Ky. joins settlement in mortgage services matter

Kentucky to receive about $949,000 as part of settlement in mortgage services matter

Associated Press

FRANKFORT, Ky. (AP) -- Kentucky's attorney general says the state will receive nearly $950,000 as part of a multi-state settlement with a Florida-based mortgage loan default services company over allegations of misconduct.

Attorney General Jack Conway said Thursday he has joined 44 other attorneys general in reaching the $120 million settlement with Lender Processing Services Inc. and its subsidiaries LPS Default Solutions and DocX.

The proposed consent judgment resolves allegations the company "robo-signed" documents and engaged in other improper conduct related to the mortgage loan and default services it provided to banks and mortgage loan servicers.

Under the settlement, LPS and its subsidiaries would be required to reform their business practices and, if necessary, correct documents they executed to assist homeowners.

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