LPS Enters Non-Prosecution Agreement with DoJ
Lender Processing Services Inc., Jacksonville, Fla., a provider of integrated technology and services to the mortgage and real estate industries, has entered into a non-prosecution agreement with the U.S. Department of Justice that resolves inquiries made by the U.S. attorney's office for the Middle District of Florida.
The settlement agreement includes a payment by LPS of $20 million to the United States Marshals Service and $15 million to the Treasury.
As part of this agreement, LPS confirmed its ongoing commitment to compliance and internal controls. It also noted that its fourth-quarter 2012 financial results included a legal reserve balance of $223 million covering this settlement and others announced previously.