Florida-based ‘Robo-Signer’ Settles With Texas, 44 Other States Over Improper Mortgage Servicing

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    By Texas RealEstateRama -

    AUSTIN – February 1, 2013 – (RealEstateRama) — Texas Attorney General Greg Abbott today announced that Texas, 44 other states and the District of Columbia have concluded an extended, nationwide investigation into Florida-based Lender Processing Services Inc. (LPS) and its subsidiaries’ unlawful mortgage servicing practices. Under a multistate settlement agreement negotiated by the states, LPS and its subsidiaries must dramatically improve their loan servicing practices, only allow authorized corporate officers to sign foreclosure documents, and pay a $120 million penalty – including approximately $5.76 million for the State of Texas.

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