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As legal issues wind down, LPS looks to increase business

After more than three years of investigations by federal and state authorities into foreclosure processes, the legal issues that have saddled Lender Processing Services Inc. and its mortgage banking clients are winding down.

For Jacksonville-based LPS, which provides technology services to mortgage lenders, the focus now is on increasing business as financial institutions adjust to new industry standards.

“As lenders move beyond legacy issues, including the recent settlement of many bank consent orders, we are seeing an even greater focus on deploying technology to re-engineer processes and to address the cost structure of originating and servicing loans,” LPS Chief Executive Officer Hugh Harris said in the company’s quarterly conference call last week.

“We are collaborating with our clients, including the nation’s leading and emerging mortgage institutions, to address these needs,” he said.

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