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Exeter Expands Use of CMSI's Credit Processing Solution

February 11, 2009

COLUMBIA, Md. — Credit Management Solutions (CMSI), provider of credit automation systems for all types of consumer lending, announced today that Exeter Finance Corp. has expanded its use of CMSI's Origenate credit processing system to support the growth of its auto lending enterprise.

Irving, Texas-based Exeter is a specialty auto finance company serving select franchise dealers throughout the United States. After an extensive search that involved reviewing several credit systems, Exeter selected Origenate to support their indirect auto finance business model.

"We chose to partner with CMSI because they offered a high performance, flexible solution, and they could get us up and running quickly and add incremental functionality on our timetable," said Exeter COO Richard Frunzi.

CMSI's solution was designed to automate the entire indirect loan origination process, beginning with receipt of applications from automobile dealers and moving through retrieval of credit reports, scoring applications, return of decisions to the originating dealers and loan booking. Part of Exeter's unique requirements for electronic contract processing involved the creation of sophisticated custom verification screens. CMSI and Exeter worked together to develop these screens and other tailored workflow processes.

According to Frunzi, CMSI provided the combination of industry knowledge and system functionality Exeter needed to accommodate their business model and growth plans. "From the president on down, they're a great company to work with," he said.

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