DDesktop Integration Services – LPS Desktop’s® Efficiency Tool for Servicers and their Attorneys

Manual loan management of foreclosures and bankruptcies can be a cumbersome, paper-intensive process. Inefficiencies occur when large volumes of information exchanged between servicers and their vendors require entry into disparate computer systems. Platforms designed to service loans and software designed to help manage defaulted loans are frequently incompatible.  As a result, communication occurs manually through e-mails, phone calls and/or double entry of data from one system to another.  This inefficient process is also prone to errors that could have serious consequences.

With LPS’ development of new technology, however, servicers and their attorney vendors (firms) now have the potential to improve efficiency, accuracy and communication in their management of foreclosure and bankruptcy loans.

Bridge Communication Gaps

LPS Desktop Integration Services (DIS), a component of LPS Desktop Process Management, is a bi-directional XML-based Web service interface that assists in bridging communication gaps between servicers and their firms.  LPS DIS uses a combination of XML and data-mapping to open new lines of automated communication between servicing systems and firm case management systems.    LPS DIS is provided by LPS Desktop as a complimentary value-add service for clients and their firms with no implementation fees or monthly costs to the user!

Increase Efficiency and Work within Existing Applications

LPS DIS allows firms to work within their existing case management applications while increasing efficiency and accuracy through a direct interface with LPS Desktop.  The LPS DIS interface includes data fields found in LPS Desktop Process Management’s steps and data forms (DDFs), so firms can map their internal system’s corresponding fields.  A data dictionary is provided to assist firms with the data mapping exercise.  Once the mapping is complete, the interface systematically loads the data into LPS Desktop Process Management, and LPS Desktop sends the data to the servicing system of record. 

In addition to step and data form fields, LPS DIS can also initiate issues, holds, intercoms and fees/costs requests in LPS Desktop Process Management via corresponding triggers through the interface.  LPS DIS also enables firms to perform scheduled Web service calls that automatically retrieve and send data. For example, firms can configure their case management systems to automatically retrieve and confirm receipt of new foreclosure or bankruptcy referrals.  Whether a firm is receiving one or 100 referrals at a time, this is a measurable efficiency.   

Eliminate Manual Data Entry to Reduce Timelines and Costs

LPS DIS automation assists with saving valuable time for servicers and their attorneys.  Simply implementing this interface immediately cuts the time previously required for double data entry.  LPS DIS also reduces the time spent researching look-up values, completing steps, filling out data forms or creating a hold/issue or intercom.  Alone or combined, these activities can take several minutes to manually process, whereas LPS DIS can accomplish any of these tasks systematically in seconds.

Servicers also experience critical time savings from LPS DIS.   Since data from the firm’s case management software flows immediately into LPS Desktop Process Management and then to the servicing system of record, servicers have access to accurate, up-to-the-minute status information on every loan file firms are handling on their behalf.  Time previously spent obtaining updates via phone or e-mail can be spent on higher priorities, such as loss mitigation initiatives.

Integrate with Additional LPS Desktop Applications

As part of LPS Desktop, LPS DIS integrates with other widely-used LPS Desktop applications. Integration with LPS Desktop Invoice Management enables firms to upload invoices from their case management system and download invoice status. LPS DIS also integrates with LPS Desktop Document Management to save time and eliminate paper.  All documents associated with a loan file that have been captured digitally can be sent simultaneously with downloaded referrals in electronic format.

Implementation Requirements

It’s easy to become an LPS DIS user.  The implementation process is not complex or difficult and there are no up-front or ongoing costs to servicers’ firms; servicers just need an IT resource with technical expertise for implementation and maintenance.  Firms with dedicated in-house IT resources can deploy LPS DIS in as little as two weeks, depending upon the scope of integration. Thereafter, only routine maintenance is needed to troubleshoot errors or reconfigure mapping changes.  If in-house resources are not available, there are other implementation options.  Third-party integrators that routinely work with firms to implement the LPS DIS system may be available to assist. 

Conclusion

LPS Desktop recognizes the importance of maximizing efficiency and accuracy, especially in today’s market.  Firms that implement LPS DIS experience benefits immediately; and users will see improved operational efficiency with reduced time spent moving data from one system to another.  By introducing automation to help lower costs and reduce errors, servicers and firms can more effectively manage the operational risks associated with defaulted loans. For more information about LPS DIS, please contact mortgage.marketing@lpsvcs.com or call 800.991.1274.

arrow Download a printable PDF
arrow Request more information regarding LPS Desktop.