Throughout Year 2016
QuestSoft to establish CFPB HMDA specifications and implement software changes to prepare Compliance RELIEF** for testing during Year 2017.
QuestSoft to publish DRAFT specifications for CFPB HMDA to LOS partners. -- Done
QuestSoft to publish final CFPB HMDA specifications to LOS partners and authorized customers.* -- Done
Customers can also obtain specifications via our website (via a signed Non Disclosure Agreement [NDA]).
QuestSoft to release Phase I Compliance RELIEF** software with CFPB HMDA changes. Customers and vendors can begin testing using live borrower data but the data will not be used for submission. -- Done
QuestSoft to update both HMDA RELIEF and Compliance RELIEF** software to include the required 2017 pipe delimited submission forma (effective for submissions due 3/1/18).
QuestSoft to update Compliance EAGLE Instant HMDA loan level review with CFPB HMDA changes* for customers to begin testing.
January 1, 2018
Exclusive live operation of CFPB HMDA rules.
All customers will be migrated to equivalent Compliance RELIEF products with their Year 2018 downloads.
NOTE: The legacy versions of HMDA RELIEF, CRA RELIEF and Call Report RELIEF will not be updated for Year 2018 data. However, QuestSoft will continue to fully support the Year 2012‐2017 versions of these products for submission and resubmission of data to regulatory agencies through the end of Year 2018. At that time prior year versions dating back to year 2012 will be supported through Compliance RELIEF.
Do you want more info on all the CFPB HMDA changes and how they will affect you?
CLICK HERE to check out QuestSoft's CFPB HMDA Resource Center and get the facts.