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GreenPoint and Homestar sign with Mavent.

GREENPOINT MORTGAGE FUNDING INC., New York, has signed a five-year contract extension with Mavent Inc., Irvine, California. Mavent's 2comply Expert System is currently deployed in all of GreenPoint Mortgage's retail and wholesale loan branches and is performing preclosing compliance reviews for all of GreenPoint's residential loans.

Mavent's 2comply Expert System is a real-time residential mortgage compliance solution that reviews every loan in a residential mortgage lender's production pipeline for compliance with applicable federal, state and local lending laws, rules and regulations prior to funding.

In addition, Homestar Mortgage Services LLC, Paramus, New Jersey, has signed a five-year contract with Mavent to provide a fully automated mortgage compliance solution for the company's newly formed conduit division. Mavent's Intercept[TM] Expert System will review pools of residential mortgages for compliance with applicable predatory and high-cost provisions as well as the federal Truth in Lending Act (TILA) prior to purchase.
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Title Annotation:TechNewz; contracts with Greenpoint Mortgage Funding Inc and Homestar Mortgage Services LLC
Publication:Mortgage Banking
Article Type:Brief Article
Geographic Code:1USA
Date:Apr 1, 2004
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