JACKSONVILLE, Fla. – (October 16, 2008) – Lender Processing Services, Inc. (LPS), a leading provider of integrated technology and services to the mortgage industry, today introduced Proactive Risk Management, a tool that seamlessly integrates with a lender’s existing servicing and banking systems, as well as enterprise credit risk models, analytics and data tools. Proactive Risk Management helps lenders proactively mitigate losses with borrowers who have a high probability of becoming delinquent in their mortgage payments.
This sophisticated solution connects borrower data across all lending lines and assesses borrower risk in real time, using existing models or credit scoring. By immediately identifying at-risk borrowers, servicers can react and deliver targeted risk management and loss mitigation recommendations, based on the lender’s or servicer’s parameters, through any communication channel, including call center, IVR and Web site.
“The current economic environment demands innovative solutions to new complex challenges, and lenders need to proactively identify and reach out to at-risk borrowers earlier than ever before,” said Dan Scheuble, co-chief operating officer of LPS. “Our proactive risk management capability gives lenders an innovative mechanism to do just that. This tool enables them to analyze the risk a borrower presents to the organization and act upon it every time the institution is in contact with the borrower.”
The solution is delivered in a hosted environment and built using a Web services architecture, which makes it easy to deploy quickly. The solution can be implemented and begin providing risk management recommendations within 90 days, allowing servicers near-term relief from the current market pressures.
“Financial institutions need to assess risk across varying product infrastructures and take action early to survive in today’s chaotic environment,” said Grace Brasington, executive vice president of LPS’ Strategic Consulting group. “Proactive Risk Management provides an enterprise view of customer risk coupled with the ability to take early action with customers at risk, capabilities that are critical in today’s market. This solution provides our servicing partners with further support for their loss mitigation strategies as early in the delinquency stage as possible. It is a win-win for everyone involved.”
About Lender Processing Services
LPS is a leading provider of integrated technology and services to the mortgage industry. LPS offers solutions that span the mortgage continuum, including lead generation, origination, servicing, portfolio retention, risk management and default, augmented by the company's award-winning customer support and professional services. Approximately 50 percent of all U.S. mortgages are serviced using LPS' MSP. In fact, many of the nation's top servicers rely on MSP, including seven of the top 10 and 16 of the top 20. LPS also offers proprietary mortgage and real estate data and analytics for the mortgage and capital markets industries. For more information about LPS, please visit www.lpsvcs.com.
Media Contact: Michelle Kersch, 904.854.5043, michelle.kersch@lpsvcs.com
Investor Contact: Parag Bhansali, 904.854.8640, parag.bhansali@lpsvcs.com