LPS Settles DocX Robo-Signing Litigation with 46 States

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Posted To: MND NewsWire

Lender Processing Services will pay an aggregated sum of $127 million to resolve suits with 46 states and the District of Columbia arising out of activities of its former subsidiary DocX LLC . The company previously announced settlements with three other states, leaving a complaint filed by the Attorney General of Nevada as the only unresolved issue. In addition to the cash LPS confirmed its ongoing commitment to stronger compliance and oversight of its operations - and to continue its remediation efforts. The complaints alleged that DocX implemented what the U.S. Justice Department, in a related action, called a six-year scheme to prepare and file more than 1 million improper mortgage documents . The former CEO of DocX, Lorraine Brown, pled guilty in federal court last November to participating...(read more)

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Source: http://www.mortgagenewsdaily.com/01312013_lps_robo_signing.asp

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