QuestSofts Report Reveals CRA Exam Analysis and Trends Over the Past 10 Years
Summary
LAGUNA HILLS, Calif.--(BUSINESS WIRE)--QuestSoft Corporation, the nations leading provider of automated mortgage compliance software, has completed a study reviewing 14,765 Community Reinvestment Act (CRA) performance evaluations conducted from 2010 to 2020 involving large, intermediate, and small institution exams from the OCC, FRB, FDIC, and OTS. Leonard Ryan, president of QuestSoft, feels that all institutions can use this information to evaluate their current CRA compliance: "With the OCC [Office of the Comptroller of the Currency] going at it alone on CRA reform, it is evident that there will be a change in approach across agencies. While some lawmakers have criticized CRA for being too easy on institutions, the data shows earning an "Outstanding" rating is an exceptional accomplishment. Details of the full report can be found at https://questsoft.com/news/e-library/e-books/analysis-of-cra-performance-ratings QuestSoft Corporation is the leading provider of comprehensive compliance software and services for the mortgage, bank and credit union industries. QuestSoft offers HMDA processing and reporting, CRA and fair lending compliance analytics, data management and software design expertise, enabling more than 2,500 customers to simplify and speed the collection, analysis and reporting of key lending data.
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