Lender Processing Services Inc. (LPS) and KMC Information Systems have formed a strategic alliance that will more fully integrate select LPS technologies with KMCIS' CaseAware platform and create an end-to-end foreclosure processing solution for loan servicers. As part of its suite of industry solutions, LPS delivers technologies that support default servicing, including robust enterprise workflow solutions, title ordering applications, invoice management tools and other systems that help servicers, attorneys and trustees reduce expenses and increase operational efficiencies.
The CaseAware platform provides the law firms/trustees with a highly configurable case management system that allows them to rapidly adapt business processes (without programmer intervention) based on changes in regulations, client service level agreements (SLAs) or investor requirements.
The enhanced integration between LPS and CaseAware will offer improved process functionality for both the servicer and the law firm/trustee, and provide seamless connectivity from the servicer's system into the more than 100 law firms/trustees utilizing CaseAware as their operating system of record.
"LPS has a rich history and a proven track record of delivering technology that enhances processing efficiency for our clients while helping to manage compliance with state, regulatory and investor requirements," said Bob Caruso, executive managing director of LPS Transaction Services. "This improved connectivity between CaseAware and LPS will provide greater confidence to all the constituents involved in the foreclosure process and help meet each of their specific needs and requirements."
"The enhanced integration of these technologies will be extremely beneficial to all parties involved in the foreclosure process through greater data integrity, and move those involved toward the goals of single point of entry and less FTE cost for law firms," said Wes Kozeny of KMCIS. "The servicers will benefit from an increased focus by the attorney firms on managing the legal, regulatory and client- and investor-specific requirements; the law firms will spend less time managing data exchanges and focus more on process management; and the borrower will see greater levels of process integrity and transparency. Beyond that, all parties will benefit from the entire process, from referral to resolution, by having a single electronic trail."