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Mavent Inc. and QuestSoft Combine Forces to Offer Expanded Compliance Software Capabilities to Mortgage Lenders

Tighter Integration between Systems Significantly Streamlines Internal Processes for Lenders

IRVINE, Calif.--(BUSINESS WIRE)--09/02/2004-- Mavent Inc., a leading provider of automated compliance solutions for the financial services industry, announced a strategic partnership with Laguna Hills, Calif.-based QuestSoft, a premier provider of Home Mortgage Disclosure Act (HMDA) and Community Reinvestment Act (CRA) compliance solutions and geocoding services.

The partnership will enable the two companies to offer improved system integration and a more extensive collection of compliance-related products and services to the mortgage industry. This will eliminate the need for customers of Mavent and QuestSoft to perform data re-entry and manual manipulation of information between different fields, enabling them to save time, improve workflow and allocate resources elsewhere within the organization.

As a result of this partnership, QuestSoft will market Mavent's rules-based enterprise application as part of a comprehensive front-end compliance solution that identifies regulatory exceptions throughout the origination life cycle for improved loan quality. This new electronic compliance suite provides up-to-the-second compliance with current federal, state and local regulations in effect at the time of the request and will integrate with new XML versions of QuestSoft's popular HMDA, CRA, Geocoding and Flood Determination services.

"Our strategic partnership with Mavent provides a more expansive and streamlined product offering that is fully automated and integrated to all of our clients," said Leonard Ryan, president of QuestSoft. "The intrinsic value of additional product features and the ability to fully integrate into more than 22 loan origination system (LOS) interfaces benefits lenders, because it enables them to move up their compliance risk management function earlier in the process and more effectively meet regulatory requirements within the ever-changing legislative landscape."

"The risk of non-compliance is a serious concern for mortgage lenders and LOS providers," said Tim Green, CEO of Mavent. "This partnership will allow our two companies' industry expertise to enhance our product offering and strengthen our customers' compliance practices."

About QuestSoft
Laguna Hills, Calif.-based QuestSoft is a compliance software development firm specializing in the Home Mortgage Disclosure Act (HMDA), Community Reinvestment Act (CRA), flood determination and other settlement services to more than 1,100 banks, credit unions and mortgage companies nationwide. The company provides software design, compliance-quality geocoding and outsourcing services that are backed by 16 years of direct mortgage software and origination experience. In addition, the company has received recognition for its many technological accomplishments.

For more information about QuestSoft and its products, visit the company's Web site at www.questsoft.com.

About Mavent, Inc.
Mavent, Inc. is a leading provider of automated compliance solutions for the financial services industry. Mavent, founded in 1999, is the developer of the Mavent Expert System (patents pending). The initial product developed with the Mavent Expert System is a rules-based enterprise application that provides the residential mortgage industry with the industry's most comprehensive consumer credit knowledgebase, enabling leading lenders to more efficiently and effectively comply with federal, state and local consumer lending laws, rules and regulations. The Mavent Expert System has conducted more than 4 million compliance reviews to date. The company is headquartered in Irvine, Calif., with an office in New York. Mavent Inc. is SAS 70 certified by Ernst and Young LLP and is financially backed by Financial Technology Ventures (FTVentures).

For more information on Mavent, contact Louis Pizante, vice president, Sales and Strategy at 949-474-4732 or visit the company Web site at www.mavent.com.

CONTACT:
For Mavent, Inc., Irvine Cristi Nicholson, 678/781-7208

or

For QuestSoft Elizabeth Salter, 678/781-7224

SOURCE: Mavent, Inc.

09/02/2004 09:01 EASTERN