Mavent Debuts Compliance Software For Making Home Affordable

Posted by Orb Staff on March 10, 2009 No Comments
Categories : Mortgage Servicing

Mavent Inc., a provider of automated regulatory compliance software and solutions to the mortgage industry, is now offering a new automated compliance engine (ACE) that reviews loans for compliance with aspects of the Obama administration's Making Home Affordable program.

Clients can submit loan data and receive a detailed report in seconds that identifies and describes issues relating to consumer protection violations, Fannie Mae and Freddie Mac predatory lending guidelines, and the Treasury's Home Affordable Refinance and Home Affordable Modification program eligibility.

"The regulatory and program requirements surrounding Obama's mortgage plan are complex," says Louis Pizante, CEO of Mavent. "Mavent provides an inexpensive and expedient way of ensuring compliance, so that clients can focus all their resources on executing successful refinancings and loan modifications immediately."

Mavent's Making Home Affordable ACE evaluates loans for compliance with aspects of the Truth In Lending Act, Homeownership and Equity Protection Act and state predatory lending laws. Mavent further evaluates the loan to make sure that it is salable to Fannie Mae and Freddie Mac.

The ACE also evaluates the loan to make sure it complies with critical aspects of the eligibility requirements of Fannie Mae's Refi Plus and Fannie Mae DU Refi Plus, Freddie Mac's Relief Refinance Mortgage and the Treasury's the Home Affordable Modification programs.

SOURCE: Mavent

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