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LPS Invoice Management

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LPS Invoice Management

This group is to discuss Fannie Mae outsourcers preferred invoice management company LPS. This group is also to share your experiences with LPS and to help each other stay up to date on their requirements and use of the system.

Website: http://reopro.ning.com/group/lpsinvoicemanagement
Members: 47
Latest Activity: Mar 7

LPS Company Information

Information is according to LPS invoice managements website.

 



Take me to Register...
System/Equipment Requirements
Sign in to Invoice Management. (existing users only)

LPS Desktop Invoice Management is proud to announce our partnership with the mortgage industry to provide the only electronic invoicing solution for all of your REO invoicing needs.

Invoice Management is the de facto industry standard business-to-business (B2B) electronic bill presentment solution in the mortgage industry. Fifteen of the top 20 prime Servicers (75%) and 16 of the top 20 sub-prime Servicers (80%) use Invoice Management to process their B2B invoices. We currently process over 250,000 invoices each month (3 million + invoices annually - over $140M in value) on behalf of our 9,000 vendors, 20,000+ online users and 50+ mortgage servicing clients.

For many years, we have supported the mortgage default industry with over 20 invoice types including Foreclosures, Bankruptcies, Property Preservations, Evictions, Valuations, and Property Inspections. We have just begun to offer our services to the mortgage default industry for REO Broker related services.

With Invoice Management, you do not need any special software. Invoice Management is an internet based (thin client) solution and only requires an acceptable internet browser. After you have subscribed to our service, we will provide training to you and your staff on how to use Invoice Management. Then, all you will need to do is log into our website to create your invoices and submit them to your mortgage servicer or outsourcer client, such as Fidelity National Asset Management Solutions, for immediate approval and processing for payment.

 

As a Broker, what will Invoice Management do for me?

Many servicers check our online registry regularly to see what brokers in a particular area or part of the country are registered to use Invoice Management. Although we cannot guarantee any new business, many of our vendors have stated they have received a growth in business due to the visibility we afford them in the market place.

 

Some of the many benefits Invoice Management vendors enjoy include:

1. Immediate delivery of your electronic invoice when it has been created, thus being immediately available for approval action.
2. No lost attachments to your invoices. Proof of payments and before & after photos are always viewable.
3. Faster reimbursement of submitted invoices.
4. Online status of every invoice anytime, anywhere you have the internet.
5. Reconciliation of submitted invoices and payments.
6. Archival storage of everything that has been submitted.

 

 

Invoice Management

LPS Desktop™ Invoice Management automates every aspect of the invoice process, from bill presentment to post-payment activities. Features include:

  • Web-based, user-friendly interface
  • Optional auto-approval and processing
  • Advanced workflow and business-rule customization 
  • Bi-directional servicing system interface
  • Integrated communication with provider network
  • Image attachments for receipts/checks/photos
  • Integrated fee/cost quote
  • Electronic payment (Auto Check Handling)
  • Client/Servicer/GSE guideline management
  • REO Broker modules
  • Includes: General Invoice Management, REO Broker, FLIP and Automated Check Handling (ACH) Processing and Workflow

For more information call 904.360.4111 today!

Discussion Forum

Which REO Companies use LPS Desktop Invoicing?

Started by Denise Stovall. Last reply by Ed Tobey Mar 8, 2013. 7 Replies

I am looking for REO Companies that use this LPS Desktop Invoicing?  I am in California and want to expand and use this platform.Continue

Tags: REO, LPS

Adding a new servicer to LPS

Started by Vanessa Calhoun. Last reply by Vanessa Calhoun Dec 21, 2011. 2 Replies

I've received a new asset from a new servicer who uses LPS. I need to submit some invoices, but they're not yet listed in My Servicers tab. Do I have to add them, have LPS add the new servicer, or…Continue

LPS Education

Started by Brandon Jordan Apr 10, 2011. 0 Replies

This is the link to login to LPS Inovice management education. https://lps.skillport.com/skillportfe//login.action    These link to…Continue

Tags: Education, LPS

LPS multiple websites

Started by Brandon Jordan Apr 10, 2011. 0 Replies

It is easy to get mixed up with what branch of LPS you are looking at. You will notice there are multiple websites for LPS. The first was the BPO side of LPS with LSI.  Transforming How Mortgage…Continue

Tags: websites, Multiple, LPS

Comment Wall

Comment

You need to be a member of LPS Invoice Management to add comments!

Comment by Justin Kim on April 14, 2011 at 2:35am
LPS desktop is used by Bank of America as well.  Very easy to use and their technical support is the best!
Comment by Brandon Jordan on April 10, 2011 at 2:16pm

The Invoice Management REO Broker Module

allows REO brokers to electronically submit invoices and supporting documentation. Once submitted, data is immediately available for servicer review, approval and payment. Vendors/brokers can view invoice payment status at any time.  

  • Web-based
  • Stores invoices and supporting documents indefinitely
  • Reduces or eliminates duplicate or lost invoices
  • Reconciles invoice submissions to invoice payments
  • Tracks invoice status on-line 24/7
  • Integrates with LPS Desktop Process Management and Enterprise Content Management

You can contact them by giving them a call 904.360.4111

 

If you are working with Fannie Mae outsourcers or have plans to this it is a good idea to go ahead and register with LPS invoice and take their traning to get in their database as a broker already working with LPS. I have found more outsourcers are moving to working with LPS. I have even seen some asking on broker applications now asking if you are working with LPS and to give your Company Code.

 

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