Press Releases
QuestSoft Adds LoanScoreCard to Provide QM Solution
Qualified Mortgage Findings Report Available Immediately Through QuestSoft's Compliance EAGLE
Irvine, Calif. (October 16, 2013) — LoanScoreCard®, provider of automated underwriting engines and compliance solutions, has partnered with QuestSoft® to expand availability of its Qualified Mortgage (QM) Findings Report through integration with Compliance EAGLE®. The QM solution saves time for both lenders and investors who no longer have to spend valuable resources on non-qualified loans.
LoanScoreCard's QM solution offers quantifiable Findings Reports that determine whether a file is considered a Qualified Mortgage with a secondary determination for either Safe Harbor or Rebuttable Presumption. These detailed analyses may be run several times throughout the loan process so that compliance is assured at each stage and evidence of compliance is maintained.
The partnership with QuestSoft makes LoanScoreCard's QM solution accessible via Compliance EAGLE to more than 900 additional lenders, representing more than 600,000 mortgage transactions. Compliance EAGLE is an end-to-end, fully automated compliance review solution that integrates with leading loan origination systems. The QM solution is already available directly through Calyx Software®'s Point® product.
"LoanScoreCard's QM solution was the first to market in the industry and has been well received by our customers," said Leonard Ryan, president of QuestSoft. "This integration lends itself perfectly to our "Compliance Without Complexity" philosophy, and we are excited to be partnered with a strong company that shares our commitment to provide accurate, quality services to our mutual customers."
"Recognizing the need for a QM solution and making it available to the industry before it's required was very important for us," said Allen Meigide, director of operations at LoanScoreCard. "Combining our technology with QuestSoft solidifies our commitment to lead in underwriting and compliance, and allows for expanded reach."
To schedule a free demonstration of this revolutionary QM solution, contact us today!.