Sarbanes Oxley Compliance Journal on Ulitzer

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Sarbanes Oxley Authors: David Sprott, Lori MacVittie, Jim Kaskade, Gilad Parann-Nissany, PR.com Newswire

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QuestSoft’s LEF Export Functionality Recertified through RegulatorConnect®

QuestSoft, a provider of mortgage compliance software, received recertification of its Licensee Examination File™ (LEF) export functionality for use in state exam submissions through the RegulatorConnect platform. The export is performed through QuestSoft's Compliance EAGLE automated compliance software, which is integrated with many of the industry’s most popular loan origination and document systems.

Compliance EAGLE enables lenders to filter the various examiner menu of requests (states, date ranges and file types) from a single screen. It then automatically compiles the records into the required encrypted file for easy upload into the lender’s RegulatorConnect account. The process can be completed in seconds for lenders maintaining records within the Compliance EAGLE platform. Records can be tested individually or in batch for potential issues before submission. Compliance EAGLE also offers the Mavent® test that checks the loan file for compliance with all federal, state and local laws and regulations.

“QuestSoft is one of the few companies to receive recertification under the demanding process established by ComplianceEase®,” said Leonard Ryan, president of QuestSoft. “Recertification usually takes several months and involves testing a wide variety of loan types and amortizations. The LEF certification demonstrates to our customers that they can easily comply with state-level examination requirements.”

The LEF was created to assist state examiners in quickly analyzing lenders for violations of various state consumer-lending laws, thus reducing examination cost and completion times. Its use is expected to significantly expand in 2012.

In its certification letter to QuestSoft, the company wrote: “ComplianceEase has reviewed the information and materials provided by QuestSoft Corporation and determined that QuestSoft Corporation has maintained acceptable LEF Export Functionality and, at the time the review was performed, data export through the functionality was operating in accordance with applicable required standards.”

The certification is valid through December 2012.

Note: RegulatorConnect, ComplianceEase and Licensee Examination File are trademarks of LogicEase Solutions, Inc.

Mavent is a registered trademark of Ellie Mae, Inc.

Compliance EAGLE is a registered trademark of QuestSoft Corporation.

About QuestSoft

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 1,500 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.

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