Nebraska Bank Implements New Servicing Platform

Nebraska Bank Implements New Servicing Platform

09/04/2013 BY: ASHLEY R. HARRIS

Lender Processing Services (LPS) announced that a player in the industry is making power moves with its help. On Wednesday, the company announced that West Gate Bank implemented MSP, LPS’ mortgage and consumer loan servicing platform.MSP is a single, comprehensive system used by financial institutions to manage all servicing processes, including loan boarding, payment processing, escrow administration, as well as other tasks.

“LPS’ servicing platform is a proven technology solution that will help us expand our mortgage business and take advantage of new market opportunities,” said Mark Hansen, president of West Gate Bank Mortgage. “LPS’ ongoing commitment to the mortgage industry, combined with the proven stability and functionality of MSP, make it the right solution for our operational success.”

West Gate Bank has now converted its mortgage loan portfolio from its existing banking core system to theMSP servicing platform. One of the key advantagesLPS offers is dedicated teams assigned to support clients’ compliance efforts by helping to ensure MSPis up-to-date with current regulatory changes and federal requirements. West Gate Bank will also receive customer support with the implementation through PowerCell, LPS’ contact support network.

“We are pleased West Gate Bank has chosen LPS to meet the needs of its growing and successful business,” said Robert Davis, EVP of sales and account management in LPS’ Servicing Solutions and Technology division. “By providing scalable and comprehensive technology solutions, LPS can help mortgage servicers of any size achieve their immediate and long-term goals for greater efficiency, reduced costs, and increased revenue.”

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