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LPS Rolls Out Mass Loan Mod Solution
Lender Processing Services, Inc. (LPS: 32.2212 +0.32%) said Wednesday morning that it's the latest mortgage industry services provider to roll out an end-to-end loan modification platform. Called RediMod, the new platform focuses on enabling mass loan modifications by automating loan eligibility and best-fit determinations for modification programs, and then combining loan-level and portfolio analytics with customizable customer contact strategies tailored to meet a servicer's specific requirements.
"Servicers are under increasing pressure to limit the number of defaulted loans and assist borrowers in their efforts to stay in their homes," said Dan Scheuble, co-chief operating officer of LPS and president of the company's mortgage processing services division. "RediMod provides a flexible and immediate solution that extends a servicer's current technology rather than replaces it, allowing for a very quick implementation."
While RediMod is intended to provide a complete solution to servicers, LPS said its new platform also has been developed in a modular fashion - allowing those with partial workout processes already in place to add capabilities as needed. The platform also is offered in conjunction with the company's strategic consulting services.
The company, while a well-known and strong player in the mortgage services space, isn't the first or the only large ... more

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