Nevada Attorney General Sues LPS
Lender Processing Services is the largest provider of mortgage default services in the United States, processing more than 50% of all foreclosures in America. Today, the Nevada Attorney General sued LPS, alleging it:
1. Engaged in a pattern and practice of falsifying, forging, and/or fraudulently executing foreclosure related documents, resulting in countless foreclosures that were predicated on deficient information;
2. Required employees to execute and/or notarize up to 4,000 foreclosure related documents every day;
3. Fraudulently notarized documents without ensuring that the notary did so in the presence of the person signing the document;
4. Implemented a widespread scheme to forge signatures on key documents, to ensure that volume and speed quotas were met;
5. Concealed the scope and severity of the document execution fraud by misrepresenting that the problems were limited to clerical errors;
6. Improperly directed and/or controlled the work of foreclosure attorneys by imposing inappropriate and arbitrary deadlines that forced attorneys to churn through foreclosures at a rate that sacrificed accuracy for speed;
7. Improperly obstructed communication between foreclosure attorneys and their clients; and
8. Demanded a kickback/referral fee from foreclosure firms for each case referred to the firm by LPS and allowed this fee to be misrepresented as “attorneys’ fees” passed on to Nevada consumers and/or submitted to Nevada courts.
These allegations are so powerful I see no need to elaborate. Instead, I’ll ask you this … if these things happened in Nevada, what are the chances they didn’t happen in Florida and every other state?
Mark Stopawww.stayinmyhome.com
Posted in Main | 3 Comments »