Where Real Estate Gets Its Dirt

OnBoard officially ends its IDX data aggregation efforts

IDX ain’t easy. OnBoard Informatics learned that the hard way.

It’s been almost 2 months since Vendor Alley first broke this story. Now OnBoard Informatics has issued a press release confirming what Vendor Alley readers already knew.

Congrats to LPS Real Estate Group. Larry Ross, General Manager of Listing Aggregation for LPS REG, and his team have has been doing it, and doing it well, for quite sometime. Nice win!

Onboard Informatics Selects LPS Real Estate Group to Deliver Data Aggregation Services

By Stacey Ret, Director of Marketing

pressrealeaseNew York, NY. August 26, 2009 – Onboard Informatics, the premier data services provider to top-tier real estate, media and technology companies, has selected LPS Real Estate Group, Inc.’s Data Aggregation Services to process and standardize real estate data for Onboard Informatics’ clients. Formerly known as Cyberhomes and FNRES MLS, LPS Real Estate Group is a wholly owned subsidiary of Lender Processing Services, Inc. (NYSE:LPS), a leading provider of integrated technology and services to the mortgage and real estate industries.

The agreement between the two companies helps to speed the delivery of Multiple Listing Service (MLS) Internet Data Exchange (IDX) data to Onboard and its customers. LPS Real Estate Group provides data services for clients using its standardization process for millions of active property listings from more than 400 MLS boards across the country. When Onboard completes its licensing agreement with a new MLS area, LPS Real Estate Group will quickly deliver its comprehensive data aggregation services, which include importing MLS listing data from hundreds of different systems, placing the data and photos into standardized formats, checking the files for corruption and validating key elements like addresses. By completing the “heavy lifting” of complex data aggregation and formatting, LPS Real Estate Group will dramatically reduce Onboard’s set-up time and expense.

The highly successful January 2009 launch of Onboard’s Lifestyle Listing Engine (LLE) resulted in a dramatic increase in demand to expand MLS market coverage. Onboard responded to their customers’ requirements by working with LPS Real Estate Group to reduce the time and expense needed to meet the expansion demand.

Marc Siden, CEO of Onboard, said: “Onboard’s new agreement with LPS Real Estate Group will allow our clients to quickly gain the benefit of a national MLS footprint. Our analysis determined that LPS Real Estate Group provided the most reliable, timely, cost-effective data aggregation service in the market. The relationship also will enable our highly qualified internal teams to continue to focus on what we do best – providing the best solutions to our client base through our unique and ever-evolving products and services.”

Commenting on the agreement, Larry Ross, General Manager of Listing Aggregation for LPS Real Estate Group, said: “We are delighted that Onboard has chosen us as their listing aggregation solution. We are confident that our data aggregation service, which is the most comprehensive in the industry, will allow Onboard to successfully meet its business objectives, and we look forward to a long and mutually beneficial relationship.”

About Onboard Informatics

Since 2001, Onboard Informatics has provided comprehensive local, regional and national real estate data solutions, powerful web tools and web services to some of the most innovative companies in real estate, media, and technology industries.

Onboard combines its expertise in data aggregation, standardization, and integration with expert consulting, transforming the complexity of data into meaningful solutions to support their clients in achieving business objectives. Privately held since its founding, Onboard is located in the heart of the world’s financial center in the Wall Street area of New York City. For more information about Onboard Informatics or to request a demo, visit www.onboardinformatics.com.

About Lender Processing Services

LPS is a leading provider of integrated technology and services to the mortgage industry. LPS offers solutions that span the mortgage continuum, including lead generation, origination, servicing, workflow automation (Desktop) portfolio retention and default, augmented by the company’s award-winning customer support and professional services. Approximately 50 percent of all U.S. mortgages by volume are serviced using LPS’ Mortgage Servicing Package (MSP). In fact, many of the nation’s top servicers rely on MSP, including eight of the top 10 and 14 of the top 20. LPS also offers proprietary mortgage and real estate data and analytics for the mortgage and capital markets industries. For more information about LPS, please visit www.lpsvcs.com.

The LPS Real Estate Group has relationships with more than 300 MLS organizations, 250 broker companies, settlement services companies, and more than 350,000 real estate professionals. The technology applications include innovative tools such as Paragon™; the reInsight™ collection; rDesk® Broker & Agent Suite of products; TransactionPoint®; DocCentral; Cyberhomes; the Real Estate & Living Media Network that generates revenue for its publishers; as well as a robust real estate property and tax database that includes 285 million residential and commercial property, ownership, sales, assessment and mortgage records. This represents detailed information on at least 92 percent of U.S. property ownership records in more than 2,000 counties with over 648,000 new ownership records added monthly. For more information about LPS Real Estate Group, please visit www.lpsreg.com.

# # #

Onboard Informatics Contact:

Stacey Ret, Director, Marketing
Onboard Informatics
sret at onboardinformatics dot com

LPS Real Estate Group Media Contact:

Laura Buser, VP, Marketing & Communications
Laura.buser at lpsvcs dot com

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