Property valuation firm LRES has launched a new service that provides mortgage servicers with comprehensive lien alerts.
Servicers can choose from 10 lien activity alerts that will notify them when changes occur to their loan portfolio that could affect a loan's or borrower's status, the company said Tuesday. The alerts cover a range of information including adjustable-rate mortgage resets, tax delinquencies, bankruptcy notifications, lien status changes and new recorded loans.
"Our lien alert solution provides servicers with instant access to relevant lien activity on their loan portfolios so they can keep a closer eye on their inventory and react to any changes or updates accordingly," LRES CEO Roger Beane said.
Beyond serving as a risk mitigation tool to avoid the financial impact of foreclosures and defaults, the service is also being marketed as an opportunity to connect with borrowers to offer better rates or refinancing opportunities.