QuestSoft Introduces Instant Geocoder XML Server Edition at the MBA's 90th Annual Convention & Expo; Flexible System Enhances Enterprise Performance Capabilities via the Internet.Business Editors MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration Annual Convention & Expo SAN DIEGO--(BUSINESS WIRE)--Oct. 20, 2003 QuestSoft, a provider of Home Mortgage Disclosure Act (HMDA HMDA Hexamethylene Diamine (chemistry) HMDA Hitchhiker Motorized Door Assembly HMDA High Mobility DGM Assemblage HMDA Home Mortgage Disclosure Act of 1974 ) and 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. ) compliance solutions and in-house geocoding services for brokers and lenders, announced today at the 90th Mortgage Bankers Association Convention & Expo the availability of the Instant Geocoder(TM) XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. Server Edition (IG XML), which enables lenders to operate Instant Geocoder, the company's flagship compliance software product, on virtually any platform and in any application. IG XML can determine a loan's marketability or compliance value from remote locations and is a completely self-contained product that does not require any third party application or Web services (1) Loosely, any online service delivered over the Web. Such usage appears in articles from non-technical sources, but not in IT-oriented publications, because definition #2 below describes the correct use of the term. to run. It can be used in both Microsoft(R) Windows(R) and non-Windows environments and is designed for use under Windows 32-bit servers (NT/2000/XP) or systems using Linux 2.4 and higher. The platform performs several integrated tasks including verifying HMDA/CRA compliance, identifying low-moderate income (LMI LMI Labor Market Information LMI Local Management Interface LMI Logistics Management Institute LMI Linear Matrix Inequality LMI Legemiddelindustriforeningen (Norway) LMI Low to Moderate Income LMI Lender's Mortgage Insurance ) loans, conducting general address verification and measuring the success of direct or targeted marketing efforts. "IG XML is easier to integrate than previous geocoding systems because of the increased flexibility of the platform," said Leonard Ryan, president of QuestSoft. "The system also allows lenders to perform compliance and address verification at the point of origination, which enables users to quickly determine whether or not a loan is being originated in a low to moderate level income census tract A census tract, census area, or census district is a particular community defined for the purpose of taking a census. Usually these coincide with the limits of cities, towns or other administrative areas and several tracts commonly exist within a county. . These loans are increasingly becoming a valuable source of revenue, because lenders and brokers can use them to negotiate premium pricing Premium pricing is the practice of keeping the price of a product or service artificially high in order to encourage favorable perceptions among buyers, based solely on the price. from institutions that are in need of mortgage loans that qualify for CRA." IG XML users can access QuestSoft's Instant Geocoder database, containing more than 32 million street addresses, through the Internet or local network. The platform is ideal for companies that need to geocode ge·o·code n. The demographic characterization of a neighborhood or locality, especially as used in marketing. large numbers of records at a time, because the platform can verify the compliance status of a single record or batch requests. In fact, IG XML can verify the HMDA and CRA status of several thousand loans per hour and can cross-reference cities with zip codes, reducing delays and errors for hard-to-find addresses. "IG XML is a compliance tool that can process large numbers of loans quickly and accurately from remote locations," said Ryan. "It gives compliance agents additional options in terms of risk management and can help lenders and brokers find new ways to be profitable in the post-refinancing era." Like Instant Geocoder, IG XML uses the most up-to-date census tract 2000 demographic information to help lenders determine a potential loan's HMDA and CRA compliance value and marketability before issuing a loan quote. The system also offers users additional information regarding counties, median income and the identification of federal empowerment zones within seconds. 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 more than 1000 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. |
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