This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

LPS' Workout Interaction Tool Interfaces With Fannie Mae's Servicing Management Default Underwriter

Stocks in this article: LPS

JACKSONVILLE, Fla., May 15, 2013 /PRNewswire/ -- Lender Processing Services, Inc. (NYSE: LPS), a leading provider of innovative technology, services, data and analytics to the mortgage and real estate industries, announced the launch of its Workout Interaction Tool (WIT), a Web-based application that provides data from its market-leading MSP servicing system to and from Fannie Mae's Servicing Management Default Underwriter™ (SMDU™) platform.

(Logo: http://photos.prnewswire.com/prnh/20120802/FL50731LOGO )

Using LPS' WIT, mortgage servicers can access SMDU to provide consistent, real-time decisions on loan modifications and other solutions for homeowners with payment challenges. SMDU enables timely workout decisions based on Fannie Mae and Servicing Alignment Initiative guidelines by integrating with existing loss mitigation systems to enhance solution delivery during the foreclosure prevention process.

"We're pleased LPS has developed a solution that enables access to SMDU during the loss mitigation process for Fannie Mae loans," said Leslie Peeler, senior vice president of Fannie Mae's National Servicing Organization. "WIT shows that LPS understands Fannie Mae requirements and sees the value of delivering fast, consistent workout solutions in a user-friendly format that helps more borrowers avoid foreclosure."

"LPS is proud that WIT supports Fannie Mae's efforts to increase the quality and consistency of loan modification workouts across the servicing industry," said Dan Scheuble, LPS chief operating officer. "Together, we hope to facilitate faster adoption of Fannie Mae loss mitigation programs and improve workouts for both servicers and borrowers through improved loan workout standardization."

After WIT submits data to SMDU from LPS' MSP, which includes collections and loss mitigation functionality, then SMDU returns a response file that includes the recommended loss mitigation program based on the data received. The response file also contains messages specific to each loan based on SMDU's analysis that are designed to facilitate processing and completion of loan workouts.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs