Mavent Expert System Selected by LendingTree Loans for Direct Mortgage Lending

Business Wire, Jan 9, 2006

IRVINE, Calif. -- Mavent Inc., a leading provider of automated compliance solutions for the financial services industry, has begun reviewing direct mortgage loans for LendingTree Loans and HomeLoanCenter.com, the direct-lending units of Charlotte, N.C.-based LendingTree, LLC.

LendingTree Loans and HomeLoanCenter.com are submitting data for compliance review to Mavent's core automated compliance solution, the Mavent Expert System. The Mavent system reviews the loans for compliance with aspects of the Truth In Lending Act; local, state and federal high cost thresholds, state licensing and consumer credit laws, HMDA and Fannie Mae's points and fees thresholds.

The Mavent Expert System is a comprehensive automated solution that submits loan data for reviews against nearly 300 legislative acts, 200 license types, and the rules and regulations of over 60 regulatory authorities. Over 10 million reviews have been processed using Mavent's system to date.

"Effectively maintaining regulatory compliance in today's mortgage industry requires the implementation of an automated solution that offers a robust and accurate review capability and the flexibility to adapt to the needs of the institution in which it is employed," said Tim Green, CEO of Mavent. "As LendingTree continues to expand and grow, it will further take advantage of the vast legal expertise, powerful review technology, and workflow flexibility of the Mavent Expert System."

About Mavent Inc.

Mavent Inc. is a leading provider of automated compliance solutions for the mortgage industry. Mavent, founded in 1999, is the developer of the Mavent Expert System and the Mavent Compliance Console (MC2). The Mavent Expert System is a comprehensive automated solution that submits loan data for reviews against nearly 300 legislative acts, 200 license types, and the rules and regulations of over 60 regulatory authorities. The solution's review functions include: loan level lender and broker license reviews; state consumer credit laws relating to such terms as usury, fee restrictions, prepayment penalties, and late fees; Home Mortgage Disclosure Act; Truth in Lending Act; Office of Foreign Asset Control; and, investor program requirements, such as an accurate Fannie Mae points and fees threshold test. The Mavent Expert System is supported by a growing network of law firms, including such prominent firms as Hudson Cook and Reed Smith. Mavent's outside counsel has approved each rule in the Mavent Expert System. The legal rules are identified and explained in approximately 7,000 pages of detailed legal rules documentation.

The Mavent Expert System has conducted more than 10 million compliance reviews to date for some of the industry's largest originators and purchasers, including Fannie Mae, National City Mortgage Corp., Ohio Savings Bank, First Franklin, Ocwen Financial Corporation, Credit Suisse First Boston and GreenPoint Mortgage. For more information on Mavent, contact Louis Pizante, senior vice president of Sales at 949-474-4732 or visit the company Web site at www.mavent.com.

Editor's note: In the acronym MC2, the number "2" is superscript.