Leonard Ryan.

Author:Ryan, Leonard


Ryan got his start in the industry as a licensed originator in 1983. That gave him an up-close look at the shortcomings of industry technology.

He recalls the technology tools available to originators in the early 1980s this way: "When I started, it was IBM Selectric typewriters and multipart forms--and lots of Wite[R] Out."

He added, "A copy machine, fax machine and a printer preloaded with credit report forms were state-of-the-art when 1 originated my first loans. Quite a bit has changed."

Ryan since then has devoted his career to creating fully automated compliance systems to ensure financial institution compliance. But first he helped develop a software solution built for PCs to increase lending efficiencies, which he called PowerPak Mortgage Software. In four short years, he saw the product and LOS platform grow from 50 initial customers to 970. During this time, Ryan also created a standardized loan submission form at a time when investors were requiring their own custom form. Ryan's form was adopted by the California Association of Mortgage Brokers and a similar facsimile is still in use by all loan origination systems today.

Ryan is currently working on similar efforts to standardize a form to include the new Qualified Mortgage/ability-to-repay elements that could eliminate proprietary forms recently introduced by various investors.

But for the past 19 years, Ryan's focus has been on QuestSoft and its solutions for compliance with laws such as the Home Mortgage Disclosure Act (HMDA). QuestSoft's first solution, HMDA RELIEF, is the company's best-selling software and is designed to simplify the HMDA data-submission process.

Ryan and his team have also developed other solutions for the industry. CRA RELIEF, designed to simplify compliance with the Community Reinvestment Act (CRA), was another product that proved popular.

Since Ryan first started rolling out solutions, compliance has become an even more back-breaking component of business for mortgage lenders. In response, his team has rolled out a series of new product lines: Compliance EAGLE (conceived in 2005) followed by...

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