Senator Ron Wyden Asks Justice Department to Investigate Lender Processing Services (LPS)

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Senator Ron Wyden Asks Justice Department to Investigate Lender Processing Services (LPS)

Senator Ron Wyden Asks Justice Department to Investigate Lender Processing Services (LPS)

Lets see what happens because there is also a possible conflict with Holder’s law firm Covington & Burling here!

WSJ-

A U.S. senator has asked Attorney General Eric Holder to investigate the business practices of a company that provides technology services to lenders and other companies that process foreclosures.

In a letter sent to the Department of Justice on Thursday, Sen. Ron Wyden (D., Ore.) raised concerns over the business practices of Lender Processing Services Inc. , a Jacksonville, Fla.-based company that offers software and logistical services for mortgage companies. The letter alleges that LPS employed an improper fee structure that resulted in double-billing homeowners or mortgage investors for legal services related to the processing of foreclosures and bankruptcies.

It also says that the firm’s business model may have been responsible for sowing what became known as “robo-signing,” where bank attorneys and paralegals improperly signed off on foreclosures.

[WALL STREET JOURNAL]

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One Response to “Senator Ron Wyden Asks Justice Department to Investigate Lender Processing Services (LPS)”

  1. Sarah says:

    No problem, Senator Jon Kyl just joined CB. His exit through the revolving-conflict-of-interest door should grease the wheels of justice. Oh that the doors of the elite should one day grace our backsides too.

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