Jaguar Group wanted a due diligence tool to complement the Section 32 loan review capabilities of its existing document system. Now, every loan Jaguar Group purchases passes through Mavent Compliance Console (MC2) before it is purchased and resold.
With MC2, mortgage professionals can submit loan data on a manual, batch or combined basis to the Mavent Expert System. Clients can also integrate Mavent into their LOS for real-time processing of loan data.
Karen Ward, compliance manager for Jaguar Group, said: When somebody submits a loan to us for purchase we run a Mavent review on it before we will even give them an answer. If they present their preliminary documentation to us and it doesn’t pass all phases, we just tell them it needs to be brought into compliance before we can purchase it.
Louis Pizante, CEO of Mavent, added: Compliance is a business requirement for Jaguar, its clients and its investors. Therefore, Jaguar invested the time and effort to examine various compliance control options and came to appreciate the differences in quality. Mavent provides them with confidence that the loans they buy and sell are compliant and does so in a manner that is neither cost nor time prohibitive.
