JACKSONVILLE, Fla. – (February 18, 2009) – Lender Processing Services, Inc. (LPS), a leading provider of integrated technology and services to the mortgage industry, today announced the launch of Lien Advisor, a full-service, end-to-end lien monitoring program that provides greater visibility for the mortgage industry into its borrower or loan-related events that can increase loan risk. Lien Advisor also enables first and subordinate lien holders to determine and proactively defend their equity positions.
Leveraging LPS’ robust databases of real estate and public records information, Lien Advisor provides ongoing, online monitoring of specific loans, portfolios or lien positions to alert clients about foreclosure/default activity, tax delinquencies, bankruptcies, ARM resets and other important indicators that could impact loan or borrower status. Proactively monitoring these activities helps lenders and servicers take appropriate action, such as loan modifications, to prevent losses and maximize their assets’ net present value.
In addition to ongoing monitoring, Lien Advisor offers options for on-demand lien monitoring for single properties or loan portfolios. When alerts are sent on properties with one or more key lien indicators, a full report is generated for each property.
“Lien Advisor expands a servicers’ ability to understand what is going on with the loans in their portfolios, which enables them to protect their assets, address negative loan-related issues before they escalate and enhance lead generation,” said Ray Ferrarin, managing director, LPS Applied Analytics. “We’re excited to offer a customizable, interactive solution to improve a servicers’ ability to respond to competitive pressures and help keep homeowners in their homes.”
Lien Advisor also offers a fulfillment service for home equity lenders that leverages LPS’ extensive analytics to determine asset equity position and senior lien foreclosure monitoring to protect home equity lenders against future losses in their core portfolio. As part of this service, LPS will monitor key senior foreclosure milestones and coordinate post-sale activities on the subordinate lien holder’s behalf, including ensuring that local counsel selected by the subordinate lien holder bids at the senior foreclosure sale and collects any surplus funds on their behalf.
“The current mortgage environment demands that servicers and lenders use customizable, leading-edge tools to both protect and grow their businesses,” said Rick Snoke, vice president, LPS Default Solutions. “Lien Advisor is a powerful tool to help them mitigate loan losses and take timely action at the first sign of a potential risk.”
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