Lender Processing Services Announces Settlement With Colorado Attorney General
JACKSONVILLE, Fla., Oct. 29, 2012
JACKSONVILLE, Fla., Oct. 29, 2012 /PRNewswire/ --Lender Processing Services,
Inc. (NYSE: LPS), a leading provider of integrated technology and services to
the mortgage and real estate industries, today announced that it has reached a
settlement with the Colorado Attorney General, that concludes the State's
investigation of the former document execution practices by LPS subsidiaries.
The terms of the settlement provide for, among other things, a payment of $1.3
million and reimbursement of $500,000 for fees and costs to the Colorado
Attorney General's Office. The terms of the settlement also provide for a
release of potential liability of LPS and its subsidiaries related to past
document execution practices in Colorado.
"This settlement is another important step in our continuing efforts to
resolve legal and regulatory issues related to past, discontinued document
execution practices," said Hugh Harris, president and chief executive officer
of LPS. "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."
About Lender Processing Services
Lender Processing Services (NYSE: LPS) delivers comprehensive technology
solutions and services, as well as powerful data and analytics, to the
nation's top mortgage lenders, servicers and investors. As a proven and
trusted partner with deep client relationships, LPS offers the only end-to-end
suite of solutions that provides major U.S. banks and many federal government
agencies the technology and data needed to support mortgage lending and
servicing operations, meet unique regulatory and compliance requirements and
These integrated solutions support origination, servicing, portfolio retention
and default servicing. LPS' servicing solutions include MSP, the industry's
leading loan-servicing platform, which is used to service approximately 50
percent of all U.S. mortgages by dollar volume. The company also provides
proprietary data and analytics for the mortgage, real estate and capital
LPS is a Fortune 1000 company headquartered in Jacksonville, Fla., employing
approximately 8,000 professionals. For more information, please visit
SOURCE Lender Processing Services, Inc.
Contact: Investors: Nancy Murphy, +1-904-854-8640, firstname.lastname@example.org;
Media: Michelle Kersch, +1-904-854-5043, email@example.com
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