Lender Processing Services Inc. (LPS), a provider of integrated technology and services to the mortgage industry, has introduced Proactive Risk Management, a tool that integrates with a lender's existing servicing and banking systems, as well as enterprise credit risk models, analytics and data tools. Proactive Risk Management helps lenders proactively mitigate losses with borrowers who have a high probability of becoming delinquent in their mortgage payments, LPS says.
The solution connects borrower data across all lending lines and assesses borrower risk in real time, using existing models or credit scoring. By immediately identifying at-risk borrowers, servicers can react and deliver targeted risk management and loss mitigation recommendations, based on the lender's or servicer's parameters, through any communication channel, including call center, IVR and Web site, according to the company.
The solution is delivered in a hosted environment and built using a Web services architecture. Proactive Risk Management can be implemented and begin providing risk management recommendations within 90 days, allowing servicers near-term relief from the current market pressures.
Source: Lender Processing Services