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Mavent Appoints Kenneth C. Taylor as Chief Technology Officer; Technology Veteran to Lead Development Efforts of Top Automated Compliance Solutions ProviderIRVINE, Calif. --(Business Wire)-- June 5, 2006 -- Mavent Inc., a leading provider of automated compliance solutions for the financial services industry, has added technology industry veteran Kenneth C. Taylor as senior vice president, chief technology officer (CTO). In this role, Taylor is responsible for leading the development, integration and help desk teams for Mavent's Expert Systems, rules-based enterprise applications developed specifically to ensure the rapid origination and purchase of quality-compliant residential mortgage loans. Additionally, he will lead technology deployment, application enhancements, and enterprise resource planning (ERP) systems. Taylor brings to Mavent more than 20 years experience in information technology, specializing in the mortgage and finance industries. Prior to joining Mavent, he served as senior vice president and chief information officer (CIO) of Orange, Calif.-based Argent Mortgage Company, LLC. As CIO, he oversaw the company's business systems, including loan origination, sales, and customer relationship management. Before Argent, Taylor was CIO for El Dorado Hills, Calif.-based DST Output Inc., a provider of integrated print-and-electronic billing, customer care, and customer communications solutions to financial services, communications, insurance, healthcare, and utilities companies. In that capacity, he was responsible for all product development, implementations, and customer support for the electronic commerce business unit. He also held similar positions at USCS International, NEC and Nestle USA. "We are very pleased Ken has joined the Mavent team," said Ed Stevens, CIO of Mavent. "He is a perfect fit for this important role with the company. Ken is an extremely well qualified leader and decision maker who recognizes the significance of our products to the financial services industry." "Ken Taylor is well-known and well-respected in the financial services industry for both his knowledge of technology and his leadership of significant organizations," said Tim Green, CEO of Mavent. "We expect him to be a driving force for innovation and creativity at Mavent as well as the industries we serve." Taylor holds a B.A. in economics and an M.B.A. in operations and marketing from Brigham Young University in Provo, Utah and a doctorate in business administration from California Coast University in Santa Ana, Calif. He is a certified master black belt in Six Sigma and holds a certification in Design for Six Sigma. Ken is also a certified project manager (PMP) and holds a certification in production and inventory control (CPIM). About Mavent Mavent Inc. is a leading provider of automated compliance solutions for the mortgage industry. Mavent, founded in 1999, 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. The solution's review functions include: loan level lender and broker license reviews; state consumer credit laws relating to such terms as usury, fee restrictions, prepayment penalties, and late fees; Home Mortgage Disclosure Act; Truth in Lending Act; Office of Foreign Asset Control; and, investor program requirements, such as an accurate Fannie Mae points and fees threshold test. The Mavent Expert System is supported by a growing network of law firms, including such prominent firms as Hudson Cook and Reed Smith. Mavent's outside counsel has approved each rule in the Mavent Expert System. The legal rules are identified and explained in approximately 7,000 pages of detailed legal rules documentation. The Mavent Expert System has conducted more than 12 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 Corporation, Credit Suisse First Boston, GreenPoint Mortgage and LendingTree Loans. For more information on Mavent, contact Louis Pizante, senior vice president of Sales at 949-474-4732 or visit the company Web site at www.mavent.com. |
