JACKSONVILLE, Fla. – October 12, 2009 – Lender Processing Services, Inc. (NYSE: LPS), a leading provider of integrated technology and services to the mortgage and real estate industries, announced the availability of its new automated property valuation model, LPS AVM, to assist the mortgage industry in establishing and verifying property values for underwriting, quality control and due diligence.
LPS has combined its rich public records data, analytics and modeling resources with its proven valuation experience to deliver a thorough automated valuation report via LPS AVM. The report, which delivers increased hit rates and improved accuracy, will include a value estimate; up to 10 comparable sales listings with a location map; a statistical confidence interval band; a history of subject property transactions and finance activity; and regional price trends.
“LPS AVM is powered by our robust public records database and multiple valuation modeling methodologies, and is complemented by ongoing quality control and reliable customer service. However, we offer mortgage bankers far more than an AVM,” said Nima Nattagh, Ph.D., senior vice president, LPS Applied Analytics. “In addition to our suite of AVMs and a cascade interface, LPS is also a leading provider of desktop and field valuations. The extensive collateral valuation expertise offered by our modelers and developers enables LPS to partner with lenders, servicers and capital market professionals to determine the right products at the right points in the collateral valuation process.”
Data source:
LPS Applied Analytics collects and compiles real estate public records data directly from the county assessor and recorder offices in jurisdictions that cover 89 percent of U.S. residential market activity. The database describes property characteristics, ownership change, sales and financing data.
About Lender Processing Services
Lender Processing Services, Inc. (LPS) is a leading provider of integrated technology and services 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 volume are serviced using LPS’ Mortgage Servicing Package (MSP). In fact, many of the nation's top servicers rely on MSP, including eight of the top 10 and 14 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.
Investor Contact: Parag Bhansali, 904.854.8640, parag.bhansali@lpsvcs.com
Media Contact: Michelle Kersch, 904.854.5043, michelle.kersch@lpsvcs.com