2000 Articles | 1999 Articles

QuestSoft Introduces Instant Geocoder 1.8 PLUS;

New Reports, Enhanced Graphics, Upgraded Import/Export Functions to Make Compliance More Efficient for Lenders

LAGUNA HILLS, Calif.--(BUSINESS WIRE)----QuestSoft, a provider of Home Mortgage Disclosure Act (HMDA) and Community Reinvestment Act (CRA) compliance solutions and geocoding services for lenders, announced the release of Instant Geocoder(TM) 1.8 PLUS, the latest version of the company's Instant Geocoder software system, which uses the up-to-date census tract demographic information to help lenders and brokers determine a potential loan's HMDA and CRA compliance value and marketability before issuing a loan quote.

Instant Geocoder 1.8 includes the most recent postal and census data along with new search and cross-reference features. The geocoding software enables users to cross reference cities with corresponding zip codes even in the event of a misspelling or incorrect zip code entry. According to company officials, one of the most valuable features enables users to view alternative addresses instantly when inaccurate data has been entered. Instant Geocoder is available in both Windows(R) and Extensible Markup Language (XML) based versions and uses the same data set for both products. Instant Geocoder is currently integrated into more than 28 mortgage and commercial loan origination and servicing software products, more than three times the number of mortgage systems of any competitor.

QuestSoft has also enhanced the census demographic data available with the version. Instant Geocoder 1.8 PLUS add-ons offer additional information regarding median income and all housing, demographic and income information contained on the federal regulators' Web site. These fields enable Instant Geocoder users to identify emerging market opportunities and measure the success of direct and targeted marketing efforts in seconds.

"Acoustic Home Loans has been using QuestSoft's HMDA RELIEF(TM) and Instant Geocoder since 2001, and we are extremely pleased with the quality and accuracy of both products," said Doug McMillen, projects and programming manager for Orange County, Calif.-based Acoustic Home Loans, LLC. "The enhancements for Instant Geocoder 1.8 PLUS increase our record accuracy, improve our reporting functionality and reduce the time we must spend on compliance."

The updates made to Instant Geocoder 1.8 PLUS further reduce research time for census tract lookups to help service brokers and lenders with more immediate information. Verifying loans at the point of origination enables brokers and lenders to quickly determine whether or not a loan is being originated in a low-to-moderate level income (LMI) census tract and gives them the opportunity to negotiate premium pricing from institutions that are in need of mortgage loans that qualify for CRA within an institution's assessment areas.

"Our flagship Instant Geocoder software product has been substantially enhanced with version 1.8 PLUS to meet the current and future compliance and marketing needs of our customers," said Leonard Ryan, president of QuestSoft. "Instant Geocoder can be integrated enterprise-wide to improve operational efficiency and increase profitability regardless of a company's structure."

Users of Instant Geocoder 1.8 XML can also geocode records at remote locations with the same ease as the Windows(R) version of QuestSoft's geocoding software. The XML version is ideal for companies that use the product in multiple geographic locations.

About QuestSoft

Laguna Hills, Calif.-based QuestSoft is a compliance software development firm specializing in the Home Mortgage Disclosure Act (HMDA), Community Reinvestment Act (CRA), flood determination and other settlement services to more than 1,200 banks, credit unions and mortgage companies nationwide. The company provides software design, compliance-quality geocoding and outsourcing services that are backed by 16 years of direct mortgage software and origination experience. In addition, the company has received recognition for its many technological accomplishments.

For more information about QuestSoft and its products, visit the company's Web site at www.questsoft.com.

For QuestSoft Elizabeth Salter, 678-781-7224 Chuck Meyers, 678-781-7204