Software reduces research time for real estate loan compliance
January 4, 2005
QuestSoft releases Instant Geocoder
QuestSoft, a provider of Home Mortgage Disclosure Act and Community Reinvestment Act compliance solutions and geocoding services for lenders, announced the release of the latest version of the company's Instant Geocoder software system, which uses the up-to-date census tract demographic information to help lenders and brokers determine a potential loan's compliance value and marketability before issuing a loan quote.
Instant Geocoder 1.8 includes the most recent postal and census data along with new search and cross-reference features, and aims to reduce the amount of time spent researching loans for compliance. The geocoding software enables users to cross reference cities with corresponding ZIP codes even in the event of a misspelling or incorrect ZIP code entry.
The software enables users to view alternative addresses instantly when inaccurate data has been entered. Instant Geocoder is available in both Windows and XML-based versions and uses the same data set for both products. The software is currently integrated into more than 28 mortgage and commercial loan origination and servicing software products, more than three times the number of mortgage systems of any competitor.
QuestSoft has also enhanced the census demographic data available with the version, offering additional information regarding median income and all housing, demographic and income information contained on the federal regulators' Web site. These fields enable users to identify emerging market opportunities and measure the success of direct and targeted marketing efforts in seconds.
Laguna Hills, Calif.-based QuestSoft is a compliance software development firm specializing in the Home Mortgage Disclosure Act, Community Reinvestment Act, flood determination and other settlement services to more than 1,200 banks, credit unions and mortgage companies nationwide.
Copyright 2005 Inman News