Lenders to Handle 1.5M Maturing LOCs Per Year

Lenders will handle an estimated 1.5 million maturing lines of credit per year in the next several years, Scott Stein, Xetus president and CEO, said in a press release.

About $11 billion in LOCs reached maturity last year and that number will grow exponential to $111 billion in 2018, according to Xetus, which has introduced an automated maturing line of credit management platform and Web portal to help address the trend.

Stein reiterated the need for automation to re-examine maturing LOCs given pending Consumer Financial Protection Bureau regulatory requirements.