Sign In
​JACKSONVILLE, Fla. – June 7, 2011 – Lender Processing Services, Inc. (LPS) today introduced the Loan Quality Gateway™, powered by RealEC, (LQ Gateway), which is designed to address the industry’s need for a comprehensive platform to support loan quality programs. With the sweeping GSE and FHFA Loan Quality Initiatives (LQI) introduced last year, and additional loan quality requirements anticipated from the private and institutional investment community, the LQ Gateway offers a proven, scalable technology platform that enables both efficiency and compliance with all investor, lender and service provider loan quality requirements. 
 
Built upon RealEC’s market-leading technology, the LQ Gateway is an open platform in which all parties can leverage the foundation and capabilities of a 24/7 data exchange that is already connected to a vast majority of the industry’s service and solution providers.  The LQ Gateway components provide the integrations, data management, decisioning and workflow management required for current and emerging loan quality programs.  It is integrated with data validation products as well as value-added tools such as appraisal evaluation, AVMs and a variety of settlement services products to reduce errors and streamline processes.  In addition, the LQ Gateway will have the capability to deliver both collateral and loan delivery datasets to meet the GSEs’ requirements.
 
One example of how the LQ Gateway provides value is that it enables lenders to shift quality control activities from the post-closing phase of the mortgage process to pre-delivery, helping to ensure that investor requirements are met before the mortgage loan is funded.  This allows lenders to reduce the occurrences of loan repurchase requests due the verification of loan data earlier in the origination process, while saving on time, resources and costs.
 
“Underwriting high-quality mortgage loans that meet the unique requirements of each investor and comply with all regulatory provisions is essential to the recovery of the housing market and to ensuring that homeowners obtain mortgage loans that are a good fit for their circumstances,” said Dan Sogorka, president of LPS RealEC. “The LQ Gateway offers the benefits of a mature, market-tested solution that enables lenders to strengthen their ability to originate higher quality loans and dramatically reduce repurchase requests.”
 

About Lender Processing Services

Lender Processing Services, Inc. (LPS) is a leading provider of integrated technology, services and mortgage performance data and analytics to the mortgage and real estate industries. LPS offers solutions that span the mortgage continuum, including lead generation, origination, servicing, workflow automation (Desktop®), portfolio retention and default, augmented by the company's award-winning customer support and professional services. Approximately 50 percent of all U.S. mortgages by dollar volume are serviced using LPS' Mortgage Servicing Package (MSP). LPS also offers proprietary mortgage and real estate data and analytics for the mortgage and capital markets industries. For more information about LPS, visit www.lpsvcs.com.

Investor Contact:
Parag Bhansali, 904.854.8640, parag.bhansali@lpsvcs.com
Media Contact: Michelle Kersch, 904.854.5043, michelle.kersch@lpsvcs.com
Facebook Google+ LinkedIn Twitter YouTube Wikipedia