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| Mavent Releases MC2 Version 2.9 Mavent has announced the release of version 2.9 of the Mavent Compliance Console (MC2). The Web-based, front-end interface to the company's core solution, the Mavent Expert System, now enables Mavent's clients to access the company's lender and broker license repository, a proprietary database comprised of more than 450,000 licensed lenders and brokers and includes 155 license types. MC2 2.9 offers lenders and investors a custom compliance solution for a fraction of the cost of developing and maintaining a proprietary solution. Identical to all Mavent solutions, clients can customize the rules according to their unique interpretations and compliance policies. MC2 2.9 can also be private labeled, complete with client logos and color schemes, enabling lenders to increase brand loyalty and client satisfaction. For example, lenders can leverage the customization to offer brokers or correspondents better execution, lower kick-out rates, and a positive brand experience. Additional enhancements include a comparison worksheet presenting the disclosed payment schedule and the Mavent calculated payment stream, more flexible custom reporting, streamlined fee screens, field level validation and an improved online self-help search tool. In addition to TILA and high cost, MC2 2.9 reviews loans against nearly 300 federal, state and local legislative acts and regulations. Loan terms — such as fee limitations, interest usury ceilings, permissible accrual methods, late fee and grace period provisions, and prepayment penalty restrictions — are not only addressed, but treated appropriately based on how parties are licensed or chartered, as well as according to the transaction type. Mavent's MC2 platform enables mortgage originators and purchasers of all sizes to quickly and easily access Mavent's core solution, the Mavent Expert System, which submits loans for review against nearly 300 legislative acts, 200 license types, and the rules and regulations of over 60 regulatory authorities. write your comments about the article :: © 2007 Computing News :: home page |