Xetus Mortgage Corp. of Palo Alto, Calif., said it has signed up two more small credit unions as users of its remote-delivery loan origination platform.
They are the $78 million Cleveland Selfreliance FCU of Parma, Ohio, and the $60 million Coloramo FCU of Grand Junction, Colo.
Both will be using the XetusOne software in a Software-as-a-Service model tough a Web browser and Internet connection and paying on a per-loan basis, the company said.
"Financial institutions are looking for ways to leverage technology to maintain customer satisfaction with fewer human resources. XetusOne’s Web-deployed architecture and per-loan pricing satisfy the most stringent IT regulations and business-profitability goals," said Scott Stein, Xetus’ vice president of sales and marketing.
Xetus has about 50 customers, about 35 of them credit unions, the company said, adding that it partners with major credit organizations, underwriting and selling entities, mortgage insurers and valuation and compliance providers.