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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 340 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
  • Higher-Rate, Higher-Risk, Higher-Priced, Subprime, Nonprime, and Rate Spread Loans (see below)
  • 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

State Higher Rate Mortgages

Mavent analyzes loans for compliance with state laws and regulations governing higher-rate, higher-risk, higher-priced, subprime, nonprime, and rate spread and similarly classified loans. Mavent will identify loans that trigger the applicable threshold and are otherwise defined in state higher rate mortgages. Mavent will determine compliance with critical aspects of higher rate mortgage regulations, including provisions relating to:

  • Disclosures
  • Foreclosure
  • Predatory Practices
  • Assignee Liability

Lender Profile

Mavent's Lender Profile allows clients to configure each line of business to take advantage of permissible elections, including federal preemption and rate exportation. Mavent also applies preemptions, as appropriate, under the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA) and the Alternate Mortgage Transactions Parity Act (AMTPA). Historical rules, indices and information for state laws are preserved to enable retrospective quality control auditing.