LPS, Delaware AG Reach Settlement Over Robo-Signing Investigation
Lender Processing Services has reached a settlement with the Delaware attorney general related to the state’s investigation of robo-signing practices by the company’s subsidiary DocX.
As part of the settlement, LPS, Jacksonville, Fla., will pay the state $150,000 in lieu of penalties and reimburse $100,000 to the attorney general’s office for fees and costs pertaining to this investigation.
Also, LPS and its now-defunct subsidiary DocX are no longer liable for document execution practices that occurred in Delaware.
"This settlement is another important step in our continuing efforts to resolve legal and regulatory issues related to the operations of DocX, which we closed in 2010," said Hugh Harris, president and chief executive officer of LPS in a press release.
"LPS remains focused on resolving all remaining legal and regulatory challenges as expeditiously as possible, and is committed to ensuring that we continue to operate with integrity and compliance in everything we do."
Besides Delaware, the mortgage technology services provider and DocX have faced robo-signing investigations in Missouri and Nevada. LPS resolved the Missouri investigation in August.