LAGUNA HILLS, Calif — (BUSINESS WIRE) — QuestSoft, the nation’s leading provider of automated mortgage compliance software, now offers its end-to-end mortgage compliance platform to lenders using LendingQB’s cloud-based loan origination software (LOS). The integration helps lenders to automate comprehensive mortgage compliance reviews by testing loans for HMDA, High Cost, All Federal/State/Local consumer regulations, as well as fraud and risk services prior to a loan’s closing.
With QuestSoft’s Compliance EAGLE’s proactive loan compliance tools and capabilities, lenders using LendingQB can save time and avoid costly penalties by testing every loan for full adherence to national, state and investor rules and regulations both pre- and post-closing. LendingQB has added all of Compliance EAGLE’s services in an “a la carte” menu, providing lenders a full array of compliance checks. Now, LendingQB clients can select from more than a dozen different services to order only the ones they need.
“Partnering with QuestSoft provides our lenders the highest quality loan reviews in an intuitive, flexible interface that takes the complexity out of compliance,” said David Colwell, president of LendingQB. “Working seamlessly within our web-based LOS, lenders can conduct Mavent reviews, conduct instant HMDA reviews, evaluate loans for fraud and risk while also testing for RESPA fee tolerances, verifying borrower information and ensuring compliance for settlement services.”
Compliance EAGLE automates the entire mortgage lending compliance process through a single platform, delivering increased speed, data integrity, and reporting capabilities. Additionally, as new regulatory guidelines are introduced to the mortgage industry, Compliance EAGLE automatically applies updates to maintain optimal compliance procedures.
LendingQB’s web browser platform provides mortgage lenders with core LOS capabilities using modern web-optimized technology, enabling robust integrations to other web platforms such as QuestSoft
“The mortgage industry’s constantly evolving regulatory environment makes automated compliance essential for reducing risk and ensuring a high-quality loan portfolio,” said Leonard Ryan, president of QuestSoft. “Our strong relationship with LendingQB has been very beneficial to their customers and LendingQB’s expanded integration with Compliance EAGLE provides lenders a trusted tool for ensuring full compliance with the latest regulatory updates, applicable laws and secondary market guidelines.”
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.
LendingQB is a provider of an innovative web-based loan origination system (LOS) and continues to extend market-leading integrations that provide lenders a flexible, innovative workflow. The LOS’ open-architecture application program interface (API) enables lenders to select the tools that best help their efficiency. The LOS was cited in the STRATMOR Group’s December 2016 Technology Insights report as achieving an end user effectiveness rating of 93%, top marks amongst the major LOS providers. For more info, visit lendingqb.com.