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.
ST. PETERSBURG, Fla. (1/26/11)--The Credit Union Risk Council (CURC) has unveiled a new website. The website provides credit unions with information, resources, and a connection channel for federal law enforcement regarding risk associated with card products. It also contains an interactive forum for exclusive use by staff members at credit unions, federal law enforcement agencies and Visa and MasterCard companies. The new CURC website is the first to provide federal law enforcement with a secured resource to connect with credit unions in support of investigative efforts. The site provides credit unions with a single source for news, articles and information pertaining to risk in the card business. The Credit Union Risk Council was formed in 2008 to address the topic of risk management from the unique perspective of credit unions. Council members work together in a spirit of cooperation to act as advocates for credit unions and to create industry solutions specifically designed for credit unions. Participating institutions are: Card Services for Credit Unions, Credit Union Card Center, Credit Union 24, CUNA Mutual Group, Jack Henry & Associates, The Members Group, Pennsylvania State Employees Credit Union, PSCU Financial Services and TNB Card Services. Advisory participants include: the FBI, MasterCard, U.S. Postal Inspection Service, U.S. Secret Service and Visa.