VT Settles with Lender Processing Services

billsorrellAttorney General William H. Sorrell announced on Tuesday that he and 45 other state Attorneys General and the District of Columbia reached a 120 million dollar multi-state settlement with Lender Processing Services, Inc. and its subsidiaries (LPS), the nation’s largest provider of technological support to banks and mortgage loan servicers. Vermont will receive $371,000 in its share of the settlement. The complaint filed today alleges that LPS robo-signed documents and engaged in other improper conduct related to mortgage loan default servicing. Once approved by the court, the settlement requires LPS to reform its business practices, and if necessary, to correct documents of individual homeowners to minimize their harm.

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