Former LPS Executive Pleads Guilty in Robo-Signing Case

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Posted To: MND NewsWire

A former executive of Lender Processing Services, Inc. (LPS) pled guilty Tuesday to mail and wire fraud charges, admitting her participation in a six-year scheme to prepare and file more than 1 million improper mortgage documents as part of the so-called robo-signing scandal. Lorraine Brown, former CEO of DocX LLC, a subsidiary of LPS, faces a maximum penalty of five years in prison and a $250,000 fine, or twice the gross gain or loss from the crime. The date for her sentencing has not been set. The guilty plea, entered in Jacksonville, Florida federal court where LPS headquarters are located, was announced by Assistant U.S. Attorney General Lanny A. Breuer who said, "Lorraine Brown participated in a scheme to fabricate mortgage-related documents at the height of the financial crisis. She was...(read more)

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Source: www.mortgagenewsdaily.com

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