QuestSoft (Laguna Hills, Calif.), a provider of compliance software and
geocoding services for lenders, announced at MBA’s
Annual Technology in Mortgage Banking Conference & Expo the availability
of CRA RELIEF® and
HMDA RELIEF® in a SQL
version for lenders needing the company’s
Windows®-based
Community Reinvestment Act (CRA) and Home Mortgage Disclosure Act (HMDA)
compliance software in a format compatible with SQL databases.
CRA RELIEF SQL and HMDA RELIEF SQL, which expand the range of QuestSoft’s
line of CRA and HMDA compliance software, were developed in response to
customer requests for scalable processing capabilities of loan data for
high volumes of loans. The update also gives lenders flexible and
enhanced reporting capabilities.
“As our customers grow, they produce higher
volumes of loans,” said Leonard Ryan,
president of QuestSoft. “Providing CRA RELIEF
and HMDA RELIEF in a SQL-compatible format gives our larger customers
the flexibility and speed they need to process higher volumes of loans
while still efficiently maintaining the annual CRA and HMDA submission
data.”
Ryan also added that in addition to the ability to offer customized
views and report generation, the new products also have very high
processing throughput. “Our benchmarks and
stress testing of the products over the past five months show that we
can process millions of records an hour. HMDA RELIEF SQL and CRA RELIEF
SQL are about two to three times faster than competitive products and
are capable of servicing any of the top lenders in the country,”
said Ryan.
CRA RELIEF evaluates the lender’s performance
and compliance with all federal CRA regulations for performance ratings
monitoring. Five major Lending Test reports categorize and address each
of the specific tests applied during the CRA examination. Eleven
additional market data reports are optionally available to analyze
specific assessment areas and compare peer data. QuestSoft has also
included a mapping export that can be used to view, print or e-mail maps
of lending activity.
HMDA RELIEF SQL offers lenders a compliance solution with enhanced
features to accurately prepare and submit HMDA data. Features include
summary performance reports and rate spread analysis reports by race,
ethnicity and gender. Fair lending fields are also collected and
available for analysis. The software also enables lenders to filter by
states or users and allows for exports based on these filters to conform
to lending inquiries from specific states without divulging excess
private information and subjecting lenders to risk beyond a state’s
jurisdiction.
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 provides software design,
compliance-quality geocoding and outsourcing services that are backed by
16 years of direct mortgage software and origination experience. In
addition, the company has received recognition for its many
technological accomplishments.
For more information about QuestSoft and its products, visit the
company's Web site at www.questsoft.com.
|