Lender Processing Services to hire 300 more for Hyd centre

Lender Processing Services Inc (LPS), an NYSE-listed company that provides technology, services, data and analytics to the mortgage and real estate industries, is planning to capitalise on the vast talent pool and infrastructure available at Hyderabad in India, according to Ramesh Mirakhur, general manager (servicing solutions and tech division).

The Florida-based company, which has a revenue run rate of close to $2 billion, had entered India with the acquisition of LendingSpace's facility in Hyderabad for an undisclosed sum in 2012. LendingSpace was set up by three entrepreneurs of Indian origin and used to sell its residential mortgage origination technology solutions in the US.

“We had in our fold close to 120 professional through the acquisition of LendingSpace. We had grown that to 200 now. Our idea is to ramp up this number to 500 in 12 months from now and extend it further,”Mirakhur said.

LPS Inc, which processes almost half of the $14-trillion mortgage transactions in the US, is looking at adding development and testing professional across the entire development lifecycle from the 40,000-sft Hyderabad facility during the next 3-5 years.

“At present, we are looking at India to create technologies using the talent and infrastructure here. The Hyderabad centre, which will be our innovation and operations facility, is right now screening and determining which other markets,  including India,  to sell our products,” Mirakhur said.