Mortgage tech and default services firm Lender Processing Services (LPS) had accumulated $223.1 million in legal and regulatory expenses as of Dec. 31, 2012, according to the company's annual filing with the Securities and Exchange Commission.
This is the figure the firm came up with after considering all of LPS' settlements with state attorneys general over foreclosure and robo-signing issues and pending legal matters.
In its annual quarterly filing with the SEC, LPS admits that the firm incurred costs stemming from various settlements with government agencies and claims made by civil litigants who sued over allegations stemming from the firm’s default-related services. Some of the matters are still ongoing.
"We are continuing to litigate a complaint filed by the State of Nevada with respect to these matters," LPS wrote in its 10-K filing.
Additional expenses are possible the firm conceded, saying there is no assurance it will not face additional costs, expenses, penalties or fines stemming from regulatory, legislative or administrative changes.