Lender Processing Services, Inc. (NYSE: LPS) has acquired Rising Tide Auctions. The acquisition will expand the asset management offerings of LPS and allow the company to provide property auction solutions to help servicers minimize REO timelines and reduce costs. Real estate buyers and investors will be provided with the ability to purchase individual or multiple bank owned properties directly from the nation's leading REO disposition service provider.
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About Lender Processing Services
Lender Processing Services, Inc. (LPS) is a leading provider of integrated technology and services to the mortgage and real estate industries. LPS offers solutions that span the mortgage continuum, including lead generation, origination, servicing, workflow automation (LPS Desktop(TM)) portfolio retention and default, augmented by the company's award-winning customer support and professional services. Approximately 50 percent of all U.S. mortgages by volume 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.
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