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Laguna Hills, California-based QuestSoft is striving to give lenders peace of mind in the midst of an ongoing compliance blizzard.
The clock was ticking. * As Fernandina Beach, Florida-based CBC National Bank ($400 million in assets) prepared for an annual regulatory exam, Kay Basnight, the vice president of compliance and risk management, struggled with the best way to report fair lending data. * As she checked the requirements for the Home Mortgage Disclosure Act (HMDA) portion of the exam, she realized that she needed more robust reporting to both satisfy the examiner's needs and to better understand the bank's lending and risk position. * However, time was an issue - the exam was just a couple of weeks away. * Complicating the situation was CBC National Bank's geographic footprint. Though based in Florida, the bank also has a wholesale mortgage division in Atlanta and 65 percent of the bank's mortgage lending was conducted in the Atlanta metropolitan area. * Basnight needed to show examiners how her bank's loans were performing compared with other Atlanta-area banks. * CBC turned to QuestSoft Corporation, a Laguna Hills, California-based software company that offers automated compliance solutions for overall mortgage compliance tests, HMDA reporting and Community Reinvestment Act (CRA) reporting.
"Due to only having a couple of weeks to prepare, QuestSoft quickly added me to their training calendar, and I was able to launch the software, train and begin running reports in just a couple of days," Basnight says.
This type of dedication to service and easy-to-use, comprehensive compliance software has helped make QuestSoft one of the leading mortgage compliance companies in the industry.
"Dealing with compliance can feel like facing a neverending storm," says Leonard Ryan, president and founder of QuestSoft. "Since 1995, we have built QuestSoft to be a shelter from the storm by focusing on providing understandable compliance tools with the best service possible."
Building a foundation on service and usability
From the beginning, QuestSoft built customer support and usability into the DNA of the company. That first year, 1995, the company purposely limited its roster to five customers because it wanted to make sure the software was accurate before taking it to market.
To Ryan, reputation and character have always been key components to...