Skip to main content

Xetus releases new extension to loan management platform

NationalMortgageProfessional.com
Jun 03, 2010

Xetus has announced the addition of a new module to XetusOne, a Web-based loan management platform. The new features enable lenders to analyze risk and mitigate losses when making decisions on loan modifications and HELOC extensions. Lenders’ need for these unique capabilities is urgent, as they experience an unprecedented number of loan modification requests from borrowers in need of payment relief. This growing trend is expected to persist for at least the next three to five years as depressed home values, high unemployment rates, and tightened credit conditions continue to linger. According to estimates, more than $1 trillion of ARMs will reset from 2010 to 2012. Bank of America added 24,000 borrowers to its ranks of Home Affordable Mortgage Program (HAMP) loan modifications in April--a figure that doubled the company’s previous all-time high from one month earlier. “With this new module, clients continue to receive the superior, collaborative qualities of XetusOne’s framework," said Scott Stein, Xetus’ vice president of sales and marketing. "Its expanded risk analysis features are unique because they give lenders the tools to efficiently restructure debt and modify loans—including standard modifications, HAMP and 2MP modifications, and HELOC extensions." Moreover, because the new capabilities are available as a standalone application, any lender not already using XetusOne can utilize just this specific set of features on a per-loan pricing basis. The addition of XetusOne to a lender’s existing workflow requires little effort because XetusOne’s SaaS capability allows the lender to access the service through an Internet browser. “Lenders have immediate access to XetusOne because there is no special software to install or maintain,” said Stein. “They are immediately able to turn what is typically a very paper-intensive process into a paperless one.” XetusOne’s architecture allows straightforward integration with the lender’s legacy servicing platform, providing the data to be used by XetusOne in making its determinations. These automatic determinations allow effortless re-examinations of financial risk, minimizing exposure in a fluctuating market by identifying situations where either a short-term or long-term modification makes sense. For more information, visit www.xetus.com.
Published
Jun 03, 2010
KBRA Assigns Preliminary Ratings To SEMT 2021-6

Pool Of 497 First-Lien Loans Combined Have A Principal Balance Of Nearly $449M

Industry News
Sep 16, 2021
Fugo Appoints Bahlman As VP, Client Relations & Sales

Brings 19 Years of Experience To Texas-Based Back-Office Support Company

Industry News
Sep 16, 2021
Envoy Mortgage Expands To Atlanta

Envoy Mortgage lender expanded its Southeast operations to Atlanta, GA.

Industry News
Sep 15, 2021
FHFA Suspends Controversial PSPA Amendments

Today, the FHFA will be suspending controversial provisions added to the Preferred Stock Purchase Agreement (PSPA) on January 14, 2021.

Industry News
Sep 15, 2021
Covius Holdings To Acquire Nationwide Title Clearing

All 670 NTC Employees, Including Senior Management, Will Join Covius

Industry News
Sep 14, 2021
MBA Appoints AVP Of Diversity, Equity, & Inclusion

Promotes Amber Lawrence From Position As Associate Director Of Career Development Programs

Industry News
Sep 14, 2021