Welcome!

@DevOpsSummit Authors: Yeshim Deniz, Pat Romanski, Elizabeth White, Liz McMillan, Zakia Bouachraoui

News Feed Item

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

Helps Loan Servicers Increase Efficiency Through Real-Time Loss Mitigation Workout Recommendations From Fannie Mae

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.

WIT retains servicer requests and SMDU responses for future reference and audit purposes. When eligibility of a loan modification is confirmed, relevant data can be fed back into LPS' MSP and provided in an exportable CSV file format for HAMP Treasury reporting.

About Lender Processing Services
Lender Processing Services (NYSE: LPS) delivers comprehensive technology solutions and services, as well as powerful data and analytics, to the nation's top mortgage lenders, servicers and investors.  As a proven and trusted partner with deep client relationships, LPS offers the only end-to-end suite of solutions that provides major U.S. banks and many federal government agencies the technology and data needed to support mortgage lending and servicing operations, meet unique regulatory and compliance requirements and mitigate risk.

These integrated solutions support origination, servicing, portfolio retention and default servicing. LPS' servicing solutions include MSP, the industry's leading loan-servicing platform, which is used to service approximately 50 percent of all U.S. mortgages by dollar volume. The company also provides proprietary data and analytics for the mortgage, real estate and capital markets industries.

Lender Processing Services is a Fortune 1000 company headquartered in Jacksonville, Fla., employing approximately 8,000 professionals. For more information, please visit www.lpsvcs.com.

SOURCE Lender Processing Services, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@DevOpsSummit Stories
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a member of the Society of Information Management (SIM) Atlanta Chapter. She received a Business and Economics degree with a minor in Computer Science from St. Andrews Presbyterian University (Laurinburg, North Carolina). She resides in metro-Atlanta (Georgia).
In his session at 20th Cloud Expo, Mike Johnston, an infrastructure engineer at Supergiant.io, discussed how to use Kubernetes to set up a SaaS infrastructure for your business. Mike Johnston is an infrastructure engineer at Supergiant.io with over 12 years of experience designing, deploying, and maintaining server and workstation infrastructure at all scales. He has experience with brick and mortar data centers as well as cloud providers like Digital Ocean, Amazon Web Services, and Rackspace. His expertise is in automating deployment, management, and problem resolution in these environments, allowing his teams to run large transactional applications with high availability and the speed the consumer demands.
SYS-CON Events announced today that DatacenterDynamics has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY. DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and value extensible storage infrastructure has in accelerating software development activities, improve code quality, reveal multiple deployment options through automated testing, and support continuous integration efforts. All this will be described using tools common in DevOps organizations.
Andi Mann, Chief Technology Advocate at Splunk, is an accomplished digital business executive with extensive global expertise as a strategist, technologist, innovator, marketer, and communicator. For over 30 years across five continents, he has built success with Fortune 500 corporations, vendors, governments, and as a leading research analyst and consultant.