QuestSoft Corp., which makes mortgage compliance software, has been acquired by Ncontracts, which provides integrated risk management and compliance software to banks, credit unions, mortgage lenders and fintechs, for an undisclosed sum.
“This is a tremendous combination for our customers,” says Michael Berman, CEO of Ncontracts, in a release. “Together, Ncontracts and QuestSoft will help financial institutions and mortgage companies not only meet the increasing needs and complexities of today’s regulatory environment but prepare them for the future. The combination of our teams and solutions creates tremendous value to our clients and the financial services industry.”
With the acquisition, Ncontracts will now offer the most comprehensive set of capabilities to assess and monitor risk and compliance for financial services companies, which includes banks, credit unions, mortgage companies and fintechs, to make sure that information needed for compliance and risk management is securely and seamlessly shared across the entire organization.
“We’re extremely excited to bring our company together with an industry leader like Ncontracts,” says Leonard Ryan, founder and president of QuestSoft Corp. “Our software and products have helped thousands of financial institutions and mortgage companies deal with regulatory requirements from HMDA, CRA, and Fair Lending regulations to automated digital compliance and other needed regulatory requirements. Bringing our capabilities and insights together with the leadership and reach of a company like Ncontracts is great news for our 2,700 customers around the country and the industry at large.”