Gallagher Financial Systems and Mavent Inc.
Form Strategic Partnership

Enterprise loan origination system seamlessly integrates leading
automated compliance vendor to provide mitigation of rapidly changing lending laws

Brentwood, TN - Gallagher Financial Systems, Inc. (GFS), a leader in enterprise loan origination system technology, and Mavent Inc., Irvine, Calif., a leading provider of automated compliance solutions for the financial services industry, have formed a strategic alliance to seamlessly integrate the Mavent Expert System with NetOxygen, Gallagher’s leading service-oriented platform.

The combined service provides NetOxygen customers with a real-time, interactive compliance solution that accelerates production while enhancing quality. Prior to funding, lenders can review every loan in their production pipeline for compliance with applicable federal, state and local lending laws, as well as custom institutionally-mandated compliance policies.

Unlike some combined services that rely on batch file imports or partial interfaces, Mavent’s compliance reviews are fully integrated into the workflow processes of NetOxygen. Mavent collects and processes electronic loan data received through NetOxygen. In seconds, the data is run against the Mavent rules as defined by the clients’ legally permissible options and returned through the NetOxygen interface for consistent application and accurate reviews.

If exceptions are found, stops can be put in place to prevent funding non-compliant loans until the user takes corrective action; if no exceptions are found, the end-user never needs to know the review has been processed. This seamless process results in highly customizable compliance services that support, complement and leverage the institution’s internal compliance resources without burdening production. Any modifications required to make the loan compliant are made in NetOxygen so all data remains in one system of record.

GFS is one of the nation's largest residential loan origination system providers. Its NetOxygen system allows lenders to easily create a business rules knowledge base that provides automated calculations and auditing capabilities throughout the life of the loan. Each loan is monitored from the beginning so that the quality control process is in place from the moment the loan is created. Since NetOxygen is a fully Web-enabled origination system, users can then check status of their loans at any time or any place via the Internet. This allows for a near paperless production environment that is online, real time, and not dependent on "brick and mortar" locations.

"The combination of NetOxygen’s powerful rules engine in conjunction with the Mavent Expert System provides the lender a comprehensive residential mortgage solution that mitigates a multitude of risks due to quality audits which are often left to manual processes today,”said Chris Anderson, president of Gallagher Financial Systems. “This provides a win-win situation in all respects, especially for the lending community who now have the ability to control the quality of their product and increase franchise value."

"Gallagher’s NetOxygen is driving the major productivity advance in a mortgage industry competing on the basis of speed, pull-through and increasingly global operations,” said Louis Pizante, Mavent’s CEO. “Our service centralizes and accelerates compliance risk management, reducing origination costs and repurchase risk. NetOxygen clients will easily translate this combined service into competitive advantage while enhancing their reputations as responsible lenders."

Contact
Joey McDuffee
Vice President, Sales and Marketing
Gallagher Financial Systems
1.800.989.9996 or 615.221.7358

About Mavent
Mavent Inc. is a leading provider of automated compliance solutions for the mortgage industry. Mavent, incorporated in 2000, 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. Mavent’s review functions include aspects of the Truth In Lending Act; HOEPA, state and local high cost reviews; loan level lender and broker license reviews; state consumer credit laws relating to such terms as usury, fee restrictions and prohibitions, prepayment penalties, late fees, and loan term and payment limitations; certain requirements of the Home Mortgage Disclosure Act; the Office of Foreign Asset Control; and, investor program requirements, such as an accurate Fannie Mae points and fees threshold test. Mavent can also implement custom business rules for its clients. The Mavent Expert System is supported by a growing network of law firms (including such prominent firms as Hudson Cook) who approve each of the nearly 7,000 pages of rules documentation that supports the Mavent Expert System.

The Mavent Expert System has conducted more than 15 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 Corp., Credit Suisse, GreenPoint Mortgage and HomeLoanCenter (a division of LendingTree). For more information on Mavent, contact Louis Pizante, chief executive officer at 949.474.4732 or visit the company Web site at www.mavent.com.

About Gallagher Financial Systems
Founded in 1985, Gallagher Financial Systems is one of the nation's largest residential loan origination systems providers. Headquartered in South Miami, Fla., with its national operations center in Brentwood, Tenn., GFS has more than 160 professionals located throughout the U. S. and abroad. The company provides flexible, scalable, web services-based loan origination and decisioning solutions for both the mortgage and consumer lending industries. Its product suite includes Gallagher NetOxygen, a web-based Enterprise Lending Platform (for Internet-enabled technology needs), Enterprise Manager, and NetOxygen Studio. For more information about Gallagher or its products, visit www.gogallagher.com.