JACKSONVILLE, Fla. – February 27, 2012 – Lender Processing Services, Inc. (NYSE: LPS), a leading provider of integrated technology, services, data and analytics to the mortgage and real estate industries, today announced that its LSI Title Division is extending its Streamlined Settlement solution to help lenders meet the Home Affordable Refinance Program (HARP) 2.0 agency program guidelines.
“Since 2009, LSI has been the leading provider of technology that enables lenders to quickly and efficiently close HARP loans utilizing LSI’s proprietary AQUASM title production platform,” said Ron Frazier, president of LPS’ LSI Title Division. “The combination of LSI’s settlement workflow and proven Web-based closing platform, ClosingStreamSM, has enabled LSI to close a majority of all HARP loans processed in 2010 and 2011.”
LPS has been at the forefront of providing technology that helps lenders and servicers implement HARP requirements, with functionality that enhances performance, including 3-5 day subordination turn times and improved closing rates, while also reducing settlement and processing costs.
“We are proud that our Streamlined Settlement technology was used to help so many borrowers refinance in the HARP program,” said Al Verkuylen, Title Executive, LPS’ LSI Title Division. “With an expanded focus on HARP 2.0, we expect to continue supporting our customers through our best-in-class technology and services, which leads directly to improved opportunities for homeowners.”
Additionally, LPS’ core servicing technology, MSP, can identify which loans are eligible for HARP 2.0, present the loan-to-value ratio to the servicer, show if a property is owner-occupied and provide origination data.
For more details about LSI’s Streamlined Settlement Program for HARP 2.0, click here
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, 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’ loan servicing platform, 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