The Federal Deposit Insurance Corp. (FDIC) has accused Lender Processing Services of Jacksonville, Fla., and CoreLogic of Santa Ana, Calif., of causing $283.5 million of damages to the former Washington Mutual for failing to provide oversight of appraisal.

The agency filed a 118-page suit Tuesday against LPS for $154.5 million that said 220 appraisals performed between 2006 and 2008 contained "multiple egregious violations" of industry standards, while less than 4% conformed with professional appraisal standards.

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