QuestSoft, a provider of automated mortgage compliance software, has announced a new all-in-one product, Compliance RELIEF, that assists banks, credit unions and mortgage lenders in processing the majority of their compliance requirements in one convenient system that’s integrated with all popular Loan Origination Systems (LOS). Compliance RELIEF combines QuestSoft's best-selling HMDA RELIEF software (for submissions of the Home Mortgage Disclosure Act), CRA RELIEF (for the Community Reinvestment Act) and other supported regulations including NMLS Call Reporting. Together, these products have been used in more than 10,000 audits over the past 17 years.
"Compliance RELIEF has been designed to provide a wealth of compliance information with stunning graphics that allow each user to focus on specific regulations with data sharing from each module," said QuestSoft president Leonard Ryan. "No company has put together tools to manage both the federal and state regulations in such a cohesive manner."
New features in the suite include:
►Simultaneous Compliance with Five Major Regulations (HMDA, CRA, Fair Lending, NMLS Mortgage Call Report, SC Mortgage Log System)
►Multiple Institution Support
►Integrated Market Data for Peer Benchmark reporting
►More than 40 loan software integrations available at release
►Automatic integration of multiple vendors with advanced duplicate loan detection
►Highly Graphical Report Design with Expanded Export and Print Options
►“What-if” Assessment Area Design Tool
►Spreadsheet Mode–Graphical User Interface for easy data sorting and analysis
►Integrated Geocoding with new audit tools to provide additional support to regulators
Compliance RELIEF features a single interface that accesses the subscribed modules. This approach lessens the training burden and establishes uniform data integrity standards. It also allows the program to easily accommodate future compliance regulations at the federal and state level. The enhanced report graphics and integrated mapping make it extremely easy for compliance professionals to explain the successes and concerns of compliance operations to management.
"Many companies use multiple software vendors to solve different problems within the compliance workflow," said Carey Aimone, vice president of training and support at QuestSoft. "Compliance RELIEF combines all of the required business intelligence to establish an audit-strong system of record."