QuestSoft Enhances Compliance VERIFY Software To Satisfy ATR/QM Rules

Posted by Patrick Barnard on November 21, 2013 No Comments
Categories : FYI

To help lenders satisfy the Consumer Financial Protection Bureau's ability-to-repay (ATR) rule, QuestSoft Corp. has enhanced its Compliance VERIFY software by providing users with full Internal Revenue Service (IRS) 4506-T and Social Security Administration (SSA-89) verification services. In addition, the company has integrated electronic transcripts into its Compliance EAGLE qualified mortgage (QM)/ATR pre-funding solution.

Compliance VERIFY provides a simple interface for ordering, collecting and organizing income and Social Security Number verifications. QuestSoft can also accept e-signed 4506-T submissions with seven e-sign companies including Communication Intelligence Corp., DocMagic, DocuPrep, DocuSign, eSignSystems, IDS and Silanis.

Other e-sign, loan origination software and document services can be readily integrated with Compliance VERIFY using QuestSoft's free software development kit.

‘The ATR rule has placed unprecedented pressure on lenders to achieve compliance, quickly and efficiently,’ says Leonard Ryan, president of QuestSoft, in a release. ‘Compliance VERIFY automates the ATR process, organizes and tracks IRS requests, and includes e-signatures, simplifying the process for users and offering the option of a paperless workflow.’

Integration of transcript information directly into the Fannie Mae Form 1084 for self-employed borrowers will be made available at no additional charge before year-end, the company reports. What's more, the company plans to add new features that provide advanced multi-year analysis of tax returns as well.

Register here to receive our Latest Headlines email newsletter




Leave a Comment