Lender Processing Services (LPS) Responds to Nevada Attorney General Criminal Indictments

LPS Responds to Nevada Attorney General Announcement

JACKSONVILLE, Fla., Nov. 17, 2011 /PRNewswire/ — Lender Processing Services has previously disclosed that since 2010, the company has conducted reviews of the processes used in the signing and notarization of documents used in foreclosure proceedings. LPS recently learned of an inquiry from the Nevada Attorney General into its document execution practices and expressed its willingness to fully cooperate with the investigation. Earlier this month, the Attorney General’s office confirmed that the company was not a target of this inquiry.

The Nevada Attorney General has elected to charge two Lender Processing Services (NYSE: LPS) employees for document execution and notarization practices related to notices of default and deeds of trust filed in Clark County, Nevada from 2005 to 2008. ┬áBased on the company’s reviews, LPS acknowledges the signing procedures on some of these documents were flawed; however, the company also believes these documents were properly authorized and their recording did not result in a wrongful foreclosure.

Properly authorized? Is that the best you can come up with? Who “authorized” the employees to commit crimes? Was it you?

And as for the “recording did not result in a wrongful foreclosure.” Um, yes it did. If you broke the law to take someones home that is wrongful. Is it not? I don’t want to hear that “the borrower was seriously delinquent,” or they have been in their house for two years without making a payment. That does not allow you thief’s to come in and steal someones home illegally. I hope you all rot in hell…

Bet your glad you just took on this new position…

“I am deeply committed to ensuring that LPS meets rigorous standards of professional conduct and operating excellence,” said newly appointed LPS President and CEO Hugh Harris. “I have full confidence in the ability of our leadership team and more than 8,000 dedicated employees to deliver on that commitment.”



8 Responses to “Lender Processing Services (LPS) Responds to Nevada Attorney General Criminal Indictments”
  1. neidermeyer says:

    I wonder if this has had anything to do with LPS’s drop in the stock market this week?

  2. He Vents says:

    Fraud Processing Services exists for one purpose, as does all business. Can anyone find the line that’s been crossed? When we realize a business model that damages and destroys do we continue to embrace it because our survival depends on it?

  3. Why the LPS company and the previous and current President and CEO were not a target of this inquiry???

  4. Beth A. says:

    Michigan’s AG will do nothing. Silence. Heck, the gov’s office just appointed the head of a Robo-Signor firm into a nice little position. I thought I was going to throw up when I read that — me and every other resident in MI. All it takes is some good campaign donations — and you can get whatever you want these days (not all states…but many). Very, very sad.

  5. Hell No - No More Bleeping Bankster Bailouts says:

    Gee, we could have a free-for-all with all the LPS staff, from top to bottom: Find out if any LPS staff own any property and file a maverick substitution of Trustee and then assign the Deed of trust to some bogus trust. Let them deal with a messed up chain of title.

    NOT that I’m saying to DO this, but for LPS to claim that they did nothing that really effected any borrower, they should PERSONALLY EXPERIENCE the problems they are actually causing with CLOUDED TITLES.

  6. James Hunter says:

    It reminds me of the mortgage fraud indictments. They indict the little guys to move up the food chain. This will surely get the banks attention.

  7. Ron Moss says:

    Nevada leads the way to the rest of the AG’s Eric Schneiderman will bring up the rear. It is jail time for the criminals all of them How can I teach my seven kids respect for the law if we let one get away.

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