We have been following a story since late March, 2013, of Lender Processing Services (LPS) making a break from the Real Estate Owned (REO) Services. While somewhat dovetailing with scuttlebutt on the streets about Safeguard Properties (SGP) attempting to absorb LPS’ REO Operations, we have yet to receive word back from either SGP or LPS with specificity of anything. Word has it that they will shed all of their REO Operations.
Formed from a 2008 spin-off, LPS’ predecessor companies date back nearly half a century when we first began offering computing and statistical services doesn’t really describe the previous and most recent embroilment in litigation criminal with a 606 Count Indictment handed down in Nevada alone.
We will continue to follow this story as SGP and LPS Public Information Officers reach out to us.
We are also following several breaking stories for the weekend. We are going to go down the rabbit hole with respect to Nationals and Regionals requiring both Contractors and now Realtors to submit to background checks, at their own expense, and only allowed by the Providers selected by the Nationals and Regionals. Two points here: First, it pings your credit. Second, how much of a money making endeavor is this? Finally, why is the US Government’s system of SAM being considered invalid? The same System which allows for the hiring of private, federal Contractors whom work for the CIA, NSA, DHS and others? If so, this would take a set of brass balls!