Lender Processing Services, a provider of integrated technology, services, data and analytics to the mortgage and real estate industries, announced an enhancement to its Lien Alert technology that notifies servicers when properties in their portfolios appear on Multiple Listing Services.
“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.
This new service, called It’s Listed! provides that early notification to help servicers 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,” Walker said.
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.
For added convenience, Lien Alert is available through LPS’ MSP servicing platform, which is used by many of the nation’s leading servicers, as well as through www.SiteXData.com and batch fulfillment. Lien Alert can be ordered via a single real-time property report, one-time portfolio review or through ongoing portfolio monitoring.