Lender Processing Services Inc. (LPS) has announced that West Gate Bank has implemented MSP, and LPS system used by financial institutions to manage all servicing processes, including loan boarding, payment processing, escrow administration and more, and gives bankers the technological power to meet all mortgage and consumer lending servicing needs for any size portfolio.
"LPS' servicing platform is a proven technology solution that will help us expand our mortgage business and take advantage of new market opportunities," said Mark Hansen, president of West Gate Bank Mortgage. "LPS' ongoing commitment to the mortgage industry, combined with the proven stability and functionality of MSP, make it the right solution for our operational success."
With the implementation complete, West Gate Bank has converted its mortgage loan portfolio from its existing banking core system to the MSP servicing platform. One of the key advantages LPS offers are its dedicated teams assigned to support clients' compliance efforts by helping to ensure that MSP is up-to-date with current regulatory changes and federal requirements. Another benefit West Gate Bank will receive with its MSP implementation is customer support through PowerCell, LPS' award-winning contact support network. PowerCell is committed to West Bank's operational success with MSP and offers the availability of technical, application and operational assistance 24/7 to ensure any issues are addressed and resolved quickly and to the bank's satisfaction.
"We are pleased West Gate Bank has chosen LPS to meet the needs of its growing and successful business," said Robert Davis, executive vice president of sales and account management in LPS' Servicing Solutions and Technology division. "By providing scalable and comprehensive technology solutions, LPS can help mortgage servicers of any size achieve their immediate and long-term goals for greater efficiency, reduced costs and increased revenue."