Reply: Mortgage documents: Placeholder items were innocent
Posted: May 20, 2010 – 4:35pm Jacksonville.com
LPS is very involved in the Jacksonville community and highly values its role and reputation as a good corporate citizen.
Therefore, I believe it is vitally important to provide clarification to the May 14 article in The Florida Times-Union, “Florida Investigating ‘Bogus’ Foreclosure Records.”
The article discusses LPS’ subsidiary, Docx LLC, which provided a document preparation service to its customers and/or their attorneys from 2008 to 2009.
When a customer or its attorney requested that Docx prepare a document, Docx downloaded the information provided in the customer or attorney order into a pre-approved form provided by the customer or its attorney.
When preparing the documents, if specific pieces of information were not provided by the customer or attorney, Docx used the phrases “Bogus Assignee” and “Bad Bene” as highly visible placeholders that would then be replaced when the missing information was provided to Docx.
Unfortunately, on a few occasions, documents containing the placeholder phrases were inadvertently recorded before the field was updated.
While to our knowledge, none of these documents have been used in actual court proceedings, LPS deeply regrets this error.
However, these placeholder phrases had no other meaning other than to indicate that more information was needed. Docx is not a party to any court proceedings and our role ends when the prepared documents are returned to the attorney or customer.
In a separate matter, LPS reported in February that it identified a business process that caused an error in the notarization of certain documents, some of which were used in foreclosure proceedings. LPS immediately corrected the business process and believes it has completed the remedial actions necessary to minimize the impact of the error.
Finally, although LPS has not been contacted by the Florida attorney general regarding this or any other matter, LPS continues to express its willingness to cooperate with any governmental agency that contacts us.
president and CEO,
Lender Processing Services,
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