Who’s Who in the Foreclosure Scandal: A Primer on the Players

by Marian Wang ProPublica, Oct. 18, 2010 The unfolding foreclosure scandal just keeps expanding. Scrutiny first fell on the “robo-signers” who rubber-stamped banks2019 foreclosure paperwork, but they’re one of the many players who may have contributed to the mess. To help sort it all out, we’ve drawn up a cast of characters. Let’s start with the basics: Loan Originators/Mortgage Issuers …

Robo-Signing: Two Class Actions Raise More Troubling Foreclosure Questions

From Daily Finance, by Abigail Field. The mortgage foreclosure and robo-signing mess keeps getting messier. And the giant banks that have been caught up in the crisis have plenty of company, including Lender Processing Services and its subsidiary LPS, which plays a huge role in foreclosure process now in high gear across the U.S. LPS describes itself as the nation’s …

Q&A: Putting the Robo-Signer Scandal Into Context

by Marian Wang ProPublica, October 7, 2010 The scandal over flawed paperwork and sloppy practices by mortgage servicers continues to broaden. The issue is complicated, and “robo-signers” — individuals working for servicers and signing off on thousands of foreclosure documents without much verification — are only part of the picture. So we brought some of our questions about the broader …

LPS returns fire on media coverage of DOCX probe

Jacksonville Business Journal – by Christian Conte. Lender Processing Services Inc. is firing back against recent media coverage of an investigation by the U.S. Attorney’s Office and the Florida Attorney General’s Office into one of its subsidiaries that processes and files lien releases and mortgage assignments for lenders. LPS said in a press release issued Oct. 5 that the media has mischaracterized …

Documents Show CitiMortgage and Wells Fargo Also Commit Foreclosure Fraud – Stopwatch Justice

From Daily Finance by Abigail Field. Documents submitted to a court are supposed to be true as submitted. As an attorney, If I file a document with a court in which I swore I personally verified that the information contained within the document is true, and I didn’t actually do that, I’d get in real trouble. It’s simple: That’s fraud …

Congressmen Attack LPS, Servicer Misconduct; PR Counteroffensive Starting

From Naked Capitalism by Yves Smith. Only been a few Congressmen have weighed in on the mortgage documentation mess so far, since wrapping up the current Congressional session and campaigning consumes a lot of bandwidth. Nevertheless, I am getting reports from DC that people on the Hill are starting to take the issue of foreclosure document fabrication, errors, and improprieties …