Company Details
LPS Auction Solutions helps servicers efficiently and effectively dispose of their REO properties with cost-effective, results-driven property auctions. LPS Auction Solutions has more than 30 years of real estate auction expertise and delivers the most comprehensive service offering available in the industry.
LPS Auction Solutions professionally manages every step of the auction sales process with the following:
• Data collection
• Property due diligence
• Open house showings
• Auction events
• Post-sale escrow management
LPS Auction Solutions also invests in comprehensive broker outreach programs with competitive commission rates that encourage broker participation in the promotion of auction events.
LPS Auction Solutions’ systems quickly generate individual property Web pages to make property details viewable online by interested parties prior to the auction event. The “Buy It Now” option enables potential buyers and investors to initiate pre-emptive sales over the Internet. A “Bid Now” option also enables simultaneous online dynamic bidding as soon as properties are available.
Servicers have access to a variety of pre- and post-auction reports that include sales metrics, auction-day selling data and post-auction escrow.
Servicers have access to a variety of pre- and post-auction reports that include sales metrics, auction-day selling data and post-auction escrow.
With LPS Auction Solutions, servicers can work smarter and reduce costs well beyond the auction process by tapping into the depth and breadth of Lender Processing Services’ (LPS) technology and solutions. Servicers have access to additional industry-leading REO disposition solutions including:
• National field services
• Full-service asset management
• Title and closing services
• Complete default management solutions
• Technology and services to support foreclosure and bankruptcy management
• REO asset management and disposition
• Real estate technology solutions, like Paragon MLS system
• The industry’s most comprehensive data repositories of
Key Personnel
Chad Neel
Chad Neel is Senior Managing Director of LPS Asset Management Solutions, LPS Auction Solutions, and LPS Field Services. He is responsible for driving each division’s strategy to provide the highest value of services to meet the specific goals and objectives of their clients.
Before joining LPS Asset Management Solutions in 2003, Chad was president and CEO of IMX, Inc., a leading provider of software solutions for the mortgage industry. Previously, he held senior management positions at The Money Store, First Nationwide Mortgage Corporation and FGB Realty Advisors, Inc.
A frequent guest speaker and contributor to industry publications, he holds a BS degree in Finance from Oklahoma State University, and works out of the company’s main office in Westminster, Colorado.
Greg Austin
Greg Austin is Senior Vice President of Sales for LPS Auction Solutions, and is responsible for leading all sales initiatives and alliances within the auction business channel.
Greg has a long, successful track record of setting sales strategies and leading sales organizations. Before joining LPS, Greg led the national sales organization of Mortgage Outreach Services (MOS Group) with a focus on loss mitigation services. Prior to MOS Group, Greg also held similar sales management roles with Credit Suisse and Aurora Loan Services, a Lehman Brothers company.
Greg and his family reside outside San Francisco, in the city of San Ramon.
About HousingWire
HousingWire is the nation's most influential publication focused on the real estate economy. We help tens of thousands of housing, finance and investment professionals each month better understand how the world around them will influence their work, investments and lives.