Yes, LORDSHIP is a Scrabble word!

Letter values in Scrabble US: L 1, O 1, R 1, D 2, S 1, H 4, I 1, P 3.

Is it a valid word?

LORDSHIP is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

a title used to address any British peer except a duke and extended to a bishop or a judge
the authority of a lord