Senator Requests DOJ Investigation of LPS Related to Fees, Double-Billing

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Posted To: MND NewsWire

According to the Wall Street Journal , Senator Ron Wyden (D-OR) has sent a letter to the Department of Justice requesting an investigation of Lender Processing Services (LPS) . The letter, sent yesterday to Attorney General Eric Holder, alleges that LPS may have used an improper fee structure for legal services related to the processing of foreclosures and bankruptcies. This structure, Wyden says, resulted in double-billing homeowners and mortgage investors. The Democratic Senator also said that actions by the firm may have directly led to the mass production of mortgage documents known as robo-signing . In January LPS settled a suit with 46 states and the District of Columbia over claims its now defunct subsidiary DocX engaged in a six-year scheme to prepare and file more than 1 million improper...(read more)

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Source: http://www.mortgagenewsdaily.com/03082013_lps_robo_signing.asp

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