The applied analytics division of Lender Processing Services (LPS) rolled out a new tech solution called It’s Listed!, which adds to its Lien Alert system.
The product lets servicers know when properties listed in their portfolios appear on the Multiple Listing Service.
"Servicers benefit when they have early notification of when their customers put their properties on the market," said Rob Walker, managing director for the LPS Applied Analytics division. "It's Listed! Alerts is an early notification system that gives servicers the opportunity to help expedite short sales by identifying delinquent borrowers in their portfolio who have listed their properties."
Servicers may also want to use the advisory tool to help retain customers by giving their lending departments notice whenever a current borrower lists a property.