Lender Processing Services Announces Formation of LPS Real Estate Group
Lender Processing Services, Inc. (NYSE: LPS), a leading provider of integrated technology and services to the mortgage and real estate industries has announced the formation of the LPS Real Estate Group.
The new division was created as a result of the acquisition and rebranding of the businesses comprising FNRES Holdings, Inc., which includes two primary businesses: FNRES MLS and Cyberhomes, LLC.
The LPS Real Estate Group will include the LPS businesses that support the real estate market, including services and solutions for Multiple Listing Services and associations, franchisors, brokers, settlement services providers, agents, lenders and media technology companies.
These businesses include innovative tools such as Paragon;™ the reInsight™ collection; rDesk® Website, Broker Suites, rDesk® IDX; TransactionPoint®; DocCentral; Cyberhomes, the Cyberhomes Real Estate Advertising Network that generates revenue for its publishers; as well as a robust real estate property and tax database that includes 285 million residential and commercial property, ownership, sales, assessment and mortgage records. The current executive management team for FNRES Holdings will continue to lead the LPS Real Estate Group division.
“The proliferation of the Internet, the advent of new technologies and challenging market conditions have created a new age in the real estate market,” said LPS Real Estate Group President Jay Gaskill. “We are excited that this new LPS division will provide capabilities to anticipate the evolving needs of our customers and to deliver exciting new solution sets for their immediate and long-term benefit.”
The LPS Real Estate Group has relationships with more than 300 MLS organizations and many of the nation’s largest brokers and settlement services companies and the division’s businesses provide technology applications and data to more than 350,000 real estate professionals.
According to Gaskill, “There are a few themes that seem to resonate with our business clients. First, everyone is looking for new ways to generate revenue. Second, real estate agents are looking for tools and content to help them increase the value of their services and offer additional value-added services to consumers, who are becoming more self-sufficient. Finally, everyone is looking for ways to reduce operating costs. The depth and breadth of the LPS Real Estate Group’s tools and services will enable us to deliver on these critical customer needs by empowering our partners in the real estate industry.”
About Lender Processing Services
LPS is a leading provider of integrated technology and services to the mortgage industry. LPS offers solutions that span the mortgage continuum, including lead generation, origination, servicing, workflow automation (Desktop) portfolio retention and default, augmented by the company’s award-winning customer support and professional services. Approximately 50 percent of all U.S. mortgages are serviced using LPS’ Mortgage Servicing Package (MSP). In fact, many of the nation's top servicers rely on MSP, including eight of the top 10 and 14 of the top 20. LPS also offers proprietary mortgage and real estate data and analytics for the mortgage and capital markets industries. For more information about LPS, please visit www.lpsvcs.com.
VP, Marketing & Communications
LPS Real Estate Group
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