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QuestSoft: Compliance Without Complexity
QuestSoft: Compliance Without Complexity

QuestSoft's posts

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Yes, QuestSoft is currently integrating the ‪#‎MISMO‬ toolkit into our 2018 ‪#‎HMDA‬ specs.

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The new ‪#‎CFPB‬ proposed ‪#‎TRID‬ amendments include clarifications on various issues that the bureau said it has provided in informal guidance. The agency has proposed additional tolerance provisions, clarified a partial exemption for housing finance agencies, extended the rule's coverage to all cooperative units, and provided more clarity about privacy and the sharing of information.

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Kind of an unrealistic headline, but Happy Birthday ‪#‎CFPB‬. :)

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QuestSoft president Leonard Ryan' recently stated that the new ‪#‎HMDA‬ data will be a "Lawyer's Paradise" and it reminded us of a song from 1995. (All apologies to ‪#‎Coolio‬).

As I walk through the valley of the ‪#‎CFPB‬,
I take a look at my loans and I start to scream.
'Cause I've been trying so hard to keep up with these regs.,
That even my bank president thinks the system is rigged.
But I ain't never made a loan that’s not in compliance,
I’m a banker, I am fair, I’m not into defiance.
You better watch these rules and have some respect,
For the job that we do so we don’t get checked.
I really hate to trip but I just gotta say,
That some of these regs. are really ruinin' my day!
I'm the kinda B the little homies wanna be like,
On my knees in the night hoping the CFPB will get it right.

Congratulations Leonard on being named MortgageOrb's Person of the Week!

Original Gangsta's Paradise lyrics:
As I walk through the valley of the shadow of death
I take a look at my life and realize there's nothin' left
'Cause I've been blasting and laughing so long,
That even my mama thinks that my mind is gone
But I ain't never crossed a man that didn't deserve it
Me be treated like a punk you know that's unheard of
You better watch how you're talking and where you're walking
Or you and your homies might be lined in chalk
I really hate to trip but I gotta loc
As they croak, I see myself in the pistol smoke, fool
I'm the kinda G the little homies wanna be like
On my knees in the night saying prayers in the streetlight

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As stated in our webinar last month, QuestSoft will be ready for all of the ‪HMDA‬ changes well in advance of 2018.

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"Following, are some things that ALL ‪#‎bankers‬ need to be aware of to prevent similar headlines.
Hopefully we learn from our own mistakes, and if we're smart, we'll also learn from the mistakes of others (it's easier on the wallet and reputation)." - Len Suzio - GeoDataVision/QuestSoft

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Let's hope the ‪#‎CFPB‬ doesn't do what they did with ‪#‎TRID‬ regarding the new ‪#‎HMDA‬. ‪#‎TooLittleTooLate‬

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