Lender Processing Services Inc. has introduced a new enhancement to a lien-related service that helps servicers manage portfolio risk with notifications about key property-related activities that can impact a loan portfolio.
Now the lien service notifies servicers when properties in their portfolios appear on the Multiple Listing Service, giving them early notification of when their customers put their properties on the market, said Rob Walker, managing director for the LPS Applied Analytics division, in a press release.
Walker said this can help servicers retain their customers by giving their lending departments a heads-up when current borrowers have listed their properties.
Through an agreement with the Realtors Property Resource listing subsidiary of the National Association of Realtors, the new LPS Lien Alert service—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.