History & Experience
QuestSoft was established in 1995 and has had consistent ownership since its inception. HMDA RELIEF, the company's first general use product, was introduced the next year. The company is a California based Corporation and its officers have the following experience:
Over 20 years of experience in the design of software exclusively for the mortgage industry
10 years of providing compliance-quality geocoding services.
8 years of direct origination, funding and mortgage banking experience
16 years of direct compliance risk management assistance to institutions large and small
Our mission is to provide technically superior products at reasonable costs to our customers. We achieve this by automating everything possible in our products and operations, working with interface partners-- other software developers-- to make their applications more efficient.
QuestSoft's Development Mission
QuestSoft's product specialty is threefold:
Development of unique compliance products to supplement today's popular loan origination systems.
Development, maintenance and marketing of Census-based geocoding products.
Data analysis services to assist our customers in determining markets for their products and services.
Product Quality & Innovations
Compliance EAGLE, is unique in that it automates the entire mortgage lending compliance process in a single system. The system's complete integration with popular LOS systems significantly reduces delays associated with integrating the platform and minimizes upfront installation costs. Compliance EAGLE uses proprietary rule sets to identify regulatory exceptions.
HMDA RELIEF, our flagship product, saves companies 90% or more of their time over standard industry offerings. As a result, we have been able to establish relationships with over 40 loan origination software vendors who currently recommend our products to their customers. We were the first to market totally integrated email. To date, is the only product that can submit a fully encrypted file to a regulator in a single step.
CRA RELIEF, introduced in late 2003, has become one of the hottest offerings in the history of the company selling to 70 banks in its first four months of release. Banks have commented about the ease of use and elimination of the technical challenges and training costs that often plague other more expensive software products. The product also integrates with HMDA RELIEF and the government sanctioned HMDA.DAT format.
Instant Geocoder has proven, in test after test, to produce more accurate results than either the Federal Reserve web site or competitor companies charging four to eight times our price. These products also compute census tracts in a highly automated fashion while-- through innovative programming-- taking one-fifth of the disk resources of our competition, to supply the same results.
Our Flood Certifications are completely web based and integrate with many LOS software programs. In the over 15 year history that our partner has been providing these services, there has NEVER been a claim filed for a false certificate. In addition, these services carry a proven 99.996% accuracy rating with over 90% of all orders being processed automatically in seconds, again an industry leading fact about our quality services.Year after year, the integrity of our products is proven. Since our debut, over eight million uncontested records have been submitted to banking regulators. This dedication to quality has made QuestSoft a regular advisory contact of the Federal Reserve Board, when considering changes to regulations over technological issues.
QuestSoft products are currently used to code almost a third of all records submitted to regulatory agencies. Today HMDA RELIEF is used by over 1,600 banks, credit unions and mortgage lenders representing all parts of the United States and Puerto Rico. The product has been used to submit over 7,000 Home Mortgage Disclosure Act reports, and its use to produce a HMDA LAR report is growing steadily, adding almost 300 clients in Year 2003 alone.
Instant Geocoder is the fastest-selling geocoding product in the lending industry. This geocoding powerhouse is currently experiencing triple digit growth at a time when other vendors' market share is contracting. And, to continue this growth, there are specialized geocoder products just now moving out of successful market tests and into production.
Investments in our Customers
QuestSoft maintains the best reputation for quality customer service in the industry. Training and support on all QuestSoft products is always provided free of charge. We don't see a compelling reason why anyone would charge their customers for the inability to efficiently use a product. This singular commitment to customer service has resulted in a customer retention rate that is considerably higher than any other company involved in lending compliance services. We consider support to be an investment in our customers.
We invest further in our customers through our free publication, Compliance Times Online. CTO is devoted to the issues and politics around the regulations that affect lending Compliance. QuestSoft also contributes maintenance to a free, informational web site for the lending industry, at www.HMDA.net. Both of these venues are intentionally focused on information rather than selling, in an effort to raise the general knowledge of the industry as a whole. We think you'll approve of our efforts to serve you.