Lender Processing Services (LPS) launched its new Quality Insight tool to help the mortgage industry comply with new rules and regulations.

Quality Insight is delivered through the LPS Loan Quality Gateway, an open technology platform powered by RealEC.

The function provides a universal set of loan evaluation criteria that can be configured by clients to create an overall assessment of inputed data.

"As a key component in the LPS Loan Quality Gateway's suite of analytical tools, Quality Insight identifies investor and lender compliance issues early in the process, helping lenders gain processing efficiencies by automating the internal quality control review process," said Andy Higginbotham, executive vice president of LPS Loan Quality Origination Solutions.