LPS Comes To Terms With The DOJ

Posted by Orb Staff on February 18, 2013 No Comments
Categories : Residential Mortgage

Lender Processing Services Inc. (LPS), a provider of technology and services to the mortgage and real estate industries, says it has entered into a non-prosecution agreement with the U.S. Department of Justice (DOJ) that resolves inquiries made by the U.S. Attorney's Office for the Middle District of Florida.

‘The conclusion of the Justice Department's inquiry is another positive step for LPS,’ says 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.’

The settlement agreement includes a payment by LPS of $20 million to the U.S. Marshals Service and $15 million to the U.S. Treasury.

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