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#2130812 - 05/17/17 06:01 PM Re: HMDA software out there..... Catm1991
raitchjay Online
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Trying to dip my toe into my new Questsoft software.....and i'm having trouble at the moment watching any training videos (the sound is severely echoed and impossible to listen to).....how do you verify your quality edits? Thanks in advance.
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#2130837 - 05/17/17 08:19 PM Re: HMDA software out there..... raitchjay
La. Lady Offline
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Joined: May 2016
Posts: 31
If I understand you correctly......

We actually go through each loan that has a quality edit on it....click "verified" at the top of the LAR.

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#2130839 - 05/17/17 08:23 PM Re: HMDA software out there..... Catm1991
raitchjay Online
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Sorry..i should have been more clear...i'm wondering what you are supposed to do IN Questsoft to show it that you have verified your quality edits...it seems to want you to do that, but i can't figure out how/where/what it wants you to do.
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#2130840 - 05/17/17 08:23 PM Re: HMDA software out there..... Catm1991
La. Lady Offline
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Posts: 31
We have QuestSoft....I'm not wild about it.....But I'm coming back into HMDA after 16 years....so I'm really not much help....I

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#2130865 - 05/17/17 10:03 PM Re: HMDA software out there..... raitchjay
rrush Offline
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Joined: Dec 2011
Posts: 74
You check the box in that particular record top right - it says something about Quality error verified.

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#2130895 - 05/18/17 01:36 PM Re: HMDA software out there..... Catm1991
raitchjay Online
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Ahhhhh....i see it now. Thanks rrush.
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#2133946 - 06/12/17 05:18 PM Re: HMDA software out there..... Catm1991
KLL1234 Offline
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Joined: Oct 2012
Posts: 2
Has anyone used Wolter Kluwers CRA/CRA Wiz?

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#2133949 - 06/12/17 05:22 PM Re: HMDA software out there..... Catm1991
RR Joker Offline
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Yes. Well, HMDAWiz... smile
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#2133971 - 06/12/17 06:45 PM Re: HMDA software out there..... Catm1991
Norman Paperman Offline
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I'm going to ask a likely dense question. Why the need for HMDA software? I run my scrubs directly in the LOS and then import the file into the FFIEC (soon to be CFPB) software at year end...

Will my life get easier if I have secondary software?
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#2133974 - 06/12/17 07:13 PM Re: HMDA software out there..... Catm1991
WIBanker91 Offline
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We found we were not able to obtain the correct format form our loan origination software that we could load into the CFPB tool to properly format it. We were only able to get a .dat file which was not easily compatible. With the new format it will also be more difficult to review the final data for other purposes.

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#2134006 - 06/12/17 09:26 PM Re: HMDA software out there..... Catm1991
CompliantOkie Offline
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Norm-
I believe you guys use LaserPro, as do we. We will not be purchasing the HMDA reporting module. LP is allegedly working on an export tool to send the HMDA data directly to Excel so it's easily transferrable to the Bureau's reporting tool/format. Our LAR is of a size that is manageable doing this. If our LAR was larger, we would probably consider some sort of HMDA data software for analysis and reporting.

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#2134047 - 06/13/17 12:40 PM Re: HMDA software out there..... Catm1991
RR Joker Offline
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HMDAWiz is the HMDA interface for C-1 Lending and Mortgage LOS.
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#2134280 - 06/14/17 03:11 PM Re: HMDA software out there..... CompliantOkie
Norman Paperman Offline
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Originally Posted By CompliantOkie
Norm-
I believe you guys use LaserPro, as do we. We will not be purchasing the HMDA reporting module. LP is allegedly working on an export tool to send the HMDA data directly to Excel so it's easily transferrable to the Bureau's reporting tool/format. Our LAR is of a size that is manageable doing this. If our LAR was larger, we would probably consider some sort of HMDA data software for analysis and reporting.


We do use LP. I've always been able to navigate the LAR with ease on LP. I reformat the .DAT file and put it into Excel during my quarterly and annual scrub.
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#2144949 - 09/06/17 02:50 PM Re: HMDA software out there..... Catm1991
MBrownie Offline
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Hello all, reviving this thread! Any advice is incredibly appreciated. Our bank has also (previously) taken the LOS LAR and imported into the FFIEC software and made our edits there. I know the CFPB software will be different, and hopefully will be out soon! We have LP and Calyx currently, but are moving to Mortgagebot on October 1st, getting rid of Calyx.

I've been told by our contact with Mortgagebot that we will HAVE to use a third party piece of software, such as QuestSoft. So, does Mortgagebot not have the ability to export a LAR? Any experience out there?

Trying to determine what to do for 2018....Thanks in advance. I used to love HMDA....not so much right now.

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#2144950 - 09/06/17 02:54 PM Re: HMDA software out there..... Catm1991
raitchjay Online
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I'm a very new user when it comes to QuestSoft (probably about 3 months now).....i probably don't know all the bells and whistles yet, but i was able to actually use it very quickly, which is a very good thing in my book. I'm glad i made the decision to get it.
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#2144954 - 09/06/17 02:56 PM Re: HMDA software out there..... Catm1991
RR Becca Offline
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out of the frying pan...
Also a new QuestSoft user here. It is very straightforward and simple to use, though - like raitch - I haven't quite figured it all out yet.
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#2144958 - 09/06/17 03:10 PM Re: HMDA software out there..... Catm1991
raitchjay Online
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I'm gonna throw this out there too....most people probably aren't as dense as me and would figure this out right away, but it might save someone some heartache......if you're scrubbing your data IN QuestSoft, then you might want to be sure that your upload from your LOS is only done on a monthly basis. The first couple of months, i was uploading the whole year each time...which meant that my corrections in QuestSoft basically got whitewashed every time i uploaded. Once i figured out to only upload the newest month, then that month's corrections were the only ones i had to worry about.
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#2144968 - 09/06/17 03:38 PM Re: HMDA software out there..... Catm1991
TMatt87 Offline
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Idaho
Questsoft user for seven years and have no complaints. Very easy to use and good customer service.
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#2145013 - 09/06/17 07:14 PM Re: HMDA software out there..... Catm1991
hmdagal Offline
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We don't use Questsoft, but our software lets us choose whether or not we want to update existing applications, add new applications, or both when importing data. I would imagine that most of the software choices would be similar in that regard.

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#2145040 - 09/06/17 08:47 PM Re: HMDA software out there..... MBrownie
Brightside3277 Offline
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Joined: Aug 2012
Posts: 84
Oklahoma
We are both a Mortgagebot LOS and LaserPro user, and we were told by our representative that they are currently working on software that will be able to export both LAR's into one single excel LAR. I was looking at additional software as well, until I was told about this new option. Finastra/D&H (they own both Mortgagebot and LaserPro) hasn't rolled it out yet, but it is supposed to be available third quarter. It was mentioned in one of their Knowledge Center Articles about a month ago.
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#2148598 - 10/04/17 03:16 PM Re: HMDA software out there..... Catm1991
zozo Offline
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Joined: Aug 2015
Posts: 27
I am also looking for HMDA software.

We are a small bank (about 60-80 LAR/year) and the current process is manual via FFIEC free software. Because of 2018 HMDA changes, we are thinking to change the process. For us, we hope the software can do 1) HMDA reporting and 2) HMDA data analysis.

After I read this thread, we demoed Questsoft, RATA and Marquis. They all provided similar functions. (for sure RATA had more bells and whistles like Dani York said in the discussion earlier) At first, I want to go with Questsoft because our mortgage software (Calyx) partners with them. So, data importing/mapping should not be an issue. However, I found that we can’t pick and choose banks when we do HMDA data peer group analysis (Market Data Module). The peer group data is pre-set in the software. Is that right? Or I missed something.

Can someone currently use Questsoft kindly give me some feedbacks? Many thanks in advance!

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#2148671 - 10/04/17 06:08 PM Re: HMDA software out there..... Catm1991
Banker K, CRCM Offline
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Oklahoma
@ BrightSide3277, we have been using LaserPro and MortgageBot for a few years and they each exported onto our single LAR in QuestSoft. The process was pretty simple. Good experiences.

Our Secondary Market has purchased Encompass though, so we will not have any more exports from MortgageBot for the new 2018 LAR.
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#2156528 - 12/07/17 09:53 PM Re: HMDA software out there..... Banker K, CRCM
ccman Offline
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Posts: 905
I have a similar situation with our bank. In-house loans use LaserPro, but secondary market loans use
Encompass. Can the two be merged into one file or can we send up more than one file thru the portal?

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#2156565 - 12/08/17 02:15 PM Re: HMDA software out there..... Catm1991
Banker K, CRCM Offline
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Posts: 290
Oklahoma
@ CCMan, if you have LAR software (like QuestSoft) it is quite easy to merge the data into one single HMDA LAR.
Each month, the SM creates their HMDA Data file from Encompass, then exports it into QuestSoft.
Similarly, I create a HMDA Data file from LaserPro, then export it into QuestSoft as well.
I print the LAR for transactions for that month (ex: all in October) to reconcile and do a random sample.
It has all the transactions from each system on the one report.
I really enjoy QuestSoft and if you ever decide to purchase this type of software I'd be glad to be a contact for questions.

Hopefully someone else with experience in exporting two systems' data into the CFPB's portal can help you out with your Q.
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#2156756 - 12/11/17 03:35 PM Re: HMDA software out there..... Banker K, CRCM
ccman Offline
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Posts: 905

Thank you for your reply. We will be looking into this option.

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