QuestSoft Revises Compliance RELIEF To Improve Regulatory Reporting

Posted by Patrick Barnard on June 29, 2015 No Comments
Categories : Residential Mortgage

Laguna Hills, Calif.-based QuestSoft Corp., a provider of automated mortgage compliance software, has updated its structured query language-based Compliance RELIEF software to prepare for the Consumer Financial Protection Bureau's anticipated Home Mortgage Disclosure Act (HMDA) changes and to enhance reporting and compliance capabilities.

According to the company, the software helps banks, credit unions and mortgage lenders process their compliance requirements in one integrated system via integrations with top loan origination systems.

Specifically, Compliance RELIEF offers analysis and reporting for HMDA, Community Reinvestment Act, Fair Lending, NMLS Call Reporting and Geocoding Verification Services ‘under one compliance umbrella.’

Further, the software stores years of data reporting for consistency – establishing uniform data integrity standards and enabling the program to easily accommodate future federal or state compliance regulations. Designed to operate in any modern Windows platform, the product also features integrated digital mapping and up-to-date market data for comparison purposes.

‘Compliance RELIEF is the easiest, most robust way to comply with the critical compliance demands and reporting requirements of today's heightened regulatory environment,’ says Leonard Ryan, QuestSoft's president. ‘The software is the only tool on the market that helps lenders manage both the federal and state reporting regulations simultaneously in one consistent package.’

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