WITH SERVICING SYSTEMS, LESS IS MORE
When it comes to loan servicing platforms, go for quality over quantity. Servicing mortgage and consumer loans on separate systems elevates risk, creates operational inefficiencies and increases IT operating costs.
LPS' integrated loan servicing platform – MSP
– brings consumer loan servicing and mortgage loan servicing functionality into a single, comprehensive solution. This gives retail and mortgage bankers the ability to automate all areas of loan servicing – including loan setup and maintenance, customer service, cashiering, escrow administration, investor accounting, default management, corporate accounting and federal regulatory reporting.
provides integration and automation to service a wide range of consumer lending and mortgage loan products, including, but not limited to, home equity loans and lines of credit, secured and unsecured personal loans, small business loans, fixed-rate mortgages, adjustable-rate mortgages, construction loans, subprime loans and daily simple interest loans.
- Enhanced risk mitigation
- Improved compliance management
- Increased productivity and flexibility
- Reduced overall servicing costs
- Increased management and control