HMDA software out there.....

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.

We have used Marquis' software CenTrax for a long time and have been very happy with it.

Thank you. I'll look it up and check on it.

Just out of curiosity, what did you think of QuestSoft? I'm considering them here.

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.

You might find this thread helpful: https://www.bankersonline.com/forum/ubbt...ons#Post2117289

We have used RATA Associates for years for both HMDA and CRA reporting. They are very service oriented.
http://www.rataassociates.com/

I use HMDA relief which is a Calyx product. Its pretty good.

I believe Calyx product has partnered with Quest Soft now.

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...

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.

oh - thanks for the info. It is on my list for today to find out the pricing change

We were told that Quest Soft would be $3500.00 annually.

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?

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

Anyone have a contact number for Quest Soft or the others?

sent you a PM

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.

Everything, but it depends on your asset size

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?

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

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.

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.

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.

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.

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.

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.

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.

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

You check the box in that particular record top right - it says something about Quality error verified.

Ahhhhh....i see it now. Thanks rrush.

Has anyone used Wolter Kluwers CRA/CRA Wiz?

Yes. Well, HMDAWiz...

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?

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.

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.

HMDAWiz is the HMDA interface for C-1 Lending and Mortgage LOS.

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.

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.

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.

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.

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.

Questsoft user for seven years and have no complaints. Very easy to use and good customer service.

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.

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.

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!

@ 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.

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?

@ 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.

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

I am in the same boat with two loan origination systems. For the 2017 data, I was able to get a test pipe eliminated text LAR from both and copy/paste them into one text file. It went through the CFPB beta 2017 portal fine. Just remember not to copy/paste the first line of the 2nd LAR.

Since the portal with the 2018 portal won't be out until next summer, we are also planning to sign up with Questsoft to run the 2018 edit checks early in the year.