QuestSoft Corp., a provider of automated mortgage compliance software, reports that it has seen significant growth of its Compliance EAGLE solution during the past two months, adding more than 40 customers and positioning the company to process more than 1 million loan reviews by year-end.
The company says it saw its largest influx of new customers in company history during the past year – many of them signing up for the company's Web-based software in January and February.
‘When the Consumer Financial Protection Bureau's (CFPB) mortgage rules went into effect on Jan. 10, the mortgage industry was ill-equipped to handle the new processes and fine-print details of the regulations,’ says Leonard Ryan, president of QuestSoft, in a release. ‘These regulatory demands are fueling QuestSoft's growth due to the fact that the rules are so complex, and QuestSoft makes complying with the rules much easier.’
Compliance EAGLE, QuestSoft's flagship software, automates the entire mortgage lending compliance process in a single system, providing financial institutions with the necessary automation, data integrity and rule engines needed to ensure compliance. New customers cite the software's ease of use, comprehensive testing and reporting features as key factors in their decision to work with QuestSoft.