QuestSoft has introduced Compliance RELIEF, an all-in-one system designed to help banks, credit unions and mortgage lenders meet compliance requirements with less time and effort.
The system, which can be integrated with all of the popular loan origination systems (LOS), bundles QuestSoft's 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.
‘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 Leonard Ryan, president of QuestSoft, in a release. ‘No company has put together tools to manage both the federal and state regulations in such a cohesive manner.’
In addition to simultaneous compliance with five major regulations (HMDA, CRA, Fair Lending, NMLS Mortgage Call Report, SC Mortgage Log System), new features include integrated mapping, integrated market data for peer benchmark reporting and a ‘highly graphical’ report design with expanded export and print options. The system also sports a new "what-if" assessment area design tool.
QuestSoft claims the Windows-based system can be integrated with more than 40 loan software solutions and conforms to data integrity standards. In addition, it is designed to accommodate future compliance regulations at the federal and state level.
‘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.’