Bundling is a commonplace term in the lexicon today. Contractors really have no clue whom their Masters are or why they seem to whimsically do the things they do. The reality is that there is nothing whimsical about Fidelity National Financial (FNF) purchasing Lender Processing Services (LPS). What we are talking about here is after a seven year divorce, FNF and LPS are back in the bedroom. American Banker puts it succinctly:
Without a core servicing platform, FNF’s technology has been relegated to developing ancillary systems that plug into LPS’s MSP. LPS’s origination technology meanwhile, has failed to garner the same market dominance as its flagship servicing system.
The reality is this: The Property Preservation Industry (PPI) is waking up to the value of Aggregated Data and the ability to seamlessly transition, semantically, this data for an end user. We do a lot of this over on our Foreclosurepedia ISTAR Flagship so the concept is not new. The realization of the Industry that Field Service Management (FSM) is not the Mecca it used to be is a relatively new concept. We knew the road upon which things were transpiring when we reached out to Michelle Kersch, Senior Vice President of LPS Communications and Marketing to have her confirm LPS was leaving the Asset Management (AM) business of the Real Estate Owned (REO) Industry. You see, folks, data and the ability to move it in a meaningful fashion is King on the Street.
A little FYI for the novice: LPS’ software team successfully implemented their Product in “…Palm Beach, the 29th most populous county in the U.S. with nearly 1.3 million residents, [using] ShowCase® to handle the approximately 425,000 criminal court cases the county processes each year.”
Going way back to my commentary on an OpEd by Ron Jasgur and the contraction of the AM REO business; the movement back in house, will also include the FSM realms. Those whom begin to truly realize whom knows whom and where the data is will successfully traverse the coming turbulent times ahead for Contractors and Order Mills alike.
While the Herd is out chasing trivialities about United Inch bids on reglazing, we are positioning our Clients to profit upon that which they do each and every day! Every Contractor has a GOLD MINE of data which is LEGALLY theirs! They are only missing the ability to capitalize upon this new revenue stream! Reach out today and schedule a Consultation instead of aimlessly following the Herd!