National Closing Center

Posts Tagged ‘LPS’

LPS, Nation’s leading provider of mortgage processing services, has organized a fantastic conference, called “LPS Default Servicing Conference” that took place in Denver on August 18-2o, 2010. The action packed conference touted big names and influential sponsors and was overall very well organized.

What was really interesting to observe is the direction the entire industry is taking. LPS is talking about the “default servicing.” Participants, especially real estate agents, were talking all about short sales. The latter are mentioned in the Welcome word by LPS leaders, printed in the conference’s booklet.

Finally, all the players of the real estate and lending industry acknowledge that all of us, in one way or another, will be in some sort of “default servicing” for the next few years, if not a half dozen years. It’s a stark contrast from 2008 or even 2009, when mainstream organizations where crying wolf about hard times, but still in disbelief that short sales will last.

At the same time, real estate agents were avoiding short sale, deeming them as troublesome transactions that will not be a significant long-term presence. Now everybody seem to agree short sales cannot and should not be avoided. \

Here were NCC comes into play. Just a little plug…