Lender Processing Services to Pay $2 Million Over Robo-Signing

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Lender Processing Services to Pay $2 Million Over Robo-Signing

Lender Processing Services to Pay $2 Million Over Robo-Signing

Business Week-

Lender Processing Services Inc. (LPS) (LPS) agreed to pay Missouri $2 million to resolve a case against its DocX LLC over so-called robo-signing of mortgage-related documents.

A Columbia, Missouri, grand jury in February handed down a 136-count indictment against Docx and founder Lorraine Brown alleging that a person whose name appears on 68 notarized deeds of release didn’t actually sign those papers, Missouri Attorney General Chris Koster said then.

“Under the agreement, LPS will pay the state of Missouri $2 million and will cooperate with the Attorney General’s Office in its continuing criminal investigation” of Brown, Koster said in an e-mailed statement today.

[BUSINESS WEEK]

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2 Responses to “Lender Processing Services to Pay $2 Million Over Robo-Signing”

  1. brian davies says:

    That is a cheap buy out for criminal charges. That is just 5 homes they stole with the fake papers. Good return on the investment of these $8.00 per hour employees. This is pitiful.

  2. Ricco Pitts says:

    Don’t tell me that crime does not pay. If you are in the banking/mortgage it can pay very well. I am seeing the fed’s go after the small real estate investors putting them in jail for six and more years. The lesson here is to make sure the crime will pay enought that you can pay off the shot callers in washingtson dc and you will never see the inside of a jail. It has made me sick. I would have never beleive that our system could be paid off to this degree. Local judges know the paperwork that the banks have is a fraud but do nothing to stop it. What I don’t think they see is just how John Q Public has come to veiw them. It is a sad day when a street walker has better values than our judges. It is also showing the public how our systems really works. They can forget the days when the public veiwed it as a level playing feild. The day is soon to be here when the public wakes up and understand that ro-bo signing, fabucating paperwork can be a two way street. What will happen with the public floods our courts with paperwork showing the mortgage was asigned to abc corp who’s owner is def LLC out of the bahama and then have it all notizine? How will our courts veiw it when both party has paperwork showing ownship. No one will know who owns what. They need to know, two can play at this game. Never think that just because you veiw it as a knife fight that the other side might just not show up with a gun, for what was to be a knife fight. The lesson here is to know before hand that our court system is no longer working. If you go in thinking that it is a fair system, a knife fight, you have to understand that the banks are going to have a gun. Shoot them, before they shoot you. Sad but true. USA 2012

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