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
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.