Lender Processing Services, Inc. (LPS)
45 state Attorneys General and the District of Columbia recently entered into a settlement with Lender Processing Services, Inc. (LPS) and its LPS Default Solutions and DocX subsidiaries.
Under the terms of the settlement, Lender Processing Services is required to improve its business practices, and pay the state of California approximately $36.3 million. In addition to and separate from the payment to the state, the settlement requires LPS to provide assistance to consumers who suffered harm as a result of their business practices. This assistance may include recording of corrected mortgage documents when necessary, or monetary payments to consumers in instances where LPS’s document execution caused the consumer to suffer financial harm.
Consumers who may be eligible for assistance under the settlement will be contacted directly by LPS at a later date, most likely over the course of the next year. Consumers may also contact LPS directly by calling them at one of two toll free numbers. Consumers who would like LPS to review their documents that LPS executed to determine whether remediation is necessary should call 1-866-854-8935.
In addition, consumers with questions or concerns regarding LPS Field Services LPS performs for servicers (property inspection, preservation, maintenance, and winterization) should call 1-800-767-8674.