{"id":17769,"date":"2013-09-17T22:18:25","date_gmt":"2013-09-18T05:18:25","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=17769"},"modified":"2013-09-17T22:18:25","modified_gmt":"2013-09-18T05:18:25","slug":"lender-processing-services-rise-from-foreclosuregate","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2013\/09\/17\/lender-processing-services-rise-from-foreclosuregate\/","title":{"rendered":"Lender Processing Services Completes Its Rise From Foreclosuregate"},"content":{"rendered":"

(This is an excerpt from an article I originally published on Seeking Alpha on May 23, 2013. Click here to read the entire piece<\/a>.)<\/strong><\/p>\n

I have followed Lender Processing Services (LPS) for what seems like a very long time, a near lone voice on Seeking Alpha banging the table for LPS as a recovery play (see for example “Settlement By Lender Processing Services Clears Major Overhang<\/a>” in early February). So, I find it a bit gratifying that all the work and patience have paid off, capped by news<\/a> that Fidelity National (FNF) is joining with Thomas H. Lee to buy back LPS. LPS was spun off FNF just five years ago, so I find this M&A deal a bit surprising. I certainly was not anticipating anything like it. <\/p>\n

The buyout value for LPS is supposedly around $2.9B. That prices LPS shares around $34. That just happens to be the price of LPS right before “foreclosuregate” broke<\/a>, an appropriately symbolic completion of the company’s rise from foreclosuregate:<\/p>\n


\n
\"LPS<\/a>
LPS had still been trying to recover its pre-foreclosuregate price<\/figcaption><\/figure>
\nSource: FreeStockCharts.com<\/a><\/strong>
\n<\/center><\/p>\n

{snip}<\/p>\n

One eyebrow raising moment was the announcement that John Snow, former Secretary of the Treasury and President of JWS Associates had joined the LPS Board of Directors. I considered this a huge win and vote of confidence in the company. Now this move seems even more interesting coming just weeks ahead of this news of a potential acquisition. I also took great interest in an expanded contract with the Federal Reserve Board to provide mortgage data aggregation.<\/p>\n

{snip}<\/p>\n

Be careful out there!<\/p>\n

(This is an excerpt from an article I originally published on Seeking Alpha on May 23, 2013. Click here to read the entire piece<\/a>.)<\/strong><\/p>\n

Full disclosure: long LPS<\/p>\n","protected":false},"excerpt":{"rendered":"

(This is an excerpt from an article I originally published on Seeking Alpha on May 23, 2013. Click here to read the entire piece.) I have followed Lender Processing Services (LPS) for what seems like a very long time, a near lone voice on Seeking Alpha banging the table for LPS as a recovery play … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[220,35],"tags":[1233,1234,435,436,1133],"class_list":["post-17769","post","type-post","status-publish","format-standard","hentry","category-earnings","category-housing","tag-fidelity-national","tag-fnf","tag-lender-processing-services","tag-lps","tag-merger-and-acquisition"],"yoast_head":"\nLender Processing Services Completes Its Rise From Foreclosuregate - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2013\/09\/17\/lender-processing-services-rise-from-foreclosuregate\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lender Processing Services Completes Its Rise From Foreclosuregate - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"(This is an excerpt from an article I originally published on Seeking Alpha on May 23, 2013. 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