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LPS Responds to Nevada AG’s Allegations

""Lender Processing Services, Inc."":www.lpsvcs.com/, has officially responded to the December complaint made by the ""Nevada Attorney General"":ag.state.nv.us/. In a company statement, LPS stated that it has filed a ""motion to dismiss,"" based on ""legal defects.""


LPS alleges that the recent civil complaint filed by the state's Attorney General should be dismissed due to ""prejudice."" Other important statements from LPS included the notation that ""the Attorney General's complaint fails to allege that any document executed by subsidiaries of LPS was incorrect, contained errors, or caused any borrower financial harm.""

Nevada Attorney General Catherine Cortez Masto announced the lawsuit against LPS on December 16, 2011. The legal maneuver, which was filed in the ""8th Judicial District of Nevada"":www.clarkcountycourts.us/, alleged that LPS engaged in deceptive practices against Nevada consumers, and specifically, the company was accused of falsifying documents, fraudulent notarization of documents, widespread foreclosure-related schemes, improper behavior related to attorney/client communication, and improper reception of ""kickback"" fees.

Commenting on the motion to dismiss, Hugh Harris, president and CEO of LPS, said, ""LPS filed this Motion to Dismiss in response to the allegations made by the Nevada Attorney General. Although we have to defend ourselves against allegations that we believe are untrue, we remain committed to working with the Attorney General's office to resolve these matters.""

LPS is considered a leading provider of integrated technology, services, and mortgage performance data and analytics to the mortgage and real estate industries. The company's most recent statistics suggest that around 50 percent of all U.S. mortgages by dollar volume are serviced using LPS' loan servicing platform.

About Author: Abby Gregory


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