Lender Processing Services Inc. (LPS) has announced It's Listed! Alerts, a new enhancement to its Lien Alert offering. It's Listed! Alerts notifies servicers when properties in their portfolios appear on the Multiple Listing Service (MLS). "Servicers benefit when they have early notification of when their customers put their properties on the market," said Rob Walker, managing director for the LPS Applied Analytics division. "It's Listed! Alerts is an early notification system that gives servicers the opportunity to help expedite short sales by identifying delinquent borrowers in their portfolio who have listed their properties. The solution can also help servicers retain their customers by giving their lending departments a heads-up when current borrowers have listed their properties."
Through its exclusive relationship with Realtors Property Resource (RPR), a wholly-owned subsidiary of the National Association of REALTORS, LPS' It's Listed! Alerts will match properties from servicers' portfolios with listing price information available in the RPR system. In addition, RPR can notify the listing agent when a servicer seeks more information about a property. It's Listed! Alerts expands the broad capabilities of LPS's Lien Alert solution, which helps servicers better manage portfolio risk with instant notifications about key property-related activities that can impact a loan portfolio, including: newly recorded mortgages; foreclosure/default activity; ownership changes; involuntary liens and judgments; property tax delinquencies; bankruptcies; ARM resets; new loans; lien status changes; and value changes.