LAGUNA HILLS, CALIF. (11/21/13)--QuestSoft Corp., a provider of automated mortgage compliance software to financial institutions including credit unions, released enhancements to its Compliance VERIFY software to help lenders satisfy the Consumer Financial Protection Bureau's (CFPB) Ability-to-Repay (ATR) rule, which goes into effect in January 2014.
The update provides users with full Internal Revenue Service (IRS) 4506-T and Social Security Administration (SSA-89) verification services and electronic transcripts integrated into the Compliance EAGLE QM/ATR pre-funding solution.
Compliance VERIFY provides an interface for ordering, collecting and organizing income and Social Security Number (SSN) verifications. QuestSoft can also accept e-signed 4506-T submissions with seven e-sign companies including: Communication Intelligence Corp., DocMagic, DocuPrep, DocuSign, eSignSystems, IDS and Silanis.
A free software development kit is available for any loan origination software (LOS), document or pricing vendor to quickly integrate the services and automate ATR compliance.