LPS Announces Acquisition of Auction Solutions Provider for Residential REO Properties

LPS Announces Acquisition of Auction Solutions Provider for Residential REO
Properties
Auction Component Expands Servicers' REO Disposition Options and Complements
Existing LPS Asset Management Offerings

JACKSONVILLE, Fla., Nov. 2 /PRNewswire-FirstCall/ -- Lender Processing
Services, Inc. (NYSE: LPS), a leading provider of integrated technology and
services to the mortgage and real estate industries, today announced its
acquisition of Rising Tide Auctions, which is known for its market-leading
property auction expertise and innovative property auction strategy. The
acquisition 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, real estate buyers and
investors will be provided with the ability to purchase individual or multiple
bank-owned properties directly from the nation's leading REO disposition
service provider.

Mortgage servicers have long relied on a wide range of default-related
solutions from LPS, including national field services, full-service asset
management, title and closing services, as well as bankruptcy and foreclosure
management. With the addition of property auction services through LPS,
servicers now have more REO management options from a single provider.

Additionally, 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. To help ensure timely REO dispositions,
the company also utilizes a comprehensive broker outreach program to encourage
broker participation in the auction events.

LPS Auction Solutions' technology and reporting capabilities play a critical
role in driving efficiency throughout the auction process and in keeping
participants well informed. Web-based technology is used to communicate
property details to potential buyers, enable the initiation of pre-emptive
sales and allow simultaneous online bidding. Reporting functionality keeps
servicers informed by providing access to sales metrics, auction day selling
data and post-auction escrow information.

"Rising Tide Auctions brings significant assets to LPS, including an
impressive team of executives with more than 30 years of successful property
auction marketing experience," said Chad Neel, president of LPS Asset
Management and Field Services. "By integrating property auction services with
LPS' other leading default solutions, we can offer our clients an unparalleled
toolset for managing and disposing of REO assets that delivers the best
overall results. This acquisition solidifies LPS' position as the leading
provider of asset management solutions."

LPS Auction Solutions takes a creative and comprehensive approach to auction
property marketing, including the development of compelling property sales
materials, as well as extensive outreach involving radio, television and print
advertising, direct mail and e-mail campaigns, public relations initiatives
and social media engagement.

"With access to a powerful array of promotional channels and our unique
understanding of local market conditions, we can quickly adjust our marketing
strategy for each individual auction," said Neel. "This helps ensure that
we're attracting the maximum number of potential buyers and investors to each
auction event."

"We have successfully auctioned commercial and residential properties through
Rising Tide Auctions and other related ventures for more than 20 years," said
Evan Gladstone, former executive managing director of Rising Tide Auctions and
Managing Director of LPS Auction Solutions. "As LPS Auction Solutions, we are
combining our deep auction experience with LPS' substantial reach in the
mortgage industry. By partnering with the leading provider in this industry,
we'll have the ability to leverage LPS' extensive capital and product
portfolio to deliver an unmatched offering for our clients."

For more information regarding LPS Auction Solutions, please contact Chad Neel
at
800-430-3320, ext. 8022.

About Lender Processing Services
Lender Processing Services, Inc. (LPS) is a leading provider of integrated
technology and services to the mortgage and real estate industries. LPS offers
solutions that span the mortgage continuum, including lead generation,
origination, servicing, workflow automation (LPS Desktop(TM)) portfolio
retention and default, augmented by the company's award-winning customer
support and professional services. Approximately 50 percent of all U.S.
mortgages by volume are serviced using LPS' Mortgage Servicing Package (MSP).
In fact, many of the nation's top servicers rely on MSP, including eight of
the top 10 and 14 of the top 20. LPS also offers proprietary mortgage and real
estate data and analytics for the mortgage and capital markets industries. For
more information about LPS, please visit www.lpsvcs.com.

SOURCE Lender Processing Services, Inc.

Media contact: Michelle Kersch, +1-904-854-5043, Michelle.Kersch@lpsvcs.com,
or Investor contact: Parag Bhansali, +1-904-854-8640,
Parag.bhansali@lpsvcs.com