beach, Va.-based Enterprise Mortgage turned to QuestSoft's HMDA RELIEF when the 2004 changes in HMDA reporting made their old system obsolete. Following the installation, Enterprise said HMDA RELIEF, "saved them thousands of dollars by saving us tons of hours."

American Banker, November 10, 2004; Page 4A

Changes to HMDA Keeping Bankers Busy - and Wary

All of the 2004 changes to HMDA reporting have banks wary of the cost and strain on their employees. QuestSoft is one of the vendors offering software solutions to assist banks in making the transition seamlessly and cost-effectively.

American Banker, November 10, 2004; Page 5A

HMDA Becomes a Musical Act

QuestSoft president Leonard Ryan brings fun to HMDA reporting with his new "hit" song "HMDA" (sung to the tune of the Village People's "YMCA"). The quirky little tune was conceived at a home equity conference.

Origination News, November 1, 2004; Page 42

Making it Easier to Make Compliant HMDA Loans

QuestSoft releases HMDA RELIEF 7.3, an upgrade including enhanced features to aid in completion of 2004's more complex HMDA reporting requirements. The software uses plain English to help pinpoint data entry errors and accurately stay compliant with HMDA and CRA.

Credit Union Times, July 28, 2004; Page 28

Complying Electronically: Bethpage FCU

Bethpage, NY-based Bethpage Federal Credit Union installed QuestSoft's HMDA RELIEF following the 2004 changes to HMDA reporting. The easy-to-use system has allowed Bethpage FCU to complete the new reporting quickly and accurately using only one staff member.

Mortgage Technology, June 1, 2004; Page 49

Technology Top 100

QuestSoft made Mortgage Technology's top technology vendors of 2004 list! One of the developments that helped the company make the list was being the first to offer 2000 US Bureau of Census data in its geocoding and HMDA RELIEF systems.

American Banker, May 21, 2004; Page 10

Give Banks a Good Reason to Shoot for Outstanding

Ken James, QuestSoft's vice president of compliance services, writes to the editor of American Banker that more banks may strive for "outstanding" CRA grades if incentives were provided. He outlines some ideas that would encourage banks to obtain the grade.

Mortgage Technology, April 1, 2004; Page 14

New HMDA Changes Cause LOS Headaches

QuestSoft president Leonard Ryan details how the 2004 changes to HMDA reporting will affect lenders with requiring 19 new fields. He also explains how QuestSoft's HMDA RELIEF simplifies the new reporting rules with one system to easily complete HMDA reporting.

Bank News, March 1, 2004; Page 16

QuestSoft Provides CRA Relief

QuestSoft releases CRA RELIEF, a partner to HMDA RELIEF, a cost-effective risk management software solution that ensures lenders meet all federal CRA regulations for performance ratings and process evaluations in a one-step submission.

National Mortgage News, February 16, 2004; Page 1

HMDA Changes Hit LOS

QuestSoft president Leonard Ryan details how the 2004 changes to HMDA reporting will affect lenders. He explains how QuestSoft's HMDA RELIEF simplifies the new reporting rules with one system to complete HMDA reporting.

Bank Systems & Technology, February 2004; Page 14

Briefs: Mortgage Builder

Mortgage Builder Software integrated QuestSoft's Geocoder PLUS into its LOS, enabling users to quickly identify low- to moderate-income census tracts. The integrated system helps users determine a potential loan's HMDA and CRA compliance value and marketability before issuing a quote.

Mortgage Technology, January/February 2004; Page 42

Compliance Made Easy

Compliance doesn't have to be a nightmare. LoanCity compliance officer Brenda Gambol shares her experience in using QuestSoft's HMDA Relief to overhaul HMDA reporting and save significant man-hours. Gambol said the process - installation, training and implementation - was simple and hassle-free.

American Banker, December 12, 2003; Online

What CRA Regs Need: Tweaks, Overhaul, or Nothing?

QuestSoft president Leonard Ryan writes to American Banker to express his view that performance-based CRA regulations have been good for the industry and institutions now better understand how to meet regulatory obligations.

Bank News, November 2003

"HMDA Reporting Regulations are Changing.Will You Be Ready?"

The only way for financial institutions to be prepared for the upcoming HMDA regulatory changes is to educate and train its employees. Leonard Ryan highlights changes and advises institutions to be proactive and plan ahead.

Credit Union Times, October 22, 2003; Page 24

QuestSoft Software makes compliance job a lot easier for UNFCU

United Nations FCU is using QuestSoft's HMDA Relief and Instant Geocoder to secure mortgages. UNFCU's manager of mortgage processing and underwriting, Brian Handler, said the software enables his staff to increase efficiencies and speed member service.

Mortgage Banking, September 2003; Page 89

"HMDA Changes for 2004 and The Best Ways to Deal With Them"

2004 marked a year of significant changes to HMDA regulations. Leonard Ryan addresses the amendments and the impact reporting changes will have on the lending industry."One of the most significant changes to the HMDA regulations for 2004 is the new rate-spread test."

Credit Union Journal, July 21, 2003; Page 7

The Happy Home (Lender); New Software Has Reduced the Tedium For One Credit Union

Robin Nelson, assistant vice president of real estate at Travis Credit Union in Vacaville , Calif. , said using QuestSoft's HMDA Relief has cut the time spent on compliance reporting dramatically."HMDA reporting is now just a matter of hours every quarter," Nelson said.