Lender Processing Services Inc. (LPS) has introduced Lien Advisor, a full-service, end-to-end lien monitoring program designed to provide greater visibility for the mortgage industry into its borrower or loan-related events that can increase loan risk. Lien Advisor also enables first and subordinate lienholders to determine and proactively defend their equity positions.
Leveraging LPS' databases of real estate and public records information, Lien Advisor provides ongoing, online monitoring of specific loans, portfolios or lien positions to alert clients about foreclosure/default activity, tax delinquencies, bankruptcies, adjustable-rate mortgage resets and other important indicators that could affect loan status or borrower status. Proactively monitoring these activities helps lenders and servicers take appropriate action, such as loan modifications, to prevent losses and maximize their assets' net present value, says LPS.
In addition to ongoing monitoring, Lien Advisor offers options for on-demand lien monitoring for single properties or loan portfolios. When alerts are sent on properties with one or more key lien indicators, a full report is generated for each property.