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#2119793 - 02/28/17 04:45 PM HMDA software out there.....
Catm1991 Offline
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MO
I have been using the FFEIC DES software for my HMDA, but with the new HMDA we will be looking at getting software and I had a meeting with QuestSoft out of Springfield, MO last week, but my FI is wanting me too check around and see what else is out there for HMDA software.

Can I please get some suggestions on here? I would really appreciate it. Thanks.

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HMDA Academy
#2119818 - 02/28/17 05:52 PM Re: HMDA software out there..... Catm1991
Darth HMDA, CRCM, CAMS Offline
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Darth HMDA, CRCM, CAMS
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We have used Marquis' software CenTrax for a long time and have been very happy with it.
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The opinions expressed are mine, do not represent the opinions of my employer, and they are not to be taken as legal advice.

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#2119821 - 02/28/17 06:00 PM Re: HMDA software out there..... Catm1991
Catm1991 Offline
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Thank you. I'll look it up and check on it.

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#2119822 - 02/28/17 06:01 PM Re: HMDA software out there..... Catm1991
MScarn6942 Offline
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Posts: 756
Land Lacking in Lakes, IL
Just out of curiosity, what did you think of QuestSoft? I'm considering them here.
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#2119830 - 02/28/17 06:06 PM Re: HMDA software out there..... Catm1991
Catm1991 Offline
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MO
We liked it. It will be great also for CRA. The software had sooo much stuff, graphs, reports you can run, everything transaction in it for HMDA uploads and can be used for your CRA information, Fair Lending, and just so much more.

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#2119834 - 02/28/17 06:14 PM Re: HMDA software out there..... Catm1991
hmdagal Offline
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#2119862 - 02/28/17 07:54 PM Re: HMDA software out there..... Catm1991
TNB Offline
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Joined: Mar 2008
Posts: 77
Texas
We have used RATA Associates for years for both HMDA and CRA reporting. They are very service oriented.
http://www.rataassociates.com/

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#2120036 - 03/01/17 04:44 PM Re: HMDA software out there..... Catm1991
Mackenzie Offline
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Joined: Aug 2015
Posts: 1
I use HMDA relief which is a Calyx product. Its pretty good.

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#2120289 - 03/02/17 07:18 PM Re: HMDA software out there..... Catm1991
Catm1991 Offline
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MO
I believe Calyx product has partnered with Quest Soft now.

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#2120334 - 03/02/17 09:50 PM Re: HMDA software out there..... Catm1991
rrush Offline
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Joined: Dec 2011
Posts: 74
Just an FYI - Questsoft is forcing all HMDA Relief and CRA Relief into Compliance Relief beginning January 1, 2018. We got a letter today talking about how wonderful it was going to be but did not mention if the pricing would increase. I have always used HMDA Relief and really liked it - easy to use, good customer service. But we will have to see if the price increases...

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#2120414 - 03/03/17 02:58 PM Re: HMDA software out there..... Catm1991
MarieR Offline
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We've used HMDA and CRA Relief from QuestSoft for years and went ahead and moved over to the Compliance Relief product in January. The pricing was not significantly higher for the Compliance Relief product. And as a bonus you get 2 registrations for KayBee's HMDA Academy which is awesome.
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#2120416 - 03/03/17 03:01 PM Re: HMDA software out there..... MarieR
rrush Offline
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Posts: 74
oh - thanks for the info. It is on my list for today to find out the pricing change

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#2120872 - 03/07/17 06:20 PM Re: HMDA software out there..... Catm1991
Catm1991 Offline
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MO
We were told that Quest Soft would be $3500.00 annually.

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#2120885 - 03/07/17 07:10 PM Re: HMDA software out there..... Catm1991
HallieK Offline
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Oklahoma
We just purchased Quest Soft to do our HMDA and it was less then 1/3 of that. Are they pricing you for everything or just HMDA?

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#2120951 - 03/07/17 10:14 PM Re: HMDA software out there..... Catm1991
Moman Offline
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Posts: 505
WA
I agree with HallieK - we only purchased the base model - without geocoding, since we do our own on the FFIEC website. Cost was below $1K

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#2120955 - 03/07/17 10:21 PM Re: HMDA software out there..... Catm1991
raitchjay Online
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OK
Anyone have a contact number for Quest Soft or the others?
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#2120956 - 03/07/17 10:32 PM Re: HMDA software out there..... Catm1991
HallieK Offline
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HallieK
Joined: Jul 2001
Posts: 369
Oklahoma
sent you a PM

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#2121216 - 03/09/17 02:37 PM Re: HMDA software out there..... Catm1991
Dani York, CRCM Offline
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TN
We demoed Quest Soft and RATA last fall. We ended up going with the RATA Comply Suite. It had more bells and whistles for a comparable price to what QuestSoft quoted us. We will use it for HMDA and Fair Lending analysis. I can't offer much info on using the product as we are just now implementing it.
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#2123185 - 03/22/17 09:14 PM Re: HMDA software out there..... HallieK
Catm1991 Offline
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MO
Everything, but it depends on your asset size

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#2125736 - 04/10/17 08:11 PM Re: HMDA software out there..... Catm1991
Compliance1 Offline
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This may be a dumb question, but what is the purpose of the purchased software? We use Laser Pro as our mortgage processor and create a submission file to the FFIEC. So, couldn't we create the submission file and submit to the HMDA Platform?

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#2125749 - 04/10/17 09:12 PM Re: HMDA software out there..... Catm1991
Darth HMDA, CRCM, CAMS Offline
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Darth HMDA, CRCM, CAMS
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For some of us, we will have multiple different platforms with HMDA data. Having HMDA software allows us to import the HMDA data from one different area into a central repository where we can run edits, do testing, etc. It also provides the ability to do fair lending testing, mapping, peer analysis, etc.

Well worth the $ IMO
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The opinions expressed are mine, do not represent the opinions of my employer, and they are not to be taken as legal advice.

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#2125792 - 04/11/17 02:13 PM Re: HMDA software out there..... Catm1991
RR Becca Offline
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out of the frying pan...
In our case, our platform (LaserPro) is accessible by the entire loan staff, but HMDA verification/submission is a one-person job (mine). That's too many fingers in my pie, especially when there is no control over staff going back in after a loan has been booked and making changes to loans in order to run new requests with the same collateral to the same customer. Having a separate HMDA program with limited access is crucial to getting that data out of platform and into a controlled environment for scrubbing, verification, and submission. Trying to take the submission straight out of the platform would be nothing but a hot mess. For us, anyway. I'm sure other banks have more/better control.
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#2125799 - 04/11/17 02:48 PM Re: HMDA software out there..... Catm1991
raitchjay Online
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OK
As someone who once upon a time tried importing straight from our LOS (LaserPro) into the DES...i can confirm: it IS a hot mess.
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#2126428 - 04/14/17 09:26 PM Re: HMDA software out there..... Catm1991
Moman Offline
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Joined: Jul 2004
Posts: 505
WA
I agree with RR Becca - I have purchased software to hold the data in a manner it cannot be tampered with. Also, the HMDA software is much stronger in that respect than our LOS (same as yours, RR B). The edit checks included are those of the FED and now the CFPB; running those are valuable as loans are imported into the HMDA software - recently caught a loan that way where the app taken date was after the denial date. The LOS did not catch that, where as the edit checks did. In my book, maintaining the register within 30 days of quarter's end includes running those checks so you have as clean of a register as you can; especially if requested by regulators.

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#2126487 - 04/17/17 02:01 PM Re: HMDA software out there..... Catm1991
hmdagal Offline
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Our HMDA software has some of it's own edits as well, which are very helpful, and we can add custom edits. I've also seen LOS updates affect HMDA data in ways that weren't expected. Fields not related to the update have been changed.

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