Alliance Between QuestSoft and Dynatek Offers Lenders Expanded Flood Zone Determination Services.Business Editors LAGUNA HILLS La·gu·na Hills A city of southern California southeast of Santa Ana. Population: 33,600. , Calif.--(BUSINESS WIRE)--April 23, 2003 QuestSoft, a provider of compliance solutions and automated geocoding services, and Dynatek, Inc. (Livonia, Mich.), one of the leading providers of full loan origination The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. software solutions to the mortgage industry, announced the incorporation of QuestSoft's flood determination services with Dynatek's MORvision(TM), the company's loan origination software (LOS). This development offers lenders a cost-effective, cutting-edge tool to further enhance their ability to meet federal requirements regarding flood zones by identifying properties on a flood plane and certifying each property's flood zone status. "Dynatek and QuestSoft have worked together for almost two years to bring lenders the best geocoding technology available," said Craig Backus, Dynatek's interface coordinator. "QuestSoft's new determination interface contains very high levels of integration with our own MORvision and provides lenders with an accurate and efficient tool for making flood determinations." QuestSoft's flood determination services can be accessed online to process submissions quickly and accurately. The process usually takes only 15 seconds to complete in most cases. The interface also allows lenders to track the progress of their submissions. "We designed QuestSoft's flood determination services to be the most automated, efficient and competitively priced on the market," said Leonard Ryan, founder and president of QuestSoft. "This new interface eliminates all unnecessary duplication and completely integrates the flood information back into Dynatek's MORvision system. I'm very appreciative of the development efforts and cooperation of both my team and the Dynatek staff. It is the most comprehensive, seamless integration An addition of a new application, routine or device that works smoothly with the existing system. It implies that the new feature or program can be installed and used without problems. Contrast with "transparent," which implies that there is no discernible change after installation. we have ever undertaken for our flood services." The flood determinations are provided through a partnership with QuestSoft and its technology partner, Determination Processing Services, Inc. (DPSI DPSI Diploma in Public Service Interpreting DPSI Dots Per Square Inch DPSI Dynamic Process Solutions, Incorporated DPSI Data Partitioned Secondary Index ). QuestSoft also integrates its Instant Geocoder and HMDA HMDA Hexamethylene Diamine (chemistry) HMDA Hitchhiker Motorized Door Assembly HMDA High Mobility DGM Assemblage HMDA Home Mortgage Disclosure Act of 1974 RELIEF products with Dynatek's MORvision products. Dynatek's MORvision is a Windows(R)-based loan origination system. The system utilizes plug-in technology to achieve a seamless integration with third party service providers like QuestSoft. About Dynatek Founded in 1986, and headquartered in Livonia, Mich., Dynatek, Inc. is an established leader in providing proven mortgage software solutions to the mortgage industry. The company is attributed with a long list of industry innovations including being the first company to develop a mortgage software solution in 1986, creating a Windows(R)-based origination Origination The process through which a mortgage lender creates a mortgage secured by some amount of the mortgagor's real property. Notes: Also known as loan origination, everyone must go through the origination process when securing a mortgage for a piece of real product in 1995, and the first company with an Internet origination solution in 1999. With its complete software system, MORvision, Dynatek has implemented and currently services hundreds of full-service financial institutions across the nation, including mortgage bankers Mortgage Banker A company, individual or institution that originates, sells and services mortgage loans. Notes: Don't confuse a mortgage banker with a mortgage broker. , commercial banks, saving institutions, credit unions and mortgage brokers. For more information about Dynatek, visit the company's Web site at www.dynatek.com. About QuestSoft Laguna Hills, Calif.-based QuestSoft is a compliance software development firm specializing in the Home Mortgage Disclosure Act (HMDA), Community Reinvestment Act Community Reinvestment Act (CRA) Enacted by Congress in 1977, the CRA encourages banks to help meet the credit needs of their communities for housing and other purposes, particularly in neighborhoods with low or moderate incomes, while maintaining safe and sound operations. (CRA See Community Reinvestment Act. ), flood determination and other settlement services. The company provides software design, compliance-quality geocoding and outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. services that are backed by 16 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. |
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