AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

QuestSoft Adds CRA Saleability Analysis to Compliance EAGLE Platform

November 25, 2019 GMT

LAGUNA HILLS, Calif.--(BUSINESS WIRE)--Nov 25, 2019--

QuestSoft Corporation, the nation’s leading provider of automated mortgage compliance software, has added a CRA Saleability module to Compliance EAGLE, the company’s end-to-end mortgage compliance platform. The new module enables lenders to uncover additional opportunities for revenue generation through the identification of CRA-qualified loans in low- and moderate-income (LMI) areas at the point of application.

The CRA Saleability tool helps lenders identify potential investors based on geographic location. Lenders can conduct their own analysis on each loan, and identify investors based on CRA assessment area. The tool also helps banks enhance their CRA compliance by quickly identifying loans in LMI areas to help the institution better serve their community.

“With mortgage volumes expected to be flat in 2020, lenders need every advantage possible to maintain profitability while continuing to serve all areas of their local community,” said Leonard Ryan, founder and President of QuestSoft. “The CRA Saleability tool helps lenders identify opportunities in LMI markets while maximizing the return on investment possible in the secondary market. This is just another example of how big data can help lenders become more profitable while simultaneously demonstrating their commitment to the communities they serve.”

For nearly 25 years, QuestSoft has specialized in financial lending compliance, including the Home Mortgage Disclosure Act (HMDA), Community Reinvestment Act (CRA), fair lending, automated compliance rules and other settlement services. Compliance EAGLE provides lenders with address verification, testing for Federal, State and Local High Cost rules, full TRID compliance, identification of loans that qualify for CRA credit, and demographic data for identifying emerging market opportunities. The software’s unique, automated risk management solution combines QuestSoft’s years of HMDA and CRA compliance expertise with a comprehensive compliance rule set to ensure unsurpassed compliance results.

About QuestSoft ®
Laguna Hills, Calif.-based QuestSoft is a leading provider of comprehensive compliance software and services for the mortgage, bank and credit union industries. QuestSoft combines 20+ years of mortgage regulatory, CRA and fair lending compliance analytics, data management and software design expertise with best-in-class customer service to consistently improve client compliance accuracy and facilitate smoother regulatory audits. QuestSoft products, interfaced with over 40 software providers, enable more than 2,500 banks, credit unions and mortgage companies to simplify and speed the collection, analysis, compilation and reporting of key lending regulatory report data. The company’s software helped lenders submit over eight million error-free transactions to regulators in 2018. For more information, call 800-575-4632, ext. 1, or visit www.questsoft.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191125005095/en/

CONTACT: Sean McCormick

678-781-7210

sean@williammills.comDavid Jones

678-781-7238

david@williammills.com

KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES DATA MANAGEMENT TECHNOLOGY FINANCE SOFTWARE BANKING

SOURCE: QuestSoft Corporation

Copyright Business Wire 2019.

PUB: 11/25/2019 08:00 AM/DISC: 11/25/2019 08:00 AM

http://www.businesswire.com/news/home/20191125005095/en