LPS introduces tool to proactively manage default riskMortgagePress.comLender Processing Services, LPS, Proactive Risk Management,
Lender Processing Services Inc. (LPS), a provider of integrated
technology and services to the mortgage industry, has introduced
Proactive Risk Management, a tool that seamlessly integrates with a
lender's existing servicing and banking systems, as well as
enterprise credit risk models, analytics and data tools. Proactive
Risk Management helps lenders proactively mitigate losses with
borrowers who have a high probability of becoming delinquent in
their mortgage payments.
This solution connects borrower data across all lending lines
and assesses borrower risk in real time, using existing models or
credit scoring. By immediately identifying at-risk borrowers,
servicers can react and deliver targeted risk management and loss
mitigation recommendations, based on the lender's or servicer's
parameters, through any communication channel, including call
center, IVR and Web site.
"The current economic environment demands innovative solutions
to new complex challenges, and lenders need to proactively identify
and reach out to at-risk borrowers earlier than ever before," said
Dan Scheuble, co-chief operating officer of LPS. "Our proactive
risk management capability gives lenders an innovative mechanism to
do just that. This tool enables them to analyze the risk a borrower
presents to the organization and act upon it every time the
institution is in contact with the borrower."
The solution is delivered in a hosted environment and built
using a Web services architecture, which makes it easy to deploy
quickly. The solution can be implemented and begin providing risk
management recommendations within 90 days, allowing servicers
near-term relief from the current market pressures.
For more information, visit www.lpsvcs.com.