Compliance, Compliance And More Compliance

*Compliance, Compliance And More Compliance*
**By Tony Garritano**

TonyG***We’re always talking about compliance these days. Let’s face it, if you’re not compliant, you’re dead. So, when I hear about new compliance automation I feel obligated to tell you about it. In this case, QuestSoft has launched 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). Here’s how it works:

****Compliance RELIEF combines 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. Together, these products have been used successfully in over 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:

****>Integrated Mapping

****>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.”

****Compliance RELIEF is designed to operate in any modern Windows platform. It is optimized for ease-of-use and simplicity by utilizing a familiar interface to access the HMDA, CRA, Fair Lending, Geocoding, Mortgage Call Reports and other modules all from one window. While the design and layout have been streamlined and improved, current QuestSoft customers will appreciate the familiarity, while people new to compliance software won’t have any problem navigating the one-stop compliance system.

****“It really is a very easy program to pilot, regardless of someone’s computer skills and comfort level,” Ryan said, noting that an enhanced help section as well as simple product tours and videos will be incorporated. “We’ve been the leader in fast, accurate and easy-to-use compliance software for nearly twenty years, and Compliance RELIEF takes that to the next level.”

Tony Garritano

Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at