Lender Processing Services Inc. (LPS) announced its acquisition of Rising Tide Auctions, which will expand the asset management offerings of LPS and allow the company to provide comprehensive property auction solutions to help servicers minimize REO timelines and reduce costs. Furthermore, the company said the real estate buyers and investors will be provided with the ability to buy individual or multiple bank-owned properties directly from the REO disposition service provider.
Additionally, the company stated that servicers working with LPS Auction Solutions will benefit from the company's ability to manage all aspects of the auction process from beginning to end, including data collection, property due diligence, open house showings and the auction event.
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