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Mavent Receives $10 Million Commitment Led by FTVentures

September 25, 2006
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IRVINE, Calif. --(Business Wire)-- Mavent, the leading provider of automated compliance solutions for the financial services industry, announced today the completion of a $10 million round of financing led by FTVentures, a private equity firm focused on business services and software companies that benefit the global financial services industry.



This most recent round of financing is a result of Mavent's strong industry presence and will support growth opportunities including continuing product development and the rollout of yet unannounced customers. The financing brings total institutional investment in the Company to $25 million. Since its inception, Mavent has signed multi-year agreements with many of the industry's largest originators and purchasers of mortgages including Fannie Mae, Credit Suisse, UBS, National City Mortgage Corp., Ohio Savings Bank, HomeLoanCenter (a division of Lending Tree), Ocwen Financial Corp., and GreenPoint Mortgage Funding.

"Over the last three years, Mavent has emerged as the leader in providing solutions for managing regulatory risk in the mortgage industry," said Bob Huret, founding partner at FTVentures and Mavent chairman of the board. "Mavent's proven solutions have helped create cost-efficiencies and process improvements for leading mortgage lenders. This investment reflects our continuing confidence in Mavent and the team's ability to capitalize on expansion opportunities."

"FTVentures is far more than a financial backer to Mavent," said Louis Pizante, chief executive officer of Mavent. "FTVentures' expertise and industry relationships have helped Mavent to accelerate and manage our growth. This latest transaction allows us to continue to innovate and provide exceptional value to our clients."

About Mavent Inc.

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, prepayment penalties, and late fees; 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 FTVentures

FTVentures provides capital to growth companies to finance organic expansion, recapitalizations, build-ups and buyouts. The firm invests in software and business services companies that derive value from its unmatched Global Partner Network, which includes 38 of the world's leading financial institutions. FTVentures' Global Partner Network provides the firm with a unique vantage point into the business driven IT and operating challenges of the global enterprise. Founded in 1998, FTVentures currently has $624 million under management with offices in San Francisco and New York. For more information, please visit www.ftventures.com.


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