Mortgage technology services provider Lender Processing Services (LPS) settled a major investigation launched by the Delaware Attorney General against its DocX subsidiary.

The investigation, which centered around the firm’s loan document execution practices, ended with LPS agreeing to pay the state $150,000 in lieu of penalties and reimburse the Delaware AG’s office in the amount of $100,000 to cover fees and costs of the probe.

In addition, the agreement releases DocX and its parent company, LPS, from potential liability related to its document execution practices in Delaware.

“This settlement is another important step in our continuing efforts to resolve legal and regulatory issues related to the operations of DocX, which we closed in 2010,” said Hugh Harris, president and chief executive officer of LPS.

“LPS remains focused on resolving all remaining legal and regulatory challenges as expeditiously as possible, and is committed to ensuring that we continue to operate with integrity and compliance in everything we do.”

In August, LPS ended a criminal probe launched by the Missouri AG over the handling of loan documents and robosigning.

LPS offered to pay $1.5 million to the state and agreed to reimburse the state AG’s office in the amount of $500,000 in fees for the investigation.

kpanchuk@housingwire.com

Most Popular Articles

NAR bans “pocket listings”

The National Association of Realtors board of directors voted 729-70 on Monday to ban the controversial practice of “pocket listings.”

Nov 12, 2019 By

Latest Articles

HW Tech100, growth through focus

Each year, HousingWire publishes HW Tech100, a list that recognizes the 100 most innovative and impactful technology companies in the housing industry. This list includes companies at all stages and often has solutions for mortgage origination, loan servicing, secondary markets, real estate agents, valuations, multifamily and real estate investing…to name a few.  The goal of […]

Nov 19, 2019 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please