Lender Processing Services Inc. (LPS) has jumped into the real estate owned (REO) property auction space, acquiring Rising Tide Auctions. The company will do business as LPS Auction Solutions.
LPS says servicers will benefit from the company's end-to-end management of the auction process, including data collection, property due diligence, open-house showings and the auction event. LPS Auction Solution also uses a broker outreach program to encourage broker participation in the auction events.Â
Several Rising Tide Auctions executives join LPS as part of the deal. Evan Gladstone, former executive managing diretor of Rising Tide Auctions, has been named managing director of LPS Auction Solutions.
SOURCE: Lender Processing Services