UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported):
April 12, 2011
Lender Processing Services, Inc.
(Exact name of Registrant as Specified in its Charter)
(Commission File Number)
On April 12, 2011, we entered into a consent order (the “Order”) with the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency and the Office of Thrift Supervision (collectively, the “banking agencies”) in connection with their review of matters relating to the mortgage servicing industry, including the services provided to mortgage servicers by our DocX and Default Solutions operations. This review included document execution services we provided to mortgage servicers regulated by those agencies (“Servicers”). The Order does not make any findings of fact or conclusions of wrongdoing, nor does LPS admit any fault or liability. The Order requires further study of the issues identified in the review and enhancement of oversight, compliance, audit and risk management plans with respect to those businesses. We will engage an independent third party to conduct a risk assessment and review of our default management businesses and the document execution services we provided to Servicers from January 1, 2008 through December 31, 2010. To the extent such review requires additional remediation of mortgage documents, we have agreed to implement an appropriate plan to address the issues. The Order does not include any fine or other monetary penalty, although the banking agencies have not yet concluded their assessment of whether any civil money penalties may be imposed.