Lender Processing Services launches end-to-end lien monitoring solution – NMP Skip to main content

Lender Processing Services launches end-to-end lien monitoring solution

National Mortgage Professional
Feb 17, 2009

LPS successfully completes year-end mortgage loan processing, on time and without issue MortgagePress.comLender Processing Services Inc., processing, servicing, Mortgage Servicing Package, Wells Fargo Home Mortgage Lender Processing Services Inc. (LPS), a provider of integrated technology and services to the mortgage industry, has announced it completed year-end processing of all loans serviced using its Mortgage Servicing Package (MSP) and processed in its Jacksonville data center on Jan. 1, 2009. All daily, month-end, quarter-end and year-end processing was completed and balanced by 3:30 p.m. on Jan. 1. Shawn Schossow, vice president, Wells Fargo Home Mortgage, said, "2008 year-end processed seamlessly and in a very timely fashion. The planning, effort and support provided by LPS helped ensure a successful close to 2008." During the year-end process, LPS processed more than 37 million loans for 76 clients, while also maintaining normal system access. The year-end processing of loans is a resource-intensive project that is a culmination of activities throughout the year. Under Internal Revenue Service and other government agency regulations, mortgage servicers are required to report prior-year account information to mortgagors. By compiling loan information, generating exception and balancing reports and creating annual statements for mortgagors, LPS' year-end process enables clients to comply with these requirements and meet internal reporting requirements. "Our clients rely on us to complete year-end processing and balancing well before they open for business in the new year - something that is unmatched in the mortgage industry," said Dan Scheuble, LPS' co-chief operating officer and president of its Mortgage Processing Services division. "All service levels were met or uperior support and technology services that makes LPS a leader in the industry." For more information, visit www.lpsvcs.com.
Published
Feb 17, 2009
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