HOME EQUITY SERVICING
Last decades housing boom added millions of home equity loans and lines to the servicing portfolios of many of our clients as the market created expansive growth in home values. If you have home equity loans or lines on your books, you are at a higher risk and you need a reliable, dynamic and cost-effective system to process those loans.
A great opportunity exists to capitalize on the similarities between your mortgages and home equity loans and lines to reduce your risk. LPS offers robust data and analytics, risk management and servicing solutions to power your home equity strategies and success.
It also provides the same great technology that creates efficiency and functionality when processing all of your first mortgages.
Here are just a few of the benefits of integrating Lender Processing Services technology, such as our Mortgage Servicing Package (MSP)
, into the management of all of your loans:
- Complete Risk Management. By leveraging LPS’ technology to service both your traditional mortgage and home equity loans and lines, you benefit from a more complete financial view of the borrower’s profile, risk segmentation and profitability.
- Robust Servicing Technology. LPS delivers the technology to support the unique blend of consumer credit and mortgage requirements that are necessary when offering home equity loans and lines. LPS’ industry-leading Mortgage Servicing Package (MSP) technology supports escrow administration, nonperforming loans, year-end reporting, card access, optional insurance premiums, regulatory compliance and financial controls.