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Lending / The Ticker

Lending software provider Xetus reports 136% increase in revenue

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Lending software provider Xetus finished the year strong with a 136% increase in revenue year-over-year and expects the growth to continue throughout 2013.

The company is actively expanding its engineering and support personnel and is also promoting its XetusOne Loan Management Platform, which includes two new applications featuring subordination request and line of credit renewal web portals.

Xetus recently expanded its office space four-fold by relocating its headquarters to Santa Clara, Calif., anticipating an upcoming demand for the expanding suite of XetusOne Loan Management Platform Applications.

Scott Stein, president and chief executive officer of Xetus, says the company’s growth reflects its acute understanding of mortgage industry movements.

“Faced with the industry trend of mergers and acquisitions of recent years as well as a rising tide of LOC maturity dates, lenders must seek tools that promote profitability and offer sound underwriting without compromising customer service,” Stein said.

“XetusOne’s subordination portal accelerates the approval process without compromising underwriting standards, while the LOC renewal portal provides a reliable tool to initiate and handle renewals without alienating customers and risking flight to competitors. Both applications offer sure, competitive advantages.”

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