Nevada is last state standing as mortgage processor reaches settlement
Lender Processing Services Inc. said Thursday it has reached a $127 million settlement over its foreclosure practices with attorneys general from 46 states and the District of Columbia, leaving the complaint filed in 2011 by Nevada’s attorney general as the only unresolved lawsuit.
The multistate settlement resolves complaints surrounding Lender Processing Services’ default and foreclosure operations. The company previously announced settlements with Missouri, Delaware and Colorado.
Jennifer Lopez, a spokeswoman for the Nevada attorney general’s office, said the state will continue to “pursue its lawsuit against Lender Processing Services for engaging in deceptive foreclosure practices.”
Lopez said Attorney General Catherine Cortez Masto is committed to achieving the best outcome for homeowners by continue its litigation and “to hold LPS accountable for the full extent of its misconduct in Nevada.”
Masto sued Lender Processing Services in December, claiming the Jacksonville, Fla.-based company participated in a widespread fraud involving robo-signings and other deceptive practices.
Lender Processing Services claims Masto’s office improperly outsourced its investigation, which was an “apparent violation of Nevada law.”
“We look forward to favorably resolving our remaining regulatory and legal issues in the near future,” Lender Processing Services President and CEO Hugh Harris said in a statement Thursday.
Contact reporter Chris Sieroty at csieroty@reviewjournal.com or 702-477-3893. Follow @sierotyfeatures on Twitter.