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Mavent Inc.
 Reviews / Baseline Compliance Reviews / State Consumer Credit Law
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State Consumer Credit Law

Mavent applies requirements of over 300 US state laws for consumer residential mortgage loans secured by real property as these laws relate to such issues as:

  • Usury Rate Ceilings Percentage Caps
  • Prohibited Fees
  • Fee Percentage or Dollar Amount Limits
  • Prepayment Penalty Prohibitions and Limitations
  • Late Fee Dollar Amount Limits and Length of Late Fee Grace Periods
  • Interest Accrual Start Dates
  • Negative Amortization Prohibitions
  • Balloon Payment Prohibitions or Term Limitations
  • Payment and Term Limitations

Mavent applies preemptions, as appropriate, under the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA) and the Alternate Mortgage Transactions Parity Act (AMTPA). Additionally, for loans identified as high-cost loans by the HOEPA & High Costs review, Mavent will further compare the applicable loan data to requirements of jurisdiction specific, anti-predatory lending rules. Historical rules, indices and information for state laws are preserved to enable retrospective quality control auditing.