LPS – Lender Processing Services President and CEO Reply to Bogus Assignee and Bad Bene: Mortgage Documents: Placeholder Items Were Innocent

Reply: Mortgage documents: Placeholder items were innocent

Now this chaps my ass… Letter to the editor anyone?

LPS is very involved in the Jacksonville community and highly values its role and reputation as a good corporate citizen.

Therefore, I believe it is vitally important to provide clarification to the May 14 article in The Florida Times-Union, “Florida Investigating ‘Bogus’ Foreclosure Records.”

The article discusses LPS’ subsidiary, Docx LLC, which provided a document preparation service to its customers and/or their attorneys from 2008 to 2009.

When a customer or its attorney requested that Docx prepare a document, Docx downloaded the information provided in the customer or attorney order into a pre-approved form provided by the customer or its attorney.

When preparing the documents, if specific pieces of information were not provided by the customer or attorney, Docx used the phrases “Bogus Assignee” and “Bad Bene” as highly visible placeholders that would then be replaced when the missing information was provided to Docx.

Unfortunately, on a few occasions, documents containing the placeholder phrases were inadvertently recorded before the field was updated.

While to our knowledge, none of these documents have been used in actual court proceedings, LPS deeply regrets this error. BULLSHIT

However, these placeholder phrases had no other meaning other than to indicate that more information was needed. Docx is not a party to any court proceedings and our role ends when the prepared documents are returned to the attorney or customer.

In a separate matter, LPS reported in February that it identified a business process that caused an error in the notarization of certain documents, some of which were used in foreclosure proceedings. LPS immediately corrected the business process and believes it has completed the remedial actions necessary to minimize the impact of the error.

Finally, although LPS has not been contacted by the Florida attorney general regarding this or any other matter, LPS continues to express its willingness to cooperate with any governmental agency that contacts us.


president and CEO,

Lender Processing Services,



4 Responses to “LPS – Lender Processing Services President and CEO Reply to Bogus Assignee and Bad Bene: Mortgage Documents: Placeholder Items Were Innocent”
  1. In Response to: http://jacksonville.com/opinion/letters-readers/2010-05-20/story/reply-mortgage-documents-placeholder-items-were-innocent

    I am a mother who has become an accidental activist, deeply anguished by the immoral actions of the perpetrators of America’s foreclosure crisis.

    Therefore, I believe it is vitally important to provide clarification to the letter to the editor in The Florida Times-Union by Jeff Carbiener, President and CEO of Lender Processing Services (LPS).

    LPS, puppet-master directing millions of American foreclosures per year, offers to its list of clients, which include the top foreclosure mills in the country, “document solutions” to expedite millions of foreclosures across our nation. LPS’s role in foreclosures is detailed here by a PA federal judge http://tinyurl.com/TaylorPABKOpinion.

    After an informal, cursory glance at the nationwide online public land records, my associates and I personally discovered over 40 mortgage documents with the phrases “Bogus Assignee” and “Bad Bene”. These documents can be examined and downloaded at http://ning.it/aokVrf.

    The great majority of today’s foreclosures are due to the civil and criminal frauds perpetrated upon the unsuspecting global public by Wall Street and their mortgage securitization scheme, dramatically worsened by the creation, peddling, and short selling collaterized debt obligations.

    Humans, fallible as we are, may inadvertently leave a “highly visible placeholder” in a legal document. It’s less likely that human error is the guilty culprit that caused the same people signing these documents to sign as officers of many different financial institutions, with wild variations to their witnessed and notarized signatures.

    Mr. Charbiener’s “no harm, no foul” defense willfully ignores the fact that these documents were created solely to prove the right of an entity to foreclosure on a family’s home. Often, these created documents are the only piece of evidence showing a certain bank has any rights to a piece of property.

    Remember, there is now a “Bogus” party who must transfer this land effectively and legally in order to clear the title to these properties. Good luck with that one!

  2. Stupendous Man - Defender of Liberty - Foe of Tyranny says:

    I can accept that the “bogus assignee” and “bad bene” are placeholders in a standardized form, intended to be cut and pasted out and replaced with different information. Please note the word “different.”

    There is still the issue of a broken chain of title, omission of intervening parties and assignments, conveyances into trusts years beyond the point they could possibly occur, and the fact that Fidelty/LPS/Docx assignments of mortgage purport sales, transfers and conveyances that are impossible.

    On the whole Carbieners comments are nothing but vacuous spin control.


  3. Andrea Guice says:

    I agree. BS! And, everyone needs to research the legal definition of “forgery!” do the homework people and become armed with the power to win against illegal bank foreclosures! Fight back!
    http://www.andreaguice. com

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