News
February 1, 2007

Metavante Introduces Consumer Loan Origination System

MILWAUKEE, Feb. 1, 2007 — Metavante Corporation, the banking and payments technology subsidiary of Marshall & Ilsley Corporation (NYSE: MI), today introduced a new product, the Consumer Loan Origination System (CLOS). The new CLOS enables lenders to support all of their consumer and personal loans on one integrated platform. The CLOS is a licensed solution that supports a wide array of loan types – including Home Equity, HELOC (home equity lines of credit), auto, recreational vehicle, secured and unsecured.  

The CLOS is a web–based, stand–alone solution that streamlines consumer loan processing by accessing customer relationship data from a lender’s core banking system and additional data from external sources, such as credit bureaus. The system then incorporates credit policy and business rules to generate consistent, fast and accurate decisions on borrower applications. The product is designed for lenders to increase their loan origination capacity, efficiency and profitability, while significantly reducing operational costs.

The CLOS also works in tandem with Metavante’s Mortgage LOS. Both products are provided as licensed solutions by GHR Systems, Inc., a Metavante Lending Solution. Clients that use both products obtain an integrated single platform to support their entire mortgage and consumer loan origination business. Clients can install and host the software application on their own computer servers or have GHR host the application.

A variety of interfaces are available with the CLOS, including a two-way interface to Metavante’s Bankway software and a connection to Metavante’s TREEV image management systems. Other available interfaces include credit reporting, VMP loan documents, FannieMae’s DU, FreddieMac’s LP, Sherman’s credit insurance service, home equity origination and settlement services including AVM, appraisal, flood and title insurance, Swiftsend’s secure document delivery and geo-coding.

“The CLOS provides lenders with comprehensive automated functionality for all types of consumer loans,” said Cy Brinn, president of GHR Systems, a Metavante Lending Solution. “With CLOS, lenders will reduce the costs and turn-around time of the loan origination process, saving money and improving customer service levels. This product captures the loan information, calculates ratios, and evaluates the credit bureau automatically to make the decision process fast and consistent. CLOS is geared for lenders ranging from start–ups to lenders originating up to 1,000 consumer loans per month. Lenders using manual or semi–automated systems, and systems that are not web–based, will benefit from this system and gain additional efficiencies by being able to  compute credit insurance calculations, automate decisioning and produce documents with CLOS,” Brinn added.

The CLOS platform supports lenders originating loans centrally, via call centers, and from branch or remote offices.  

Metavante Lending Solutions provides technology and service solutions for mortgage, home equity, consumer and indirect retail finance loan origination. Lending solutions are provided for point–of–sale origination, processing, closing, automated underwriting, decisioning, and business process management, as well as processing, settlement and document generation services. Metavante’s lending solutions are used to better market, sell, process, and close loans through all distribution channels, including retail, wholesale, internet, and correspondent. Metavante Lending Solutions helps clients of all sizes, from community banks to the top financial institutions in North America, including six of the top 20 U.S. mortgage lenders.

About Metavante
Metavante Corporation delivers banking and payments technologies to financial services firms and businesses worldwide. Metavante products and services drive account processing for deposit, loan and trust systems, image-based and conventional check processing, electronic funds transfer, consumer healthcare payments, electronic presentment and payment, and business transformation services. Headquartered in Milwaukee, Metavante (www.metavante.com) is wholly owned by Marshall & Ilsley Corporation (NYSE: MI).

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Metavante and Bankway are registered trademarks of Metavante Corporation.

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