Comments on: Lender Processing Services Settles Robo-Signing Allegations with 46 States for $121 Million

By: no names, please

no names, please — Fri, 01 Feb 2013 19:09:37 +0000

Let’s do the math. By 2006 (two thousand SIX), Lender Processing Services was–according to its newsletter, the Summit–producing ONE THOUSAND phony documents PER DAY.
Okay, let’s say it continued to reach production milestones, milestones that were similar to the run up numbers it produced in 2005, 2004, 2003, 2002, 2001. Let’s say–because math has never been my strong suit–that it produced 250,000 documents each year from 2006 through 2010–five years. That’s 1.25 million documents. Let’s say that in the five years from 2001 through 2005 it produced, oh, 750,000 documents, making the total completely phony, b.s. documents produced by Lender Services around TWO MILLION. Everybody with me so far?
If half of those documents were foreclosure-related, and half of the half resulted in someone’s house being improperly foreclosed on, then you’re looking HALF A MILLION HOMES that were foreclosed on using LPS’s totally phony documentation. This fine means that LPS’s fraud cost it $262 PER HOME that was foreclosed on due to its fraud. Gee. $262 for each home….

By: Kim Wilson

Kim Wilson — Fri, 01 Feb 2013 17:19:55 +0000

Documents should not be allowed to be changed again but an amendment attached and filed. This should only be allowed in cases where history has not past the point of this action being relevant to other actions, that have taken place, after the fraudulent document was created. If actions have transpired, based on the fraudulent document, then this settlement is just assisting the perpetrator, with deceptive practices and making a bigger mess of the paper trail. Write the government a check and all the lives you have messed up in the courts, we will just forget about it. We will let you alter history instead of amend history and make the problem worse. Who is going to end up with the majority of the settlement money? People that have not been harmed yet or people that have never been harmed like first time home buyers or for legal assistance for people in the future that again have not no relevance to past wrong actions? Not the people that were harmed that deserve 100% of the money. The people that have not been harmed yet are a new group for the next settlement. Giving any of the money to any party other than the victims of the settlement is wrong, stupid, selfish and bad leadership. It makes me sick to see the Attorney General settlements in Florida wanting to use the AG settlement money with the banks to help first time home buyers that have never been harmed by a bank. This money is being split up and fought over by irrelevant government parties to try and think up irrelevant parties to give the money to while giving SOME of the real victims receive a pathetic pittance. The victims are watching this with disgust. Give the money to the victims and stop squandering it. (Past victims only, not future victims, they have their own case, it starts all over with lack of regulation and supervision) Who is going to jail at LPS after all these findings? How much did they make since 2001 with the list of problems above compared to the settlement amount? In other words, how many millions or billions was this profitable for LPS? LPS is a large part of this problem that got so bad.

By: no names, please

no names, please — Fri, 01 Feb 2013 15:22:53 +0000

This is crap.
LPS (or whatever it was called) has been doing this for years, and certainly as far back as 2001, which anyone who has read their newsletter, The Summit (available on scribd.com), knows.

By: westcoastliberal

westcoastliberal — Fri, 01 Feb 2013 00:11:47 +0000

Doesn’t sound like much of a “settlement” to me, just $121 Million, compared to the millions of homes that now have a clouded title. And how much of the $121 Million is compensation for all those screwed-over homeowners? Probably none of it. This is hooey.