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Mavent Inc.
 Products / Correspondent ACE Program
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Correspondent ACE Program

The Correspondent ACE (automated compliance engine) program allows secondary market investors to make their ACE available to their correspondent clients. This enables investors to treat their correspondent clients like true partners by enabling them to close loans eligible for purchase. Mavent’s Correspondent ACE program allows an investor’s correspondents to take advantage of the industry’s highest quality compliance engine, gain access to expert regulatory support services and enjoy pricing discounts.

Correspondent Customization

By including Lender Profile customization into Mavent’s Correspondent ACE, investors are able to create different profiles for its correspondents based on their licensing and charter authority. For instance, correspondent’s that are national banks can export rates and invoke permissible preemptions. Custom-tailoring compliance reviews to each correspondent’s lending authority, rather than applying the “lowest common denominator,” results in greater precision and profitability.

Investors have access to Mavent’s robust and flexible management reporting tool for all loans submitted by its correspondents and can also request dumps of correspondent loan data submitted to Mavent.

Correspondent ACE Program features:

  • Simple to navigate, web-based user-interface can be private-labeled
  • Correspondents can submit loan data via online web access, batch import or manual entry
  • Generates loan summary reports
  • Robust and flexible reporting is available on all correspondent loan activity
  • Allows you to modify data submitted by a correspondent based on the final loan documents
  • Regular data dumps of all correspondent loan activity available

Benefits of the Correspondent ACE Program

  • Results in better economics by providing all parties with greater certainty of execution
  • Improves loan quality and counter-party relationships
  • Reduces back-end diligence costs
  • Investor can benefit from Mavent’s Compliance Warranty

Correspondent ACE Program includes the following reviews:

  • Truth in Lending
  • HOEPA, State and Local High Cost
  • State Consumer Credit
  • License Type Verification
  • GSE Requirements
  • OFAC/SSN
  • Custom Correspondent Profiles
  • Investor-Specific Interpretations and Compliance Policies