PowerLender Enhances Mortgage Compliance Through Integration with QuestSoft’s Compliance EAGLE

LAGUNA HILLS, Calif.–(BUSINESS WIRE)–QuestSoft, the leading provider of comprehensive mortgage compliance automation, now offers its end-to-end mortgage compliance platform to more lenders nationwide through an integration with Associated Software Consultants, Inc.’s (ASC) PowerLender® loan origination system (LOS).

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With Compliance EAGLE’s proactive loan compliance tools and capabilities, lenders using PowerLender can save time and avoid costly penalties by testing every loan for full adherence to national, state and investor rules and regulations both and pre- and post-closing. Compliance EAGLE automates the entire mortgage lending compliance process through a single platform, delivering increased speed, data integrity, and reporting capabilities. Additionally, as new regulatory guidelines are introduced to the mortgage industry, Compliance EAGLE automatically applies updates to maintain optimal compliance procedures.

“Compliance impacts every step of the mortgage process,” said John Liston, co-owner and director of product development at Associated Software Consultants. “Partnering with QuestSoft’s Compliance EAGLE ensures that our lenders can test every loan for adherence to the regulations at any step of the loan process, eliminating the need for costly changes to a loan post-closing for compliance issues.”

Lenders using PowerLender and Compliance EAGLE’s automated compliance rule sets can automate the screening of loans for adherence to Ability-to-Repay/Qualified Mortgage (ATR/QM), Home Mortgage Disclosure Act (HMDA), Home Ownership and Equity Protection Act (HOEPA), Office of Foreign Assets Control (OFAC), Social Security Number (SSN) checks, and more regulations. Users can select the services, reviews and tests to administer and quickly view the results, gaining valuable insight on which services have passed or failed. Furthermore, QuestSoft’s Compliance EAGLE software verifies and complies with federal, state, local consumer and high cost tests.

ASC’s PowerLender processes loans for primary and second mortgages, construction, HELOCs, personal, vehicle, energy and manufactured housing loans as well as nontraditional products for private banking and wealth management. Its system goes beyond traditional LOS technology by enabling growth while dramatically lowering costs.

“The constantly evolving regulatory environment of the mortgage industry makes automated compliance essential for a quality loan portfolio that improves asset profitability while reducing unnecessary risk exposure.” said Leonard Ryan, president of QuestSoft. “PowerLender’s integrations with Compliance EAGLE reduce the time and expenses associated with complex compliance processes. At the same time, their customers can trust the integrity of the data, thereby ensuring full compliance with the latest regulatory updates, applicable laws and secondary market guidelines.”

About Associated Software Consultants, Inc.

Associated Software Consultants, Inc. (ASC) designs and markets loan automation and secondary marketing software for use by mortgage lenders, community banks and housing agencies. ASC’s business strategy focuses on providing software and support services that enable lenders to improve the volume and quality of their business, streamline workflow and reduce costs. The company’s lending solutions enhance primary and secondary mortgage operations, improve overall profitability and better serve borrowers and other constituents. For additional information about ASC, visit the company’s Web site at

About QuestSoft®

Laguna Hills, Calif.-based QuestSoft is a leading provider of comprehensive compliance software and services for the mortgage, banking and credit union industries. QuestSoft combines 20+ years of mortgage regulatory, CRA and Fair Lending compliance analytics, data management and software design expertise with best-in-class customer service to consistently improve client compliance accuracy and facilitate smoother regulatory audits. QuestSoft products, interfaced with over 40 LOS providers, enable more than 2,500 clients to simplify and speed the collection, analysis, compilation and reporting of key lending regulatory report data. For more information, call 800-575-4632, ext 1, or visit


For QuestSoft:
Stephen Sprayberry, 678-781-7207
David Jones, 678-781-7238

For PowerLender:John Liston, 800-628-4687 x137


Our Compliance Journey

Our Compliance Journey

For the past two years we’ve all been talking about TRID compliance. Now that the deadline has come and gone, I think it’s instructive to discuss how technology vendors handled this big challenge. In our case, when Associated Software Consultants, Inc. (ASC), the developer of the PowerLender Loan Origination System, first became aware of the looming regulatory requirements that comprise what we now know as TRID, namely the delivery of a new loan estimate and closing disclosures documents, they hatched the idea of developing a solution within the LOS itself, rather than have their clients rely on doc prep vendors.

After combing through the initial regulation specs beginning in late 2012, ASC determined that there could be literally thousands of variations of the forms required to deliver the final documents. Maintaining a vast series of boilerplate docs and using line coordination to map the data was barely feasible and certainly not practical. They focused their energies on using PowerLender’s dynamic document generation capability, which employs XML mapping, to determine the correct series of documents to generate in order to fulfill the TRID requirements.

While working on development of the solution and subsequent upgrade to PowerLender, ASC wrote and distributed two comprehensive guides for their end users to aid in the preparation, implementation and testing of the PowerLender TRID solution. The first was the Setup guide, which outlined the procedures that users were required to execute ahead of the software upgrade. The second guide outlined in detail the procedures required to map the data generated in PowerLender to the forms, to be employed after the upgrade had been installed.

Chelsea Groton Bank, a billion dollar bank located in Groton, Connecticut, has been using PowerLender since 2003. Rachel Carlson, AVP and Retail Loan Operations Manager, is a self-described ‘technical person’ and ‘well versed’ in PowerLender’s business- rules flexibility commented on how ASC and PowerLender prepared their institution to generate the loan estimate and disclosure documents.

Here’s her story:

We first began the preparation process for accepting the PowerLender TRID solution in the fall of 2014 when we began gathering information and analyzing the setup manual that ASC had prepared and distributed to PowerLender users. We then went through our own internal audit to determine the work that was needed to get our PowerLender system ready for the programming update. During this time, we consulted often with the PowerLender support team who were not only available at our convenience, but were extremely thorough with their answers and also provided clarity on issues to satisfy my ‘technical’ inquiries.

I can’t say enough about how useful the Setup guide has been, we wouldn’t have been able to do this project without it. It has been amazing.

When the software upgrade was ready the next spring (2015), we installed it on our test environment. This is a very valuable feature of PowerLender, which allows us to simulate all of the aspects of our current configuration for use in testing without compromising our production environment. We then began mapping the required field using the mapping guide that ASC had provided. As soon as we had fields mapped, we began printing docs to see how things were coming out of the system. Our testing process continued in this manner, mainly printing and checking the docs as we made our way through our different loan programs that we offer.

In conjunction with the actual mapping and testing procedures, we have developed an in-depth training program for our staff based upon their roles. Our loan officers obviously need to be very familiar with the loan estimate and have the ability to explain it to borrowers, and all of our back office processors and underwriters will get an in-depth training as well. As for the closing disclosure, we are still determining what roles will receive the various levels of training that we have developed, while focusing on the ability to explain all the details to the borrower at the closing table. We have a group that has been creating our training program and it has been very essential in getting us ready.

We are fortunate to have been on this fast track for getting the TRID documents produced because it has allowed us to develop a thorough training program that is tailored to all the different roles we have at the bank. This has also helped tremendously to allay any fears the staff may potentially have developed over the past few months when they read or heard about potential changes to the regulations. This training has given them confidence to not only understanding the regulations, but providing confidence that they can handle them should they occur.

In talking with other colleagues who use different systems, I think we are so far ahead of them in terms of being prepared. As I said, the guides were very well put together and thought out and on the items where I had a little confusion, the PowerLender support staff was always available to help.

In implementing this change, everyone wishes we had more time. We did get a little reprieve from the CFPB, but I feel that the guides, the updates, and the rollouts of the system patches are examples of the commitment of the PowerLender people to getting their clients ready. The patches, which seemed to be issued every two weeks, were in direct response to PowerLender users who were testing the solution and reporting back to them what changes were needed and their response was phenomenal, I can’t say enough about the support we received from them.

We achieved success in part due to the commitment of our people to this project. This was a large undertaking for us because we offer a variety of products in PowerLender. Not only did we have to deal with this new regulation, which we understand is part of the territory, but we also had to maintain our lending operation as well. I cannot stress enough the efforts of our people and the PowerLender team that supports us. We strove to keep moving forward on this and when we encountered an issue, we were able to make adjustments and move on which, again, shows the dedication of everyone involved.

In terms of having a good relationship with a service provider, really any service provider, is the ability to have open, constructive communication from both sides. Having a service provider who is responsive is a huge part, as we have dealt with many who are not, but the important thing is dialogue. Every issue that I have come across, either with my end users or with setting up PowerLender, I have been able to either call or email and get a prompt response or engage in a consultation to work out the issue. As I’ve said, we have had non-responsive service providers in the past and when you encounter that, you just say ‘forget it’ and move on; however, this was not an issue with PowerLender, and we are thankful because we simply could not have just ‘moved on’ without their guidance along the process. Knowing that they were there for us lifted a burden from our shoulders.

What we hear from some of our common vendors that we share with our competition is that other lenders are saying everything from ‘yes, we’re ready and set to go’ to ‘I don’t know how this is going to get done…we’re not even close’ when they are asked if they will be ready for October 3rd. To be fair, it’s hard to gauge everyone’s true feelings because it hasn’t hit yet, so nobody really knows.

But I feel for us, having a well thought-out plan, specific setup and mapping guides, thoroughly tested software upgrades and timely updates coupled with highly interactive guidance and support makes a big difference and gives us a huge level of confidence that has made this large and complex project much more manageable.


We know we’re on the right path, we have the support of our LOS and the PowerLender people, and we’re going to get there together.


Tick Tock…Time is Running Out

For mortgage lenders, time is speeding by at a rapid rate as the August 1st deadline to comply with the CFPB’s new disclosure requirements swiftly approaches. When asked this question: ‘Is your organization prepared for the CFPB requirements deadline?’ lenders have generally answered in one of two ways. One is: ‘We think we’re going to be fine.’ The second is: ‘We have no idea.’ While the former answer appears to be considerably better than the latter, the truth is that neither answer is very good, especially with the clock running.

Lenders appear to be ambiguous on the matters of what is required of them and what their options are toward a solution. What most lenders are very clear on are the consequences that would result from non-compliance. No one wants to face costly fines, penalties or suspension of mortgage lending and no one wants to think of the impact these might have on their business reputation.

The lenders who think they are on the right track to compliance should already have seen what their disclosure documents are going to look like. They should know exactly what data is required on the docs and how it is going to get there. They should already have full understanding of what the impact of delivering the new disclosures is going to have on their lending operation. If they are employing a document delivery entity or a web service to generate the docs, they need to know exactly what the preparation, implementation and testing costs will be in both hours and dollars. They need to know if and how these solutions will impact the processing time and the cost of their mortgage loans. By now, lenders should have done at least some preparation toward compliance.

However, all is not lost, even to those lenders who not certain as to their status on the CFPB. How many games have we witnessed teams revealing their winning fortitude in the last two minutes or during their last at-bat? Much information is available as to the requirements of the CFPB and the differing approaches that are available to delivering the disclosures. A concentrated effort coupled with a measured approach in finding the right solution for August 1st and beyond can be the key to success. Lenders who look can look beyond the deadline and understand that other regulatory requirements are looming may be in a better position to choose a solution that can better prepare them for the changes that may come along.

While it is most definitely ‘go time,’ lenders should fully understand the impact that these new regulations will have on their operation and should apply clear thinking in their approach to finding a solution that allows them to continue their mortgage lending operation and avoid penalties, all while being cost-effective and allow them to embrace future regulations with little additional effort. Time may be running short, but it is not too late.

About The Author

John Liston is a part owner of ASC, and directs the development of the PowerLender LOS. He joined ASC in 1979, after working as a journalist. He has been a vital part of the development and maintenance of ASC’s Loan Origination Systems for more than 35 years. John is a strong advocate of open source software and standards-based software architecture. He is ASC’s primary representative to MISMO, and chairs MISMO’s Business Rules Exchange Workgroup. John holds a BA in Economics from Northwestern University, and an MS in Journalism from The Ohio State University.


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Farmington Bank Launches Correspondent Lending Portal, April 23, 2015

Farmington Bank, a full-service community bank with 22 branch locations throughout central Connecticut, has launched its new Correspondent Lending Portal (CLP), which offers a real-time cloud-based link between the bank and its correspondent lenders.

The new portal is powered by technology from Data-Vision Inc. and Associated Software Consultants Inc. (ASC). Data-Vision develops technologies that enable mortgage lenders to quickly and affordably implement Web portal and e-lending capabilities, while ASC is developer of the PowerLender loan origination system.

“Being able to provide an electronic lending portal to our correspondents is imperative in today’s banking market,” says Jim Wilson, senior vice president and director of residential and consumer lending at Farmington Bank, in a release. “The CLP solution allows us to streamline processes and significantly increase production while driving cost efficiencies.”

Thanks to this integration, the bank’s correspondents will have a robust solution for pricing, registration and ongoing communications.

“The collaboration with ASC was exceptional which allowed us to deliver this powerful solution to Farmington Bank,” says Randy Schmidt, president of Data-Vision. “The CLP solution delivers real-time pricing, immediate registrations, pipeline management, secure messaging and document exchange. This allows for faster and more complete data transfer with less overall maintenance and better communication between all parties.”

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Staying Ahead of the CFPB

Will Every LOS Be Ready for TRID?

Will every LOS be able to hit the August 1st deadline for the new RESPA-TILA disclosures? Probably not, but the rule will separate the good systems from the bad systems, and the good systems will be ready. For example, Associated Software Consultants, Inc., (ASC) developer of the PowerLender Loan Origination System, announced that its built-in Loan Estimate and Closing Disclosure documents solution has been delivered with the latest release, and users are implementing and testing the solution ahead of August deadline. Here’s the scoop:

The release is the culmination of a year-long effort to prepare its user for the new disclosures. Introduced by the Consumer Financial Protection Bureau (CFPB) to replace the Truth-in-Lending disclosures, the Good Faith Estimate and the HUD-1 settlement for most loans, the Loan Estimate and Closing Disclosures will be mandatory for lenders beginning August 1, 2015.

PowerLender’s solution enables lenders to dynamically generate the Loan Estimate and Closing Disclosures from within PowerLender and allows them to exploit the efficiencies the LOS offers in terms of speed and accuracy. It uses an XML map to generate the disclosures, thus eliminating the need to maintain boilerplates and readies lenders for future delivery of Uniform Closing Dataset to the GSEs. The UCD is not yet required, but most agree it will likely be required soon. It will also have them ready well ahead of the deadline, averting the possible penalties, fines or loss of business.

“The final piece of our Loan Estimate and Disclosures solution has been delivered to our users with the latest release of PowerLender,” said John Liston, Director of PowerLender Development. “Once user acceptance testing is performed, they will be ready to generate the CFPB integrated disclosures ahead of the August 2015 deadline, and at a minimal cost.”

About The Author

Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at