1 minute readCompliance software and service provider QuestSoft integrated its compliance platform with ProLender‘s loan management system for small- to mid-sized mortgage lenders. The access to compliance services ensures client lenders put resources toward the most legally sound mortgages possible. The partnership provides ProLender’s mortgage lending clients with multiple pre- and post-closing compliance reviews through QuestSoft’s platform. The partnership should shorten turnaround time and delays related to non-compliance issues, as well as reduce errors associated with manual data entry. The system enables lenders to reduce the potential for buybacks by ensuring mortgages are made within regulatory standards. “In this regulatory environment, lenders need to be able to trust in the fact that they are being provided with the most complete and accurate information available,” said QuestSoft founder Leonard Ryan. The company’s compliance platform evaluates a file against a suite of compliance regulations and standards including the Home Mortgage Disclosure Act (HMDA), Community Reinvestment Act (CRA), as well as the Truth in Lending Act (TILA), federal, state and local consumer and predatory lending laws. Write to Diana Golobay.
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
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Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
