As part of the partnership, QuestSoft will package components of its HMDA Relief, Compliance Eagle and Compliance Relief regulatory solutions under the special Calyx label—Calyx Verifyde—to replace Calyx’s current regulatory reporting options.
The purpose of this partnership is to ensure that Calyx’s Point and Path customers consistently adhere to the range of federal and state reporting regulations. Regulations initially supported by the software include the Home Mortgage Disclosure Act, all Dodd-Frank changes set to take effect in January, HMDA Plus requirements of the Office of the Comptroller of the Currency, NMLS Mortgage Call Report, California Form RE 881 for mortgage brokers, North Carolina Mortgage Lending Act data uploads, South Carolina Mortgage Log System and the Nevada monthly activity report.
“Our new relationship with QuestSoft allows Calyx to significantly expand the automation in our compliance offerings and concentrate our resources on more productivity enhancements,” said Dennis Boggs, executive vice president of business development of Calyx Software.
Calyx customers will be given a special set of error checks QuestSoft has developed along with uploads of the RegulatorConnect Licensee Examination File required by the Conference of State Bank Supervisors for their exams.
Furthermore, the provider of automated mortgage lending compliance software based in Laguna Hills, Calif., will offer training, programming and customer assistance to help Calyx’s customer support operations unit in Dallas. Also, the company will provide direct assistance to Calyx customers for Community Reinvestment Act and Fair Lending services.
According to Leonard Ryan, president of QuestSoft, Calyx will start to provide the compliance products to its customers for the 2013 yearend reports.
“This opportunity is a solid victory for both Calyx and their customers given the complexities of today’s regulatory environment and our focus in this segment,” Ryan added. “The products we are including in this partnership have successfully been used in more than 10,000 audits over the past 18 years.”