LRES Rolls Out Lien Alert Solution

Posted by Patrick Barnard on February 20, 2017 No Comments
Categories : Residential Mortgage

LRES, which offers valuations, real estate owned asset management, homeowners association (HOA) and other technology solutions for the mortgage and real estate industries, has launched a lien alert solution to enable servicers to continuously monitor their portfolios for liens and other activity.

The solution offers a choice of 10 different activity alerts, allowing servicers to monitor for adjustable-rate mortgage resets, tax delinquency, bankruptcy notifications, ownership changes, lien status changes, value changes, foreclosure/default activity, involuntary liens and judgments, new recorded loans, and MLS listings, the company says in a release.

LRES collaborates with multiple data providers in order to deliver this service. It can be used as a customer retention tool – for example, a servicer can get an alert when a borrower puts his or her house on the market of if he or she qualifies for a lower mortgage rate – or it can be used as a risk mitigation tool during complex situations such as bankruptcies and foreclosures.

The service can also be used to alert servicers when a HOA or sub-HOA has placed a lien on a property in a “super lien” state.

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