Instant mortgage quote

Business Editors

ORLANDO, Fla.--(BUSINESS WIRE)--March 10, 2003

QuestSoft, a provider of Home Mortgage Disclosure Act (HMDA) compliance solutions and in-house geocoding services for brokers and lenders, today announced the availability of Instant Geocoder(TM) PLUS, an upgrade of the company's compliance software, at the 2003 MBA Technology in Mortgage Banking Conference and Expo.

Instant Geocoder PLUS uses the most up-to-date census tract 2000 demographic information to help lenders and brokers determine a potential loan's HMDA and Community Reinvestment Act (CRA) compliance value and marketability before issuing a loan quote. The system now allows users to cross reference cities with corresponding zip codes and offers additional information regarding counties, median income and the identification of federal empowerment zones within seconds. Additionally, it can be incorporated into applications to measure the success of direct and targeted marketing efforts.

Verifying loans at the point of origination allows brokers and lenders to quickly determine whether or not a loan is being originated in a low to moderate level income (LMI) census tract and allows them to negotiate premium pricing from institutions that are in need of mortgage loans that qualify for CRA within their institution's assessment areas.

In addition, Instant Geocoder PLUS is easily integrated with other applications. To date, QuestSoft has signed integration contracts with many prominent loan origination software providers including Calyx, Dynatek, Eastern, FICS and Fiserv to assure compatibility with the geocoding system.

"Brokers and lenders need immediate and uncomplicated information," said Leonard Ryan, president of QuestSoft. "Instant Geocoder PLUS is designed to do just that by enabling users to correct errors and determine additional profit opportunities earlier in the loan process."

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), flood determination and other settlement services to over 900 banks, credit unions and mortgage companies nationwide. The company provides software design, compliance-quality geocoding and outsourcing services that are backed by sixteen years of direct mortgage software and origination experience. In addition, the company has received recognition for its many technological accomplishments.

For more information about QuestSoft and its products, visit the company's Web site at www.questsoft.com.