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QuestSoft Extends Access to The HMDA Academy Through First Quarter of 2020


LAGUNA HILLS, CALIF., November 6, 2018 – QuestSoft®, a provider of automated mortgage compliance software, has once again partnered with Key Compliance Services to continue to make The HMDA Academy available to Compliance RELIEF customers free of charge. The HMDA Academy provides up to the minute training, consulting, webinars, and tools to assist institutions with all of the new HMDA rules for 2018 and beyond.


“We are excited to be able to offer free access to the HMDA Academy for our customers, through March 2020” said Leonard Ryan, president of QuestSoft. “This enables lenders to have access to a great resource that would typically cost $1,500 to enroll annually.”


The HMDA Academy by Key Compliance Services provides training via webinars for unlimited viewing, plus charts and other tools related to HMDA. The platform allows for posting questions and receiving detailed answers to help understand all of the new and complex HMDA rules.


“We’ve had a great relationship with QuestSoft over the past few years,” said Kathleen Blanchard, president of Key Compliance Services. “With all the changes to HMDA this year, we anticipate there will be many situational questions that we can provide guidance on.”


The partnership between QuestSoft and The HMDA Academy started in 2016, a year before the new CFPB HMDA rules were implemented. Since 2016, there have been various updates to the rules—most notably was the S.2155 partial exemption rule that was passed as part of the Economic Growth, Regulatory Relief, and Consumer Protection Act. 2018 HMDA submissions will also include 215 new validity error codes and 52 new quality checks for institutions to scrub. Lenders that do not fall under the partial exemption rule will be submitting 3x the data to the BCFP (formally the CFPB).


QuestSoft’s customers will have unlimited access to The HMDA Academy until March 31, 2020. Compliance RELIEF HMDA customers can register for The HMDA Academy by logging in to their Download Center. For more information about The HMDA Academy, click here.


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 2,600 banks, credit unions and mortgage companies to simplify the collection, analysis, compilation and reporting of key lending regulatory report data. For more information about QuestSoft and its products, visit the company's website at www.questsoft.com.


About Key Compliance Services

Pennsylvania-based Key Compliance Services has been providing HMDA and CRA regulatory consulting and training services since 2006. Kathleen Blanchard, President of Key Compliance Services, has been working in the financial services industry for over 30 years and writes about HMDA and CRA issues at www.kaybeescomplianceinsights.com. The HMDA Academy was established in 2015 and provides HMDA training and consulting services to banks, credit unions mortgage lenders and consulting firms.

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