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LAGUNA HILLS, Calif., Aug. 17, 2006 – QuestSoft, a provider of automated compliance review solutions and Home Mortgage Disclosure Act (HMDA) compliance software, announced today that seven of the top ten largest credit unions by assets, all exceeding $3 billion, have selected QuestSoft as their automated mortgage compliance partner.
Callahan & Associates, a national credit union research and consulting firm, recently issued a list of the top 100 credit unions by assets (more than $1 billion). QuestSoft counts 60 of these credit unions amongst its customers.
“QuestSoft attributes its steady flow of new clients and long customer retention history to its reputable and reliable technology as well as superior customer service and training,” said Leonard Ryan, president of QuestSoft. “We value our credit union relationships and build our software around their input and compliance needs. Servicing 60 percent of the top credit unions year after year proves that our software is trusted and helps credit unions be more efficient no matter their size.”
QuestSoft offers lenders Compliance EAGLE, an end-to-end, fully automated compliance review solution that integrates with leading loan origination systems (LOS). Compliance EAGLE automates the entire mortgage lending compliance process into a single system. The comprehensive review system verifies loan data against HMDA, Truth in Lending Act (TILA), Home Ownership and Equity protection Act (HOEPA), and Real Estate Settlement Procedures Act (RESPA), among others.
QuestSoft’s other compliance products, HMDA RELIEF, Instant Geocoder and CRA RELIEF, assist lenders in simplifying the task of ensuring compliance within the institution. HMDA RELIEF guides the lending professional through the entire HMDA process and meets all Federal Reserve Board submission requirements, allowing for direct importing from mortgage software, geocoding, analysis of production and online references in a one-step submission process. Instant Geocoder provides address verification and census tract lookup capabilities. CRA RELIEF provides credit unions with the ability to compare their community representation in relation to banks that may compete within their field of membership.
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 complete compliance management to more than 1,500 banks, credit unions and mortgage companies nationwide. The company maintains the highest market share of any commercial supplier in two thirds of the targeted markets that its HMDA products service. In addition, the company has received consistent recognition for its many technological accomplishments.
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