Lender Processing Services launches end-to-end lien monitoring solutionMortgagePress.comLender Processing Services, Lien Advisor, lien monitoring program, Ray Ferrarin
Lender Processing Services Inc. (LPS), a provider of integrated
technology and services to the mortgage industry, has announced the
launch of Lien Advisor, a full-service, end-to-end lien monitoring
program that provides greater visibility for the mortgage industry
into its borrower or loan-related events that can increase loan
risk. Lien Advisor also enables first and subordinate lien holders
to determine and proactively defend their equity positions.
Leveraging LPS' databases of real estate and public records
information, Lien Advisor provides ongoing, online monitoring of
specific loans, portfolios or lien positions to alert clients about
foreclosure/default activity, tax delinquencies, bankruptcies, ARM
resets and other important indicators that could impact loan or
borrower status. Proactively monitoring these activities helps
lenders and servicers take appropriate action, such as loan
modifications, to prevent losses and maximize their assets' net
In addition to ongoing monitoring, Lien Advisor offers options
for on-demand lien monitoring for single properties or loan
portfolios. When alerts are sent on properties with one or more key
lien indicators, a full report is generated for each property.
"Lien Advisor expands a servicers' ability to understand what is
going on with the loans in their portfolios, which enables them to
protect their assets, address negative loan-related issues before
they escalate and enhance lead generation," said Ray Ferrarin,
managing director, LPS Applied Analytics.
Lien Advisor also offers a fulfillment service for home equity
lenders that leverages LPS' extensive analytics to determine asset
equity position and senior lien foreclosure monitoring to protect
home equity lenders against future losses in their core portfolio.
As part of this service, LPS will monitor key senior foreclosure
milestones and coordinate post-sale activities on the subordinate
lien holder's behalf, including ensuring that local counsel
selected by the subordinate lien holder bids at the senior
foreclosure sale and collects any surplus funds on their
"The current mortgage environment demands that servicers and
lenders use customizable, leading-edge tools to both protect and
grow their businesses," said Rick Snoke, vice president, LPS
Default Solutions. "Lien Advisor is a powerful tool to help them
mitigate loan losses and take timely action at the first sign of a
For more information, visit www.lpsvcs.com.