Lender Processing Services, Jacksonville, Fla., during its year-end processing cycle handled some 37 million loans for 67 mortgage servicers in one day, Jan. 1.
Processing Content
The reason for this year-end processing is that its servicing clients need to have the data to meet Internal Revenue Service and other government agency reporting requirements, as well as their own internal reporting needs.
This year-end processing of loans is an intensive project involving employees from multiple departments that review various activities that have occurred throughout the year.
