Lender Processing Services launches tax servicing solutionMortgagePress.comLender Processing Services, real estate tax, LPS Desktop Tax Management, Mortgage Servicing Package Lender Processing Services Inc. has announced the launch of its LPS Desktop Tax Management application, a user-friendly solution designed to bring an advanced level of automation and efficiency to real estate tax management. With LPS Desktop Tax Management, lenders and servicers that handle any portion of tax escrow processing internally can benefit from streamlined processes and additional revenue opportunities. LPS Desktop Tax Management offers state-of-the-art automated auditing, real-time exception processing and fully-integrated workflow management tools for escrow servicing. Since the product offering is also integrated to LPS' industry-leading Mortgage Servicing Package (MSP) and workflow solution (LPS Desktop), clients can leverage the data and feature sets in these comprehensive and widely-used platforms, providing lenders and servicers with an unparalleled opportunity for efficiency gains in escrow servicing. When implementing LPS Desktop Tax Management, lenders and servicers determine the escrow processing functions they want to keep internally and those they prefer to outsource. The LPS Desktop Tax Management platform enables users to perform internal processes, as well provide summaries of the outsourced processes for management review. Financial institutions can select from several options for incorporating LPS Desktop Tax Management into their escrow processing operation. They can choose to partner with LPS as their tax vendor, implementing LPS Desktop Tax Management, obtaining tax data and selecting a la carte tax services to meet specific needs. They can opt to collaborate with LPS to implement LPS Desktop Tax Managem ata, but handle tax services internally. Finally, some organizations may decide to implement LPS Desktop Tax Management to gain its automation benefits, while performing all tax services internally, including data procurement. "In today's challenging and competitive mortgage market, lenders and servicers need to look for every opportunity to reduce costs," said Bill McCreary, president, LPS' Property Tax Solutions division. "Escrow servicing is one area where they can experience significant cost reduction, but they need the sophisticated technology that enables them to fully take advantage of that opportunity. With LPS Desktop Tax Management, lenders and servicers can quickly streamline escrow servicing responsibilities, enabling them to decrease operating costs." For more information, visit www.lpsvcs.com.