LAGUNA HILLS, Calif.--(EON: Enhanced Online News)--QuestSoft®, a major provider of automated mortgage lending compliance software, has announced it has entered into an agreement with Calyx Software® to provide QuestSoft’s line of compliance products to Calyx’s industry leading customer base of banks, credit unions, mortgage bankers and brokers.
“We have a long and trusted association of helping Calyx customers dating back nearly two decades”
Under the agreement, QuestSoft will package components of its HMDA RELIEF®, Compliance EAGLE® and the recently announced Compliance RELIEF™ line of regulatory products under the special Calyx label—Calyx Verifyde to replace Calyx current regulatory reporting options. QuestSoft will enhance the products on behalf of Calyx to ensure their Point® and Path™ customers consistently adhere to the vast array of federal and state reporting regulations. QuestSoft will also provide training, programming and customer assistance as needed to directly benefit Calyx’s customer support operations in Dallas.
Regulations initially supported include the Home Mortgage Disclosure Act (HMDA) along with all Dodd Frank changes set to be announced shortly, HMDA Plus requirements of the Office of the Comptroller of the Currency, NMLS Mortgage Call Report, California Form RE 881 for mortgage brokers, North Carolina Mortgage Lending Act data uploads, South Carolina Mortgage Log System, Nevada Monthly Activity Report and other state regulatory reporting as needed. QuestSoft will also provide direct assistance to Calyx customers for Community Reinvestment Act (CRA) and Fair Lending services.
In addition, QuestSoft will be providing Calyx customers with a special set of error checks it has developed along with uploads of the RegulatorConnect™ Licensee Examination File™ required by the Conference of State Bank Supervisors (CSBS) for multi-state exams, and by some individual states for their exams.
"Our new relationship with QuestSoft allows Calyx to significantly expand the automation in our compliance offerings and concentrate our resources on more productivity enhancements,” said Dennis Boggs, executive vice president, business development of Calyx Software. “We also now have an additional team of expert resources to rely on that is very hands-on in assisting our lenders with their compliance questions and concerns."
According to a 2010 study conducted by Access Mortgage Research & Consulting, 72.5 percent of mortgage brokers reported using Calyx Point as their preferred loan origination platform. A market leader for mortgage lenders as well, Calyx supports 36 percent of community banks, credit unions, and mortgage bankers with Point and PointCentral products. Added to QuestSoft’s existing client base, this new relationship will make QuestSoft mortgage compliance products used by more companies than all other private providers combined.
“We have a long and trusted association of helping Calyx customers dating back nearly two decades,” said Leonard Ryan, president of QuestSoft. “This opportunity is a solid victory for both Calyx and their customers given the complexities of today’s regulatory environment and our focus in this segment. The products we are including have successfully been used in more than 10,000 audits over the past 18 years.”
Ryan indicated that Calyx is expecting QuestSoft to begin providing compliance to its customers for the 2013 year end reports required to be submitted in the first quarter of next year. Calyx plans to separately announce the availability of its new compliance lineup to its customers and the industry within the coming weeks.
Laguna Hills, Calif.-based QuestSoft is an established provider of comprehensive and automated compliance software and services to the mortgage, banking and credit union industries. The company’s products enable more than 1,700 banks, credit unions and mortgage companies to simplify the collection, analysis, compilation and reporting of key lending regulatory report data. For more information about QuestSoft and its products, visit the company's website at www.questsoft.com.
About Calyx Software
Calyx Software is the #1 provider of affordable mortgage solutions for banks, credit unions, mortgage bankers and brokers. Beginning with customizable websites that offer online mortgage applications with eDisclosures and document request/retrieval, Calyx offers products that enable smooth bi-directional flow of data from start to finish. Our solid yet flexible LOS delivers smart technology with electronic document management, back-end functionality such as underwriting and secondary marketing, strong security, remote access and a configurable business rules engine needed for workflow and compliance. Convenient interfaces with more than 200 vendors providing PPE, closing documents, compliance services and more make end-to-end processing and reporting simple and accurate. Lenders can take advantage of Calyx’s fully integrated automated underwriting and pricing products that determine loan eligibility and pricing against investor or FHA guidelines. Complimentary support and online training are included with all Calyx products. For more information, call (800) 362-2599 or visit www.calyxsoftware.com
Note: Compliance EAGLE and QuestSoft are registered trademarks of QuestSoft Corporation. Calyx Software and Calyx Point are registered trademarks of Calyx Software. RegulatorConnect and Licensee Examination File are trademarks of LogicEase Solutions, Inc.