California Real Estate Fraud Report

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22
Feb

Giant LPS Pays $35 Million to Resolve Robo-signing by Subsidiary DocX

Lender Processing Services Inc. (LPS) has agreed to pay $35 million to close out criminal fraud violations involving fraudulently signed and notarized mortgage documents by its subsidiary DocX, according to the U.S. Department of Justice.

The non-prosecution agreement between LPS, the US DOJ and the U.S. Attorney’s Office for the Middle District of Florida requires LPS to pay $20 million to the United States Marshals Service and $15 million to the US Treasury.

Lorraine Brown, the former CEO and President of DocX, pleaded guilty to conspiracy to commit mail and wire fraud in federal court in Florida. She has further entered into a plea deal in Missouri and Michigan Attorney General Bill Schuette has announced Brown has pleaded guilty to racketeering. Brown and other DocX employees had been accused of ordering their authorized signers to get unauthorized employees to sign the documents and have them notarized (notary fraud) to pump up profits.

A similar multi-state agreement was entered into by Lender Processing Services in January for the same robo-signing accusations, as published by DSNews.

LPS’ motto, as per its website, is “Proven Expertise, Trusted Solutions.”

Read more about the $35 million settlement in DSNews.

 

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

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