QuestSoft Partners with Specialized Data Systems’ RemoteLender to Automate Mortgage Compliance
LAGUNA HILLS, Calif., Oct. 30, 2017 – As mortgage compliance becomes more complex, QuestSoft, the leading provider of comprehensive mortgage compliance automation, has partnered with Specialized Data Systems (SDS) to provide end-to-end digital mortgage compliance. The partnership integrates QuestSoft’s flagship software, Compliance EAGLE, with SDS’ loan origination system (LOS) RemoteLender®.
Through the integration, lenders can save time and avoid costly penalties by testing every loan for full adherence to national, state and investor rules and regulations both and pre- and post-closing. Applying new regulatory guidelines as they are released, Compliance EAGLE provides the most up-to-date system for compliance in a single platform. This integration delivers increased speed, ensures data integrity and enhances reporting capabilities as well.
“Lenders need trustworthy, easy-to-use systems to ensure every loan meets every regulation on the books,” said Marc T. Riccio, president of SDS. “Through our integration with QuestSoft, we offer our lenders a state-of-the-art system for quickly and easily taking the pain out of all types of mortgage compliance in the digital world.”
Compliance EAGLE provides RemoteLender users with automated compliance rule sets that can automate the screening of loans for adherence to Ability-to-Repay/Qualified Mortgage (ATR/QM), Home Mortgage Disclosure Act (HMDA), Home Ownership and Equity Protection Act (HOEPA), Office of Foreign Assets Control (OFAC), Social Security Number (SSN) checks, and additional regulations. Users can select the services, reviews and tests most needed to administer and quickly view the results, gaining valuable insight on which services have passed or failed. Furthermore, QuestSoft's Compliance EAGLE software verifies and complies with federal, state, local consumer and high cost tests.
RemoteLender is a customizable LOS which encompasses all loan types within one platform from point of sale to closing. This all-in-one loan origination software uses rules-based technology to provide the flexibility and configurability needed to create a system that will grow with the needs of an institution.
“Lenders require a system of record that takes the risk out of ensuring compliance while being simple to use at the same time.” said Leonard Ryan, president of QuestSoft. “RemoteLender’s integration with Compliance EAGLE provides that peace of mind and usability with one solution that ensures full compliance with the latest regulatory updates, applicable laws and secondary market guidelines for digital and traditional mortgages alike.”
About Specialized Data Systems
Specialized Data Systems, Inc. is an award winning software development company that provides Loan Origination System and Risk Management Solutions to the financial industry. Since 1989, they have been committed to providing best-in-class products and services. Learn how Specialized Data Systems helps banks, credit unions, and mortgage companies become more efficient by visiting their website at www.specializeddata.com.
Laguna Hills, Calif.-based QuestSoft is a leading provider of comprehensive compliance software and services for the mortgage, banking and credit union industries. QuestSoft combines 20+ years of mortgage regulatory, CRA and Fair Lending compliance analytics, data management and software design expertise with best-in-class customer service to consistently improve client compliance accuracy and facilitate smoother regulatory audits. QuestSoft products, interfaced with over 40 LOS providers, enable more than 2,500 clients to simplify and speed the collection, analysis, compilation and reporting of key lending regulatory report data. For more information, call 800-575-4632, ext 1, or visit www.questsoft.com.