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Xetus introduces loan management tool
PALO ALTO, Calif. (1/26/11)--Palo Alto, Calif.-based Xetus, has rolled out the XetusOne Loan Management System, which allows lenders to manage lending activity through a Web-based platform. A loan management system (LMS), unlike a standard loan origination system (LOS) allows for the comprehensive management of a loan--including origination, subordination or modification--throughout its lifecycle. Xetus President/CEO Scott Stein said a trend toward generalization has taken over the lending industry, with than 7,000 financial institutions experiencing nearly a 5% decrease in employees in the 12-month period leading up to September. Institutions holding less than $100 million in assets experienced a 16.5% cut. “Leaner, time-strapped banks and credit unions have been pressed into finding ways to manage more loans with fewer people, and XetusOne LMS delivers that capability,” Stein said. XetusOne tracks milestones, assigns tasks and sets conditions, helping users manage data, compliance auditing and state-specific documentation. The XetusOne platform also allows lending employees to use the same interface to review subordination requests, restructure mature home equity lines of credit, modify non-performing loans and analyze cash flow. With cloud-based Web capability, XetusOne allows multiple users to collaborate in real-time on the same file. Once a user enters a borrower’s data into the system, XetusOne auto-populates related fields.


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