Skip to main content

LPS Announces Single-Point-of-Contact Requirement Compliance Solution for Servicers

May 04, 2011

Lender Processing Services Inc. (LPS), a provider of integrated technology and services to the mortgage and real estate industries, has announced that it has developed a solution to help mortgage servicers respond to the Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board (FRB)-issued consent orders announced on April 15th. A key element of these consent orders is for mortgage loan servicers to provide their borrowers with a dedicated single point(s) of contact for specific mortgage loan servicing functions. LPS has proactively responded to the required consent orders by enhancing its mortgage loan servicing platform, MSP. Clients will be able to assign, view and easily obtain detailed information on the single point of contact assigned to each specific loan throughout the life of the loan. "Offering mortgage loan servicers the ability to specify a single point of contact for each mortgage loan helps streamline loss mitigation workflows, increases borrower satisfaction with the process and enables mortgage loan servicers to comply with the proposed regulation quickly and easily," said Greg Whitworth, executive managing director of Lender Processing Services Inc. (LPS) Servicing Solutions division. This enhancement adds a unique tracking field within MSP to record single-point-of-contact information, as designated by the mortgage loan servicer. LPS will also provide fields in ancillary products to support consistency across all communication channels. While the current focus on a single point of contact is specific to loss mitigation, LPS is working to broaden the scope of its single-point-of-contact functionality to all areas of mortgage loan servicing, whether that mortgage loan is current or in any stage of default.
About the author
Published
May 04, 2011
Fed Holds Rates Steady As Economic Growth Stays Solid

Move comes amid continued pressure, frustration from President Trump

Guild Mortgage To Go Private In $1.3B Deal With Bayview Asset Management

Guild to remain independent post-acquisition, strengthening national retail and servicing strategy

Jun 18, 2025
Rocket Pro And Vetted VA Join Forces

What started as a Facebook group now educates 100K+ veterans monthly — Vetted VA and Rocket Pro working to bring ethics, clarity to a broken system

Jun 17, 2025
MBA Urges Shift To Single Credit Report Model, Citing Cost Savings And Efficiency

MBA says tri-merge credit checks cost lenders up to $100 per loan, doubling since pre-COVID, as industry pushes for a cheaper, single-report model

Jun 16, 2025
Fairway Acquires Hallmark Home Mortgage Through Asset Purchase

Hallmark to become new Fairway division, gets access to Fairway's Fairway's product portfolio, tech, and support resources

Jun 13, 2025
Trigger Leads Bill Clears Senate

Final push now left to House; reconciled bill needed next