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Lender Processing Services and Justice Department Announce Non-Prosecution Agreement



  Lender Processing Services and Justice Department Announce Non-Prosecution
                                  Agreement

PR Newswire

JACKSONVILLE, Fla., Feb. 15, 2013

JACKSONVILLE, Fla., Feb. 15, 2013 /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 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.

(Logo:  http://photos.prnewswire.com/prnh/20120802/FL50731LOGO)

The settlement agreement includes a payment by LPS of $20 million to the
United States Marshals Service and $15 million to the United States Treasury.
As part of this agreement, LPS confirmed its ongoing commitment to compliance
and internal controls. On Feb. 7, 2013, the company announced its fourth
quarter 2012 financial results, including a legal reserve balance of $223
million covering this settlement and others announced previously.

"The conclusion of the Justice Department's inquiry is another positive step
for LPS," said Hugh Harris, LPS president and CEO. "Coupled with recent
settlements with multiple state attorneys general, as well as other
litigation, LPS has effectively dealt with its legacy issues related to past
business practices and is squarely focused on delivering leading
technology-driven solutions to enable the mortgage industry to meet its new
requirements."

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
mitigate risk.

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
markets industries.

LPS is a Fortune 1000 company headquartered in Jacksonville, Fla., and employs
approximately 8,000 professionals. For more information, please visit
www.lpsvcs.com.

 

SOURCE Lender Processing Services, Inc.

Website: http://www.lpsvcs.com
Contact: Media: Michelle Kersch, +1-904-854-5043, Michelle.kersch@lpsvcs.com;
or Investor contact: Nancy Murphy, +1-904-854-8640, Nancy.murphy@lpsvcs.com
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