Lender Processing Services (LPS) has responded to Nevada's attorney general filing charges against two LPS employees.
ASR posted a story from its sister publication American Banker earlier today on the first criminal case involving robo-signing of mortgage documents that accused California residents Gary Trafford and Gerri Sheppard of overseeing teams of "robo-signers." Both individuals are LPS employees, the company said.
In today's statement, LPS said that it has previously disclosed that since 2010, the firm has conducted reviews of the processes it uses in the signing and notarization of documents in foreclosure proceedings.
The firm said that it recently learned about an inquiry from the Nevada Attorney General into its document execution practices. LPS claimed that it has told the Nevada AG of its willingness to fully cooperate with the investigation. Earlier this month, the Attorney General's office confirmed that LPS was not a target of this inquiry.
The Nevada Attorney General has charged two LPS employees for document execution and notarization practices related to default notices and deeds of trust filed in Clark County, Nevada from 2005 to 2008.
Based on the company's reviews, LPS admitted that the signing procedures on some of these documents were flawed. But, the company also thinks that these documents were properly authorized and their recording did not result in a wrongful foreclosure.
"I am deeply committed to ensuring that LPS meets rigorous standards of professional conduct and operating excellence," said newly appointed LPS President and CEO Hugh Harris. "I have full confidence in the ability of our leadership team and more than 8,000 dedicated employees to deliver on that commitment."