This Day On The Street
Continue to site
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

LPS Launches Error Resolution Tracking To Assist Mortgage Servicers With New CFPB Requirements

JACKSONVILLE, Fla., Oct. 28, 2013 /PRNewswire/ --  Lender Processing Services, Inc. (NYSE: LPS), a leading provider of integrated technology, data and analytics to the mortgage and real estate industries, today announced the launch of its Error Resolution Tracking solution, an innovative workflow tool designed to assist mortgage servicers in meeting new Consumer Financial Protection Bureau (CFPB) requirements for recording, tracking and responding to consumer complaints regarding possible errors with their loans. LPS can quickly implement Error Resolution Tracking to help servicers meet the CFPB's compliance deadline of Jan. 10, 2014.

(Logo: )

"With the CFPB's deadline fast approaching, servicers are looking for solutions that can be implemented quickly to help them enhance compliance and control," said Joe Nackashi, CIO and executive vice president of the LPS Servicing Solutions and Technology division. "Error Resolution Tracking delivers highly efficient capabilities for servicers to gain more control over processes, provide a timely response to their borrowers and be better prepared to respond to new CFPB regulatory requirements."

Using servicer-defined parameters within the configurable settings in its logic and workflow, Error Resolution Tracking links incoming borrower correspondence with the loan number in LPS' MSP ® servicing platform and assigns the borrower inquiry to the appropriate work queue for immediate action. To help streamline servicer response time, the solution auto-generates an initial response to the borrower acknowledging receipt of their complaint, and also preserves an audit trail of all borrower correspondence received and sent. If the servicer determines more time is needed to respond to a borrower's inquiry, the Error Resolution Tracking solution auto-generates an extension notification to the borrower.

While Error Resolution Tracking is integrated with MSP, the solution may be used by all servicers. Using sophisticated queuing technology, Error Resolution Tracking can help servicers reduce time-intensive manual data entry in off-line systems, improve response time to borrowers and increase accountability by providing proper controls around the error resolution tracking process.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr 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

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,776.43 +304.06 1.85%
S&P 500 1,987.05 +35.69 1.83%
NASDAQ 4,781.2640 +73.4890 1.56%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs