Lender Processing wins Wells Fargo/Wachovia integration deal

Source: Lender Processing Services, Inc.

Lender Processing Services, Inc. (NYSE:LPS), a leading provider of integrated technology and services to the mortgage industry, today announced that Wells Fargo Home Mortgage has entered into a multi-year consulting agreement with LPS.

As part of this engagement, Bob Caruso, executive vice president of Strategy and Business Development at LPS, will provide business management and consulting services to assist Wells Fargo in managing the Wachovia Pick-a-Pay portfolio.

"We are excited to have the benefit of Bob's skill and expertise, as well as the LPS organization working with Wells Fargo on this critical piece of the Wells/Wachovia merger," said Mike Heid, co-president, Wells Fargo Home Mortgage. "Bob worked for us at Wells Fargo for eight years, knows our mortgage business very well and has well-established relationships with our mortgage leaders."

Caruso will dedicate the vast majority of his time to Wells Fargo, however, he will continue to play an integral role with LPS, specifically in the areas of governmental relations and strategic planning.

"We are pleased to have this opportunity to expand our relationship with Wells Fargo, a leader in our industry," said Jeff Carbiener, president and chief executive officer of LPS. "Bob's 25 years of experience and depth and breadth of knowledge are an asset to LPS, and will help Wells Fargo achieve their business goals."

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