The award-winning LenStar Default Management Service connects servicers with their chosen attorneys automating the distribution of data between the servicer’s desktop and the attorney’s case management system.
The LenStar network provides access to lenders and attorneys servicing over 20% of all residential loans. Over the past three years more than 800,000 default cases have been managed by the LenStar system. LenStar customers realize an average savings of $1,500 per case and can expect their carrying timeline to be reduced by an average of 45 days per case, and sometimes by as much as 180 days.
LenStar gives lenders the ability to work with attorneys and trustees of their choice. It is intuitive to use and interfaces with all major mortgage loan-servicing platforms. You share foreclosure and bankruptcy loan information from the desktop reducing the need for telephone calls, faxes and shipping.
LenStar also automates the ordering of title, AVM and BPO evaluations. Paperless referrals take a fraction of the time customarily required, in addition to eliminating mail cost, copier cost and filing. Timely turnaround reduces risk, improves customer satisfaction, and reduces the accrued daily interest and overall loan servicing costs.