LPS settles with Delaware AG over DocX loan documentation allegations

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California is expected to receive approximately $12 billion in principal write-downs, including through short sales, over the next three years, according to the state attorney generals office. The deal settles potential state charges about allegations of improper foreclosures based on robo-signing, seizures made without proper paperwork.

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SOLUTIONS, INC., a Delaware Corporation, and DOCX, LLC, a georgia limited liability company, Defendants. 13 001512 Case No.—–. The Attorney General and LPS are represented by counsel and have agreed on a basis for. practices as they relate to Mortgage Loan Documents as well as LPS’ relationships with

a Delaware Corporation; LPS DEFAULT SOLUTIONS, INC., a Delaware Corporation, and. The Attorney General and LPS are represented by counsel and have agreed on a basis for. employees signed Mortgage Loan Documents in the name of other DocX employees, who were.

To enforce the National Mortgage Settlement, Attorney General created the California Monitor Program in March 2012. The Attorney General appointed Professor Katherine Porter, a professor at UC Irvine School of Law, as the California Monitor to independently oversee and monitor the bank servicers’ compliance with the settlement.

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The Justice Department statement explained that over a 6-year period ending in 2009, employees of DocX falsified signatures on mortgage-related documents. Brown and others at DocX were accused of directing authorized signers to allow unauthorized staff to sign and have documents notarized in order to increase profits.