QuestSoft has designed an all-in-one mortgage compliance software that is compatible with the most popular loan origination systems.
The QuestSoft Compliance Relief software integrates “the majority of compliance requirements” for lenders, banks and credit unions into their LOS system, executives said.
According to QuestSoft president Leonard Ryan the new software has integrated “in a cohesive manner” tools that manage both the federal and state regulations.
Compliance RELIEF provides compliance information and data sharing from each module, alongside graphics “that allow each user to focus on specific regulations," he said.
It combines several of QuestSoft's software such as for submissions of the Home Mortgage Disclosure Act Relief, and other relief tools that ensure users comply with the Community Reinvestment Act or the NMLS Call Reporting that have been used in over 10,000 audits over the past 17 years.
In addition to simultaneous compliance with five major regulations, new features include integrated mapping and market data for peer benchmark reporting, multiple institution support, more than 40 loan software integrations available at release, automatic integration of multiple vendors with advanced duplicate loan detection, spreadsheet module and graphical user interface for easy data sorting and analysis, as well as geocoding with new audit tools.
Compliance RELIEF features a single interface to access the subscribed modules, which among other benefits, is inclusive of future federal and state level compliance regulations.
The graphics and integrated mapping “make it extremely easy for compliance professionals to explain the successes and concerns of compliance operations to management,” said VP of training and support at QuestSoft, Carey Aimone. The software is designed to operate in any Windows platform and requires minimal user training.
