AP NEWS

QuestSoft Adds Assessment Area Analysis to Compliance RELIEF

August 2, 2018

LAGUNA HILLS, Calif.--(BUSINESS WIRE)--Aug 2, 2018--QuestSoft, the nation’s leading provider of automated mortgage compliance software, upgraded its Compliance RELIEF software to include an industry-first module for enhanced assessment area analysis. The Assessment Area Optimizer helps bankers review their current Community Reinvestment Act (CRA) delineated assessment area and interactively identify potential gaps in or additions to their assessment area.

Available as a new add-on to QuestSoft’s Compliance RELIEF platform, Assessment Area Optimizer can be accessed from within QuestSoft’s Instant Mapping system to provide a detailed overview and analysis of current assessment areas versus potential assessment areas. In addition to providing details on existing geographic configurations, the system allows for “What If” scenarios to help bankers easily forecast the impact of changes to their assessment area(s) on CRA compliance, including competition comparison.

“Having an accurate and optimal assessment area is critical to helping financial institutions ensure compliance with CRA and identify potential risks associated with redlining,” said Leonard Ryan, Founder and President of QuestSoft. “Our new Assessment Area Optimizer not only provides a snapshot of current assessment areas, but it helps lenders forecast how changes would impact their business and helps them gain valuable insights into meeting the credit needs of the markets they serve.”

Compliance RELIEF provides lenders with one powerful tool to manage HMDA, CRA, NMLS Call Reports, and other state reporting. Integrated into the leading loan origination software systems in the industry, Compliance RELIEF simplifies the process of collecting, testing, analyzing and submitting loan compliance data. Powerful mapping tools also enable lenders to have the most accurate geocoding and assessment area analysis tools.

About QuestSoft®

Laguna Hills, Calif.-based QuestSoft is a leading provider of comprehensive compliance software and services for the mortgage, banking 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 LOS 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 8 million error-free transactions to regulators in 2017. 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/20180802005051/en/

CONTACT: For QuestSoft

Stephen Sprayberry, 678-781-7207

stephen@williammills.com

or

David Jones, 678-781-7238

djones@williammills.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE PROFESSIONAL SERVICES BANKING FINANCE CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE

SOURCE: QuestSoft

Copyright Business Wire 2018.

PUB: 08/02/2018 08:30 AM/DISC: 08/02/2018 08:30 AM

http://www.businesswire.com/news/home/20180802005051/en

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