JACKSONVILLE, Fla. – (October 20, 2008) – Lender Processing Services, Inc. (LPS), a leading provider of integrated technology and services to the mortgage industry, today announced the launch of Neighborhood Outlook™, a robust, easy-to-follow report that provides forecasts of value, as well as delinquency and inventory trends for the immediate neighborhood surrounding a specified property. This tool will help servicers identify and mitigate potential mortgage delinquencies before they begin.
“The continuing increase in mortgage defaults, foreclosures and REO inventories demand the origination, capital markets and servicing industries use more detailed information about properties and localized market trends in their decision making,” said Jon Davis, managing director of LPS Applied Analytics’ Valuation Solutions group. “A nationwide trend might not always prove true for a specific neighborhood. In fact, frequently, there are significant variances from nationwide and even regional trends. Neighborhood Outlook enables us to drill down to the neighborhood level to understand a property’s current value and its likely direction in the near future.”
Neighborhood Outlook is a unique tool that leverages LPS’ analytics models to predict housing supply, delinquencies and foreclosures in the near term for a neighborhood. This is then combined with information from LPS’ extensive deed and assessment database, including recent sales, non-sales and listing cancellations, and REO sales information for the same neighborhood. With this, an accurate current price and near-term price can be determined.
“Neighborhood Outlook provides granular information on a particular property and the realities of that local environment to help guide decision making and risk management strategies for originators, capital markets professionals and servicers,” said Davis.
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