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Ellie Mae acquires Mavent for automated compliance service
PLEASANTON, Calif. (12/18/09)--Ellie Mae, a software and service provider for credit unions, banks and mortgage brokers, said it has acquired Mavent Inc., which provides automated compliance solutions for the mortgage industry. Mavent’s automated compliance solutions will be available as an integrated service for users of Ellie Mae’s Encompass360 Mortgage Management System to ensure that all loans originated by Encompass users are compliant with all applicable rules and regulations. Current Mavent business relationships will stay intact, the companies said in a release. Ellie Mae plans to retain Mavent personnel, who handle product, legal and development operations. The company will remain in Irvine, Calif. Among Mavent’s technology users are Fannie Mae and five of the nation’s 10 largest mortgage lenders.


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