The lien solution will offer its clients lien activity alerts to update them on any changes to their portfolio that could affect their loan or borrower status.
The system will send users alerts on ARM resets, tax delinquency, bankruptcy notifications, ownership changes, lien status changes, value changes, foreclosure/default activity, involuntary liens and judgments, new recorded loans and MLS listings.
“Our lien alert solution provides servicers with instant access to relevant lien activity on their loan portfolios so they can keep a closer eye on their inventory and react to any changes or updates accordingly,” said LRES CEO Roger Beane.
Collaboration with multiple data providers enabled LRES to mince information down to the county level for the servicer’s portfolio, according to the release. That granularity can be used as a customer retention tool to reengage with borrowers for refinancing or re-representation to finance a new property. It can also be a risk mitigation tool to follow protocol with issues such as bankruptcies and foreclosures.
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California-based real-estate services company LRES has announced the launch of a complete lien alert solution to update servicers on their loan inventory, according to a news release.