North Carolina Register of Deeds to Hold Mortgage Fraud Press Conference

Guilford County Register of Deeds Jeff Thigpen will hold a press conference in the Blue Room in the Old Guilford County Courthouse on Wednesday, May 6th at 10 am. Thigpen will reveal the results of an internal investigation undertaken after a recent 60 Minutes segment which exposed fraudulent activity on the part of DocX, which is owned by Lender Processing Servicers …

Is the Balance on Your Mortgage Wrong?

Abigail Field at Daily Finance explains why homeowners (and the attorneys who represent them) need to scrutinize their mortgage debt–even those who aren’t facing foreclosure. We’ve known for years that mortgage servicers were misapplying, but some new information has come to light in the testimony of former LPS employee Adrian Lofton: Lofton traces the cause of the blatant rule-breaking to …

Outsourcing Foreclosure Work Causes More Problems than it Solves

Daily Finance recently took another look at Lender Processing Services (LPS) and the myriad problems handing off foreclosure work to non-attorney processing services creates. The case turning the spotlight on LPS this time is the Louisiana bankruptcy case of Ron and LaRhonda Wilson. The Wilsons, it seems, were current on their mortgage both times Option One asked the bankruptcy court …

Bootcamper’s Allegations Against LPS, Prommis Draw Media Attention

Bootcamper Nick Wooten filed a third amended complaint in Thorne earlier this week and drew immediate attention from Daily Finance.  The potential ramifications for the defendants are staggering–as Naked Capitalism pointed out in a recent post, the common remedy for illegal fee sharing is disgorgement. And, Daily Finance adds, “Since every dollar of revenue both foreclosure subsidies have ever earned …

New Jersey Appellate Court Invalidates Foreclosure Based on Shady Documents

Another court has joined the growing number finally drawing the line and insisting on authenticated documents in foreclosure cases.  A New Jersey Court of Appeals last week set aside a summary judgment granted to Wells Fargo against Sandra Ford, ruling that the bank had failed to establish standing to pursue the foreclosure action. The case was remanded to allow defendant …

A Bad Day for Lender Processing Services

Two lawsuits filed against Lender Processing Services (LPS), one of the nation’s largest default servicers, will move forward.  In an October press conference, LPS had expressed confidence that its practices were within the industry standard and dismissed the cases, which allege that LPS improperly split fees with foreclosure attorneys, as a “fishing expedition”.  However, those cases–pressed forward by Boot Camp graduates …

The Day the LPS Music Died

Reuters published a must read article today, Special report: Legal woes mount for a foreclosure kingpin, in which they describe how a Reuters investigation shows that LPS’s legal woes are more serious than their CEO, Jeff Carbiener, let on. Public records reveal that the company’s LPS Default Solutions unit produced documents of dubious authenticity in far larger quantities than it has disclosed, and over a …

Ahead of Congressional Hearings, Robo-Signer Scrutiny Spreads

by Marian Wang ProPublica, Nov. 16, 2010 Several recent reports about robo-signers have brought fresh attention to another angle of the foreclosure scandal: Robo-signing didn’t just occur in the foreclosure process. It also occurred in the processing of mortgage assignments. Mortgage assignments are documents showing a loan’s transfer of ownership2014transfers that happened over and over when Wall Street firms began …

Class action challenges LPS’ grip on foreclosures

Max was featured in this article about LPS by North Carolina Lawyers Weekly. NewTrak was developed by LPS “to provide foreclosure, bankruptcy and other mortgage loan-related default services to the mortgage industry.” It was the predecessor of LPS’s Desktop. Together, MSP – another LPS program – and NewTrak manage, “without human interaction, the relationship between HSBC and its attorneys in the …