News & Press
MORTGAGE SOFTWARE FOR ON-DEMAND LOAN ORIGINATION MANAGEMENT
QUESTSOFT AUTOMATES GEOCODING AND HMDA COMPLIANCE FOR VUECENTRIC
Compliance and LOS providers form strategic alliance
LAGUNA HILLS, Calif., May 26, 2005 - QuestSoft, a leading provider of Home Mortgage Disclosure Act (HMDA), Community Reinvestment Act (CRA) compliance solutions and geocoding services, today announced a strategic alliance with Austin, Texas-based VueCentric, a provider of loan origination software (LOS) products including MortgageDashboard. The alliance integrates QuestSoft's instant geocoding and HMDA technology into VueCentric's LOS, combining extensible markup language (XML) technologies of both companies into a Web-based platform for VueCentric customers.
The integration of QuestSoft's Instant Geocoder XML (IG XML) into MortgageDashboard provides real-time address verification and census tract look up capabilities in a .NET Web-based platform hosted by a secure architecture. MortgageDashboard also offers an interface for importing HMDA loans directly into QuestSoft's flagship HMDA RELIEF product. According to QuestSoft officials, HMDA RELIEF analyzes thousands of loans per minute saving lenders 90 percent of the time it typically takes to process HMDA transactions.
"We formed an alliance with QuestSoft to help meet our customers' needs for fully automated software that simplifies the compliance process," said Jorge Sauri, CEO of VueCentric, Inc. "The HMDA and geocoding solutions offered through the partnership will reduce the time and financial resources a lender must dedicate to compliance, while maintaining the highest level of security and enhanced functionality in the industry."
VueCentric customers can also take advantage of automated error correction, federal rate spread calculations and encrypted e-mail submission, while meeting all federal requirements. The interface includes fully integrated multimedia training instruction.
"The partnership between VueCentric and QuestSoft offers solutions that reduce the compliance burden and enable lenders to focus on generating and servicing their loans," said Ryan. "A fully automated and integrated system boosts short and long-term profitability and can provide new opportunities for increasing market share from larger, less flexible competitors."
MortgageDashboard enables the processing of paperless mortgages for lenders, credit unions and banks. It provides loan product optimization, loan application processing, all state-specific forms and disclosures, automated underwriting and closing documents. In addition to conventional loans, the platform supports subprime automated underwriting as a Web service.
About VueCentric Inc.
VueCentric, Inc. offers an easy-to-use, Web-based application for the mortgage industry called MortgageDashboard that is supported by the firm's WebOrchestra platform. WebOrchestra offers a flexible, easy-to-use, real-time, secure and high-performance solution for the mortgage industry. With straight-through processing capabilities, the platform offers an end-to-end e-mortgage solution providing loan origination and fulfillment processes online, thereby reducing delays and inefficiencies in the mortgage industry.
About QuestSoft
Laguna Hills, Calif.-based QuestSoft is a compliance software development firm specializing in the Home Mortgage Disclosure Act (HMDA), Community Reinvestment Act (CRA), flood determination and other settlement services to more than 1,300 banks, credit unions and mortgage companies nationwide. The company provides software design, compliance-quality geocoding and outsourcing services that are backed by 16 years of direct mortgage software and origination experience. For more information about QuestSoft and its products, visit the company's Web site at www.questsoft.com.
“ The future of the LOS is OnDemand software as a service, customizable to the needs of the originator and the investor. MortgageDashboard has been living in this future for a long time. ” Rick Grant,
Rick Grant & Associates