Lender Processing Services Inc. (LPS) reports that PHH Mortgage has signed a multi-year contract renewal for LPS' servicing platform, Mortgage Servicing Package (MSP).
PHH Mortgage uses MSP to service nearly 1 million first mortgages and 100,000 home equity loans and lines. MSP automates all areas of PHH's mortgage servicing, including loan setup and maintenance, cashiering, escrow administration, investor accounting, default management, regulatory reporting and tax services, LPS says.
PHH is also leveraging LPS Web Direct, which provides real-time online access to MSP information.Â
‘LPS Web Direct enables us to enhance our private-label offering to enable our clients to perform more customer-facing work, while we provide the back-end processing,’ says Martin L. Foster, senior vice president of servicing with PHH Mortgage. ‘We can make relevant information available to our clients based on parameters we set, and in some cases, clients can update MSP directly. This data access is a distinct advantage as we grow our business and offer our clients and valued customers more private-label servicing options.’
SOURCE: Lender Processing Services