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What Is an LSI Trustee?

When a homeowner does not pay her mortgage, the lender has the option to foreclose on the home. Rather than keeping the home for itself, the lender will often employ a trustee, such as LSI, to auction the home off to the highest bidder.

  1. LSI

    • LSI, a division of Lender Processing Services, is a nationwide company that assists mortgage lenders with data integration and other services. LSI will act as the trustee for the mortgage lender when a foreclosed property is up for auction.

    Function

    • A trustee operates for the benefit of another person or entity, known as the beneficiary. The trustee has a fiduciary duty to handle the beneficiary's property reasonably and prudently. Thus, when LSI is acting as a trustee for a mortgage lender, it will seek the highest possible price for the property at an auction.

    Significance

    • LSI has relationships with more than 25 mortgage lenders in the United States. If you see a legal notice of Trustee's sale in the newspaper, you might see LSI Title Agency, Inc. listed as the trustee. This means that LSI has signed a contract with the mortgage lender to act as the trustee in the sale of the foreclosed property.

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