Lender Processing Services Inc. (LPS) has announced the launch of LPS Business Intelligence (BI), a reporting and analytics solution that mortgage servicers can use to measure and analyze key performance indicators to help make more informed decisions about loans in their portfolios. With LPS Business Intelligence, mortgage servicers can use a single, online portal to access both current and historical data that can be compiled in detail, summary or other customized perspectives for more robust analysis. Servicers can use this data for the creation and delivery of reports that can help them quickly and easily identify trends, complete analyses and report on key performance metrics. Because this tool pulls information from one source, it eliminates the need for servicers to run multiple queries using data from disparate systems.
The LPS Business Intelligence toolset also features dynamic reporting functions and easy-to-use query and graphing capabilities for straightforward and reliable analysis of even the most complex data. Users can create fully customized and illustrated reports with the solution's built-in graphics and chart options.
"LPS BI has been an excellent management asset for us," said David Henderson, investor reporting manager for the Virginia Housing Development Authority. "This powerful, easy-to-learn reporting tool helps us gain more clarity into our portfolio data across the organization so we can quickly identify issues and execute faster on necessary actions."
The LPS Business Intelligence offering has three components that work together seamlessly to deliver a comprehensive solution: The BI Data Warehouse, Library Framework and Dashboard. The Data Warehouse stores data used to create reports and is fully integrated with LPS' loan servicing platform, MSP. The Data Warehouse can be populated further with other LPS and lender data sources resulting in a truly comprehensive data set. The BI Library Framework is a single user interface for viewing and distributing reports across the enterprise, and the BI Dashboard allows users to customize their user views so they can access and use only the reports they want to see.
"LPS Business Intelligence offers users a more comprehensive and accurate view of loan data and helps them identify and predict changes over periods of time," said Greg Whitworth, executive managing director of LPS Servicing Solutions division. "The solution's current and historical views of loan data offer significant possibilities for trending and analysis."