LPS Launches Valuation Insight to Provide Appraisal Evaluations through LPS'
Loan Quality Gateway
Strategic Enhancement to LPS' Loan Origination Technology Solution
JACKSONVILLE, Fla., Oct. 23, 2012
JACKSONVILLE, Fla., Oct. 23, 2012 /PRNewswire/ --Lender Processing Services,
Inc. (NYSE: LPS), a leading provider of innovative technology, services data
and analytics solutions to the mortgage and real estate industries, announced
the launch of Valuation Insight™, a new solution that provides appraisal
evaluations through LPS' Loan Quality Gateway^®.
(Logo: http://photos.prnewswire.com/prnh/20120802/FL50731LOGO )
Valuation Insight features customizable business rules and combines LPS'
extensive proprietary databases with external data sources to evaluate an
appraisal; create efficiencies using workflow; reduce turn times and disputes;
and identify potential repurchase issues. Valuation Insight aligns with new
government standards by first validating the appraisal's completeness,
accuracy, consistency and Uniform Appraisal Data compliance. It returns any
flagged valuations to appraisers for remediation – an approach that is unique
in the industry. After the appraisal is complete, Valuation Insight assesses
the external data sources and industry guidelines to create an overall
appraisal quality score.
"This is a critical component of the investments LPS is making in its
innovative loan quality origination solutions," said Dan Scheuble, chief
operating officer, LPS. "By driving more standardized, complete, consistent
and compliant appraisals, Valuation Insight can help meet increased
expectations for higher appraisal quality, while addressing the challenges of
new regulations and requirements for loan quality."
LPS' Loan Quality Gateway, which is powered by LPS subsidiary RealEC^®
Technologies, is a proven, scalable technology platform, which supports
efficiency and compliance with loan quality requirements through a 24/7 data
exchange connected to most of the industry's service and solution providers.
"Valuation Insight is one of the key components of the Gateway that helps
drive data quality, transparency and efficiency gains, assisting originators
to meet higher loan quality standards," said Andy Higginbotham, executive vice
president of LPS Loan Quality Origination Solutions.
About Lender Processing Services (LPS)
LPS (NYSE: LPS) delivers comprehensive technology solutions and services, as
well as powerful data and analytics, to the nation's top mortgage lenders,
servicers and investors. As a proven and trusted partner with deep client
relationships, LPS offers the only end-to-end suite of solutions that provides
major U.S. banks and many federal government agencies the technology and data
needed to support mortgage lending and servicing operations, meet unique
regulatory and compliance requirements and mitigate risk.
These integrated solutions support origination, servicing, portfolio retention
and default servicing. LPS' servicing solutions include MSP, the industry's
leading loan-servicing platform, which is used to service approximately 50
percent of all U.S. mortgages by dollar volume. The company also provides
proprietary data and analytics for the mortgage, real estate and capital
markets industries. Lender Processing Services is a Fortune 1000 company
headquartered in Jacksonville, Fla., employing approximately 8,000
professionals. For more information, please visitwww.lpsvcs.com.
SOURCE Lender Processing Services, Inc.
Contact: Michelle Kersch, +1-904-854-5043, firstname.lastname@example.org; or
Nancy Murphy, +1-904-854-8640, email@example.com
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