Tag Archives: processing

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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Bill Encourages Making Horse Sausage in Tennessee

Legislation to encourage horse slaughterhouses in Tennessee won approval of a House committee Tuesday, five months after Congress lifted what amounted to a national ban on processing the animals for food.
As introduced by Rep. Andy Holt, R-Dresden, HB3619 simply called on the state commissioner of agriculture to keep statistics on horses on a website.
As amended before approval by the House Agricuture Committee, it instead erects a legal hurdle for lawsuits against horse slaughterhouses and inserts into law a declaration that “the General Assembly intends to encourage the location of equine slaughter and processing facilities in Tennessee that meet all sanitary, safety and humane slaughter requirements.”
Under the proposed new law, anyone filing a lawsuit to challenge issuance of a permit for horse slaughter would have to post a surety bond equal to 20 percent of the estimated cost of building the facility or, if it is already open, to its operational costs.

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