QuestSoft Partners With The HMDA Academy

November 9, 2016
QuestSoft has partnered with Key Compliance Services, creators of The HMDA Academy, to provide their Compliance RELIEF customers with a complete suite of informational and multimedia tools that complement their robust and industry leading platform

QuestSoft has partnered with Key Compliance Services, creators of The HMDA Academy, to provide their Compliance RELIEF customers with a complete suite of informational and multimedia tools that complement their robust and industry leading platform.

The addition of The HMDA Academy knowledge base provides QuestSoft’s Compliance RELIEF HMDA customers access to up to the minute training and consulting on the new CFPB HMDA rules which will begin to be implemented in 2017, culminating in 2018. These changes represent the most sweeping revisions to the Home Mortgage Disclosure Act (HMDA) since its inception in 1975. Training is provided to users via webinars, all of which are recorded and available for unlimited viewing. In addition, Compliance RELIEF HMDA customers will gain access to a wide variety of job aids, charts, and other tools to tackle the complexities of the HMDA modifications.

“The CFPB HMDA rules dictate that data integrity, staff training and accountability, as well as detailed procedures, be at the forefront as we approach 2018,” said Leonard Ryan, president of QuestSoft. “Through the combination of Compliance RELIEF’s automated error correction routines and QuestSoft’s robust industry integrations, The HMDA Academy adds critical informational infrastructure as our customers prepare for their HMDA challenges. The HMDA Academy enriches the customer experience by emphasizing an ardent understanding of the new regulation, while focusing on best practices for maintaining a solid data testing and submission process moving forward.”

The agreement will provide eligible QuestSoft customers with complimentary access to these resources through March, 2019 to help ensure that their initial submission under the new rules is completely compliant with the CFPB intent and ruling.

“We designed The HMDA Academy as a port in the storm of ever expanding changes to HMDA,” said Kathleen Blanchard, president of Key Compliance Services. “The synergies of The HMDA Academy and Compliance RELIEF allow for a full functioning automated compliance system, the likes of which our industry has never seen.”

Originations