$35 Million Payout Florida Based Lender Processing DocX

$35 Million Payout Florida Based Lender Processing DocX

A $35 Million payout in Florida based LPS Lender Processing Services Inc. subsidiary DocX LLC has been agreed upon. DocX the subsidiary of LPS is a publicly traded Mortgage Servicing Company located in Jacksonville, Florida. LPS subsidiary DocX has agreed to pay $35 Million in criminal penalties and forfeiture in a six-year scheme to prepare and file more than 1 million fraudelently signed and notarized mortgage related documents with the property recorder's office. DocX LLC Lorraine Brown former CEO plead guilty to the leadership role in the conspiracy to commit mail fraud and wire fraud.

Docx LLC documents included mortgage assignments, lost note affidavits, lost assignment affidavits were later relied upon in court, property foreclosures, and Federal bankruptcy actions to ready more visit JACKSONVILLE DIVISION . The discovery of this disposition of DocX LLC as well as the other multi-billion dollar settlement is part of the efforts and implementation from our Chief and Commander President Obama Financial Fraud Enforcement Task Force (FEETF). FEETF was established to wage an aggressive proactive effort to investigate and prosecute fraud crimes for consumers. This is CHANGE that will help prevent issues not only now, but in the future and at the least provide a form of protection to current and future homeowners. Knowing there is a task force that will investigate your case is a sigh of relief for us after observing many homeowner victims that were not aware of the type of loan the entered into and were denied assistance to keep their home.

LPS REMEDY:
LPS has taken a number of actions to address misconduct of DocX including re-executing and re-file documents, firing Brown and others related conspiracy. LPS has obtained a independent consultant to review and report practices, legal compliance, and to establish a plan for reimbursing any financial injuries to mortgage servicing companies or borrowers. Look for updates of the process on compensation that maybe due to borrowers when available.

STOP FRAUD INITIATIVE:
Federal, State, and local authorities are involved with EEFTE to resolve financial crimes. Over 10,000 financial fraud claims against 15,000 defendants (2,900 mortgage fraud defendants) have been filed with the Justice Department. Do you need to file a claim or find out more about the FEETF? To find out more about President Obama's Fraud Enforcement Force go to FRAUD to address credit card, mortgage, and identify theft issues and to learn how to protection yourself visit FRAUD NOW!

FORECLOSURE HELP:

For foreclosure help No Obligation No cost options that could lower your loan amount go to: FORECLOSURE HELP

To sale a home you can't afford or get a Seller Financed Note Quote go to FREE NOTE QUOTE.