Portellus Integrates QuestSoft's Instant Geocoder
Partnership enables easy identification of CRA and Low/Mod borrower opportunities throughout enterprise
IRVINE and LAGUNA HILLS, Calif., Oct. 20, 2005 - Portellus, a leading provider of Web-based technology tools and services designed for the financial services industry, and QuestSoft, a leading provider of Home Mortgage Disclosure Act (HMDA) software, geocoding solutions and Community Reinvestment Act (CRA) compliance software, announced the completed and released integration of QuestSoft's Instant Geocoder XML databases into Portellus' loan origination system (LOS). The seamless integration ensures accuracy, eliminates manual reviews and save time.
Portellus' Mortgage Solutions Framework enables service-oriented integration throughout its LOS that provides users with the ability to geocode loans for HMDA purposes and to easily identify marketing opportunities to low and moderate-income borrowers much earlier in the lending process. The integration also allows users to pool these loans for sale to banks or investors interested in targeting specific geographic areas or borrower characteristics to meet community development goals.
"Portellus has gone several steps further than many of our integration partners in that they understand the value of geocoding beyond the regulatory world of HMDA," said Leonard Ryan, president of QuestSoft. "Portellus' LOS customers who take advantage of the integration will realize a huge benefit from the expanded integration."
Early identification of low- to moderate-income loans allows originators and lending institutions to each benefit from the credits provided by investors or banks in the form of more favorable underwriting or available monetary bonuses. These credits can amount to as much as 25 to 50 basis points per loan.
"Instant Geocoder's integration into Portellus' Mortgage Solutions Framework provides lenders with an out-of-the-box solution that easily determines compliance values and marketability, thus eliminating redundancy and making the compliance process less time-consuming and less labor intensive," said Skip Hulme, director of product management at Portellus. "Put simply, it's a pre-built integration that makes managing this onerous process easier for lenders."
Portellus will be offering demonstrations of its suite of mortgage technology solutions at the MBA's 92nd Annual Convention and Expo in Orlando, October 23 - 26, in booth 636.
About QuestSoft
Laguna Hills, Calif.-based QuestSoft is a compliance software development firm specializing in the Home Mortgage Disclosure Act (HMDA), Community Reinvestment Act (CRA) and automated compliance solutions to more than 1,500 banks, credit unions and mortgage companies nationwide. The company provides software design, compliance-quality geocoding and outsourcing services that are backed by 16 years of direct mortgage software and origination experience. For more information about QuestSoft and its products, visit the company's Web site at www.questsoft.com.About Portellus
Headquartered in Irvine, Calif., Portellus Inc. is a leader in the application of Service Oriented Architecture (SOA) for the mortgage banking and insurance industries. The company''s Decision Management Solution, Business Rules Management System, Portal Solutions, Mortgage Solutions Framework, and Insurance Rating and Underwriting Engine seamlessly integrate with existing systems to enable clients to gain competitive advantages, reduce costs, mitigate risk, increase profitability and enter new markets. For more information, please visit www.portellus.com or call 949-250-9600.- CONTACTS:
- Joe Bowerbank
- Portellus, Inc.
- 949.250.9600, ext. 250
- jbowerbank@portellus.com
- Elizabeth Salter
- William Mills Agency, for QuestSoft
- 678.781.7224
- elizabeth@williammills.com
View More Press Releases
