COLORADO IN $1.8M SETTLEMENT WITH LENDER PROCESSING SERVICES

(The following press release from The Office of Colorado AG John W. Suthers. 
The sender verified the statement.) 
Colorado Department of Law
Attorney General John W. Suthers 
October 29, 2012 
CONTACT
Carolyn A. Tyler
Carolyn.Tyler@state.co.us<mailto:Carolyn.Tyler@state.co.us>
303-866-5632 
ATTORNEY GENERAL ANNOUNCES $1.8M SETTLEMENT WITH LENDER PROCESSING SERVICES 
OVER MORTGAGE LOAN SERVICES DOCUMENT PREPARATION 
DENVER-Colorado Attorney General John 
Suthers<http://www.coloradoattorneygeneral.gov/> today announced that the State 
of Colorado will receive $1.8 million as part of a settlement with Lender 
Processing Services, Inc. (NYSE: LPS) for past document execution practices by 
LPS subsidiaries DocX, LLC and LPS Default Solutions, Inc. Florida-based LPS 
provides technology and other services to mortgage loan servicers. 
During a period from January 1, 2008 to December 31, 2010, certain residential 
mortgage loan servicers authorized specific persons employed by LPS 
subsidiaries DocX and LPS Default Solutions to sign or assist with the 
execution of mortgage-related documents, including lost instrument affidavits, 
deed of trust lien releases, and assignments of deeds of trust. Some of the 
mortgage -related documents generated or executed by LPS subsidiaries contained 
defects such as unauthorized signatures and improper notarizations. 
"This settlement with LPS is part of our on-going investigation into all facets 
of the foreclosure process in Colorado," said Suthers. "It is important that 
the foreclosure process work as intended and that borrowers and the legal 
system have confidence in it." 
Between March 1, 2009 and November 1, 2009, employees and agents of DocX were 
directed by management of DocX to implement a program under which some DocX 
employees signed mortgage-related documents in the name of other DocX 
employees, who were or had been at one time authorized to sign on behalf of 
certain mortgage servicers. DocX referred to these signers as "surrogate 
signers," who then executed certain mortgage-related documents in the name of 
other DocX employees without indicating that the document had been signed by a 
surrogate signer. 
As part of the settlement, LPS and its subsidiaries agree not to engage in any 
surrogate signing program or execute any mortgage-related documents without an 
affiant's review and personal knowledge of the accuracy and completeness of the 
statements in the documents. LPS and its subsidiaries also will ensure that any 
mortgage-related document that is executed on behalf of a servicer is done 
pursuant to proper and verifiable authority to sign on behalf of the servicer. 
The settlement funds will be used for programs related to foreclosure 
prevention, loan modification and housing, to reimburse the Colorado Attorney 
General's Office for its attorney fees and costs, and for future consumer 
protection and antitrust enforcement and education efforts in the state. 
(bjh) NY
 
 
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