Lender Processing Services (LPS) has opened its mortgage technology services facility in Hyderabad, India.
The new facility, which was added as part of a recent acquisition, will enable LPS to strengthen the delivery of Software-as-a-Service (SaaS) solutions.
The technology, services, data and analytics provider to the mortgage and real estate industries said today that it handles about 50 percent of all U.S. mortgages by dollar value.
LPS, which has revenue base of $1.8 billion, acquired the Hyderabad office as part of its acquisition of LendingSpace in 2012.
LendingSpace provides residential mortgage origination technology, including a unique correspondent lending platform that enhances collaboration between retail originators and their correspondent lending partners in the United States.
This new facility boasts 40,000 square feet and has space for further growth.
In addition to supporting LendingSpace platform, LPS India will provide development quality assurance for the company’s mortgage servicing solutions. This work will allow LPS to improve its development cycles, which will benefit LPS’ clients by allowing LPS to deliver products to its clients more quickly.
“We anticipate tremendous growth in the next 3-5 years, as well as the chance to work on emerging technologies that will leverage the talented professionals and infrastructure in India,” said Casey Williams, senior vice president of LPS’ Global Delivery Services.
LPS is planning to add development and testing professionals across entire development life-cycle during the next three to five years.
LPS currently has more than 7,000 employees.