Xetus Announces New Loan Management System

Xetus has announced the introduction of XetusOne Loan Management System (LMS), whose design and delivery allow lenders to conveniently manage loan activities through a Web-based platform. An LMS, unlike a standard loan origination system (LOS), is a new breed of LOS that allows for the comprehensive management of a loan—including origination, subordination or modification—throughout its lifecycle. The modern architecture of an LMS empowers lenders to transform their loan operations to address the realities of today’s lending environment. The efficiency of an LMS is a clear advantage in an industry undergoing a fundamental shift. More than 7,000 financial institutions experienced nearly a five percent decrease in employee numbers in the 12-month period leading up to September 2010, with those institutions holding less than $100 million in assets experiencing a 16.5 percent cut. “A trend toward generalization has overtaken the lending industry," said Xetus President and Chief Executive Officer Scott Stein. "Leaner, time-strapped banks and credit unions have been pressed into finding ways to manage more loans with fewer people, and XetusOne LMS overwhelmingly delivers that capability.” XetusOne’s intuitive workflow also enhances overall efficiency and ease-of-use. By tracking milestones, assignment of tasks and setting of conditions, users may depend on it to consistently manage data, compliance, audit trail and state-specific documentation. XetusOne’s platform enables lending employees who originated a loan to also review subordination requests, restructure mature HELOCs, mitigate losses by modifying non-performing loans and analyze cash flow for a proprietary, HAMP or 2MP loan modification. All these loan responsibilities are performed on the same user interface and Web-delivered software platform. For more information, visit www.xetus.com.