Skip to main content

LPS Launches New REO Solution

NationalMortgageProfessional.com
Oct 31, 2012

Lender Processing Services Inc. (LPS) has announced the release of a new real estate-owned (REO) technology that supports servicer efforts in the management and disposition of REO assets. The Web-enabled REO Workspace application combines the client-specific workflow functionality and data required to support the full life cycle of an REO asset, including additional functionality for tenant management within a property. REO Workspace provides a rich set of features and capabilities including: ►A customizable rules engine to reflect each client's unique business needs ►A repository for all files and documents related to the loan assets ►Paperless handling of each loan asset from a single location ►Support for integration with a servicer's third-party suppliers, which helps servicers to more efficiently manage their REO properties. The REO Workspace application allows servicers to easily integrate with asset management vendors and exchange information on assigned properties in a controlled, secure environment. Property data is centrally stored, and reports are generated from various types of information to support asset-level decisioning. "LPS' new REO Workspace technology is a viable tool to help servicers efficiently manage their increasing REO volumes within a single solution," said LPS Chief Information Officer Joe Nackashi. "We developed this technology to address the unique needs of servicers that want to manage REO activities in-house as part of an overall, end-to-end loan servicing process." The REO Workspace application is designed to deliver greater transparency in the loan life cycle, support servicer efforts to efficiently dispose of real estate assets and reduce losses. It is the first of several LPS technology applications being deployed for the mortgage servicing industry that combines LPS' MSP and LPS Desktop core systems with a user-, data- and workflow-centric focus to deliver integrated, process-driven functionality.
Published
Oct 31, 2012
Federal Regulators Race To Address Cryptocurrency Risks

Cryptocurrency is quickly morphing into a volatile but widely embraced innovation, and federal regulators are racing to address the potential risks to consumers and the market. 

Industry News
Sep 24, 2021
MBA Initiative Seeks To Close Racial Homeownership Gap

Says its advocacy, partnerships & connections will help increase opportunities for minority borrowers

Industry News
Sep 24, 2021
Guaranteed Rate Opens New Branch In Southwestern Michigan

Guaranteed Rate expanded its presence in Southwester Michigan, after opening a new branch in St. Joseph

Industry News
Sep 22, 2021
Chinese Property Giant Evergrande Falters, Threatening U.S. Investors

On Monday, investors across three continents dumped their stocks, mainly out of fear that the world’s two largest governments — the United States and China — would undercut the beginnings of a global economic recovery. 

Industry News
Sep 22, 2021
Compass Mortgage Expands In Four Additional States

Compass Mortgage is now licensed in Virginia, Washington, North Carolina and South Carolina.

Industry News
Sep 22, 2021
Enact Holdings Completes IPO

Genworth Financial Inc. announced the completion of the initial public offering for its subsidiary Enact Holdings Inc.

Industry News
Sep 21, 2021