Press Release
For more information:
LPS media contact:
Michelle Kersch, (904) 854-5043
michelle.kersch@lpsvcs.com
Equifax media contact:
Tim Klein, (404) 885-8555
tim.klein@equifax.com
LPS investor contact:
Nancy Murphy, (904) 854-8640
nancy.murphy@lpsvcs.com
Equifax investor contact:
Jeff Dodge, (404) 885-8300
jeff.dodge@equifax.com
LPS Partners with Equifax to Offer Lenders
Employment Verifications through the Loan Quality Gateway
Automated Ordering of VOEs Helps Lenders Expedite Loan Process
JACKSONVILLE, Fla. and ATLANTA, Oct. 23, 2012—Lender Processing Services, Inc. (NYSE: LPS), a leading provider
of integrated technology, data and analytics to the mortgage and real estate industries, and Equifax, a global leader in
consumer, commercial and workforce information solutions, announced today that lenders can automatically order Equifax
Verifications of Employment (VOEs) through the LPS Loan Quality Gateway, powered by RealEC, expediting the loan
origination process.
The LPS Loan Quality Gateway is an open platform that provides the integrations, data management, decisioning and
workflow management required for current and emerging loan quality programs. Through this platform, lenders can automate
the ordering of Equifax VOEs to reduce the time and errors associated with manual VOE-ordering processes.
This new value-added service streamlines VOE-related tasks required for processing, underwriting, quality assurance
and closing. Current employment and income information via The Work Number® — Equifax’s proprietary database of over
210 million employer-direct payroll records — or a Fannie Mae Form 1005 and supporting documentation are provided with
each VOE order, helping lenders reduce rework at underwriting and closing. The VOE solution also helps to reduce loan
buyback risk by using third-party verification to identify errors and borrower misrepresentation.
Using best-in-class workflow processes tailored for compliance with regulatory requirements, Equifax VOEs are
uniformly conducted and meticulously documented to stand up to quality assurance reviews and rigorous underwriting
guidelines.
The VOE service is offered by LPS’ subsidiary RealEC Technologies, which powers the LPS Loan Quality Gateway,
and Equifax’s Workforce Solutions, a leader in services to human resources, payroll and tax departments in all industries, as
well as the public sector.
“The integration of Equifax’s VOE capabilities with LPS’ Loan Quality Gateway offers lenders the technological
power, flexibility and quality needed to deliver industry-leading verifications to close loans with greater speed and
confidence,” said [Michael Kuentz, senior vice president of Equifax Verification Services].
LPS Partners with Equifax to Offer Lenders Verifications of Employment Through the Loan Quality Gateway
Page 2
“We are continuing to look at additional opportunities to leverage the Loan Quality Gateway, which helps provide
high quality loan originations. Partnering with a verification leader like Equifax to offer this best-in-class VOE service
represents a significant example of this commitment and focus.” said Dan Sogorka, president of RealEC Technologies.
The addition of Equifax's VOE service complements the existing loan origination services available on the LPS Loan Quality
Gateway, including appraisals; automated valuation models (AVMs); title insurance; closing services; flood insurance;
verifications of income and identity; mortgage insurance; and fraud prevention tools.
About Lender Processing Services
Lender Processing Services (NYSE: LPS) is a Fortune 1000 company headquartered in Jacksonville, Fla., employing
approximately 8,000 professionals. LPS delivers comprehensive technology solutions and services, as well as powerful data
and analytics, to the nation’s top mortgage lenders, servicers and investors. As a proven and trusted partner with deep client
relationships, LPS offers the only end-to-end suite of solutions that provides major U.S. banks and many federal government
agencies the technology and data needed to support mortgage lending and servicing operations, meet unique regulatory and
compliance requirements and mitigate risk.
RealEC Technologies, a subsidiary of LPS, operates the RealEC Exchange, the mortgage industry’s leading Electronic
Partner Network, enabling lenders and their business partners to electronically connect, collaborate and automate their business
processes.
These integrated solutions support origination, servicing, portfolio retention and default servicing. LPS’ servicing
solutions include MSP, the industry’s leading loan-servicing platform, which is used to service approximately 50 percent of all
U.S. mortgages by dollar volume. The company also provides proprietary data and analytics for the mortgage, real estate and
capital markets industries. For more information, please visit www.lpsvcs.com.
About Equifax, Inc.
Equifax is a global leader in consumer, commercial and workforce information solutions, that provides businesses of
all sizes and consumers with insight and information they can trust. Equifax organizes and assimilates data on more than 500
million consumers and 81 million businesses worldwide, and use advanced analytics and proprietary technology to create and
deliver customized insights that enrich both the performance of businesses and the lives of consumers.
Headquartered in Atlanta, Equifax operates or has investments in 18 countries and is a member of Standard & Poor's
(S&P) 500® Index. Its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. For more
information, please visit www.equifax.com/mortgage.
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