|
HomeTrust saves three loans from buyback with Compliance EAGLE
LAGUNA HILLS, CALIF., Jan. 23, 2009 – Houston-based HomeTrust Mortgage, a retail lender with 30 branches in Texas, New Mexico and Missouri, installed QuestSoft’s Compliance EAGLE platform to enhance and improve their compliance and monitoring of loans. Compliance EAGLE, which integrates with HomeTrust Mortgage’s loan origination software (LOS) MORvision from ISGN/Dynatek, combines the most important components of mortgage lending compliance into a single turnkey system.
Patricia Gustafson, senior vice president of Operations at HomeTrust Mortgage, said they selected Compliance EAGLE, because the system gave their quality control departments a powerful tool to quickly and thoroughly review all loans in various phases of production and underwriting. HomeTrust Mortgage also cited the software’s use of the same compliance engine used by their investors, as a key factor.
“Our investors encouraged us to automate our compliance process, and QuestSoft met both of our requirements. They used the Mavent Expert System and their system integrated seamlessly with MORvision," said Gustafson. “In the short time we’ve been using the system, we’ve caught and corrected three loans that would have been rejected as high-cost. The income generated by those three loans has already paid for the system.”
QuestSoft’s Compliance EAGLE monitors and reports on all of the regulations affecting mortgages, including the Home Mortgage Disclosure Act (HMDA), Community Reinvestment Act (CRA), Truth in Lending Act (TILA), Home Ownership and Equity Protection Act (HOEPA), Federal, State and Local Anti-Predatory lending laws, state consumer lending, Office of Foreign Assets Control (OFAC) and Social Security Number (SSN) checks along with many other crucial compliance reviews including Flood Certification and Recording/Title Fee calculations.
Gustafson also added that HomeTrust’s positive experience with QuestSoft’s HMDA RELIEF software was a significant factor in their decision to use Compliance EAGLE.
“We have been using QuestSoft’s HMDA RELIEF for years,” Gustafson said. “The software has made our lives so much easier that we were thrilled when we learned that QuestSoft offered a complete compliance solution. QuestSoft’s customer support is very knowledgeable, and we get the answers we need every time we call. We knew that they could provide the same level of service with Compliance EAGLE.”
“In today’s mortgage market, it is important to instill investor confidence and ensure that all loans have undergone the strictest of compliance audits while adhering to operational efficiencies,” said Leonard Ryan, president of QuestSoft. “Just as it did for HomeTrust Mortgage, Compliance EAGLE can help all lenders consolidate compliance services while streamlining their existing processes.”
About HomeTrust Mortgage
HomeTrust Mortgage is a Houston-based retail lender that was founded in 1986. HomeTrust operates 30 branches in Texas, New Mexico and Missouri, and its executive team has more than 100 years of combined industry experience. For more information, please visit the company’s Web site at www.hometrust.com.
About QuestSoft
Laguna Hills, Calif.-based QuestSoft is an established provider of comprehensive and automated compliance software and services to the mortgage, banking and credit union industries. The company’s products enable more than 1,500 banks, credit unions and mortgage companies to simplify the collection, analysis, compilation and reporting of key lending regulatory report data.
|
|
