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TN Gets $2.3M in Lender Processing Settlement

News release from attorney general’s office:
Attorney General Bob Cooper today announced that Tennessee and 45 other Attorneys General have reached a $120 million multistate agreement with a national loan default servicing company and its subsidiaries.
Tennessee will receive approximately $2.3 million as a result of its complaint and agreed final judgment with Lender Processing Services, Inc. and its subsidiaries, LPS Default Solutions and DocX, which are being filed today in Davidson County Circuit Court.
The agreement resolves allegations that LPS, which primarily provides technological support to banks and mortgage loan servicers, was “robo-signing” documents and engaging in other improper conduct related to mortgage loan default servicing. The judgment requires LPS and its subsidiaries to reform its business practices and, if necessary, to correct documents it executed to assist the homeowner.

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