NOTE: This agreement was not out in the public.
Via JN
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 founder and former president of DOCX, Lorraine Brown.
Specifically, LPS will pay $1.5 million into the Missouri state treasury and will pay $500,000 to the Merchandising Practices Revolving Fund of the Attorney General’s Office as reimbursement for the costs of the investigation.
DOCX earned approximately $363,000 in total revenue from the execution and filing of mortgage-related documents in the state of Missouri for the years 2008-2010. Consequently, LPS’s payment of $2 million to the state is well in excess of the revenue earned by the company in the state of Missouri during the relevant time period, and is approximately two and a half times the amount that could be obtained as a result of convictions on the previously pending indictments. LPS discontinued the operations of DOCX in May 2010. LPS terminated Lorraine Brown in November 2009.
[ipaper docId=106278945 access_key=key-2dnpkev5tddpzwcxx0m6 height=600 width=600 /]
© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.