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KABOOOOM!!!! NEVADA ATTORNEY GENERAL SUES LENDER PROCESSING SERVICES FOR FRAUD
OFFICE OF THE ATTORNEY GENERAL
Catherine Cortez Masto, Attorney General
555 E. Washington Avenue, Suite 3900
Las Vegas, Nevada 89101
Telephone - (702) 486-3420
Fax - (702) 486-3283
Web - http://ag.state.nv.us
FOR IMMEDIATE RELEASE Contact: Jennifer López
DATE: December 16, 2011 702-486-3782
NEVADA ATTORNEY GENERAL SUES LENDER PROCESSING
SERVICES FOR CONSUMER FRAUD
Carson City, NV – Attorney General Catherine Cortez Masto announced today a lawsuit against Lender Processing Services, Inc., DOCX, LLC, LPS Default Solutions, Inc. and other subsidiaries of LPS (collectively known “LPS”) for engaging in deceptive practices against Nevada consumers.
The lawsuit, filed on December 15, 2011, in the 8th Judicial District of Nevada, follows an extensive investigation into LPS’ default servicing of residential mortgages in Nevada, specifically loans in foreclosure. The lawsuit includes allegations of widespread document execution fraud, deceptive statements made by LPS about efforts to correct document fraud, improper control over foreclosure attorneys and the foreclosure process, misrepresentations about LPS’ fees and services, and evidence of an overall press for speed and volume that prevented the necessary and proper focus on accuracy and integrity in the foreclosure process.
“The robo-signing crisis in Nevada has been fueled by two main problems: chaos and speed,” said Attorney General Masto. “We will protect the integrity of the foreclosure process. This lawsuit is the next, logical step in holding the key players in the foreclosure fraud crisis accountable.”
The lawsuit alleges that LPS:
1) Engaged in a pattern and practice of falsifying, forging and/or fraudulently executing foreclosure related documents, resulting in countless foreclosures that were predicated upon deficient documentation;
2) Required employees to execute and/or notarize up to 4,000 foreclosure related documents every day;
3) Fraudulently notarized documents without ensuring that the notary did so in the presence of the person signing the document;
4) Implemented a widespread scheme to forge signatures on key documents, to ensure that volume and speed quotas were met;
5) Concealed the scope and severity of the document execution fraud by misrepresenting that the problems were limited to clerical errors;
6) Improperly directed and/or controlled the work of foreclosure attorneys by imposing inappropriate and arbitrary deadlines that forced attorneys to churn through foreclosures at a rate that sacrificed accuracy for speed;
7) Improperly obstructed communication between foreclosure attorneys and their clients; and
8) Demanded a kickback/referral fee from foreclosure firms for each case referred to the firm by LPS and allowed this fee to be misrepresented as “attorney’s fees” on invoices passed on to Nevada consumers and/or submitted to Nevada courts.
LPS’ misconduct was confirmed through testimony of former employees, interviews of servicers and other industry players, and extensive review of more than 1 million pages of relevant documents. Former employees and industry players describe LPS as an assembly-line sweatshop, churning out documents and foreclosures as fast as new
requests came in and punishing network attorneys who failed to keep up the pace. LPS is the nation’s largest provider of default mortgage services, processing more than fifty percent of all foreclosures annually.
The Office of the Nevada Attorney General recently indicted Gary Trafford and Gerri Sheppard as part of a separate, criminal investigation into the conduct of robo-signing scheme which resulted in the filing of tens of thousands of fraudulent documents with the Clark County Recorder’s Office between 2005 and 2008.
Nevada homeowners who are in foreclosure or are facing foreclosure are advised to seek assistance as soon as possible. Homeowners can find information for a counseling agency approved by the U.S. Department of Housing and Urban Development (HUD) by calling 800-569-4287 or by visiting http://1.usa.gov/NVCounselingAgencies.
Additional information on foreclosure resources can be found at
Anyone who has information regarding this case should contact the Attorney General’s Office hotline at 702-486-3132 (when promoted select “0”) to obtain information on how to submit a written complain. Nevada consumers can file a complaint with the Nevada Attorney General’s Office about LPS by sending a letter with copies of any supporting documentation to the Nevada Office of the Attorney General, Bureau of Consumer Protection: 555 E. Washington Ave Suite 3900, Las Vegas, Nevada 89101
###
Full Complaint below...
www.4closureFraud.org
»
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Attorney sues the fraudulent lawyers... 4yrs and counting at long last...no banks (yet) are indited who hired them and are the entire reason for this endless criminality kicking off
Hopefully the rest falls like dominos once the snake oil (legal) industry are skewered
PS. the inditement case file says 'Contact Jennifer Lopez'. Could i have her Mobile please? ..to set up a lunch date (cough), sorry, i mean business lunch
I scanned the article and that was the first thing I saw. I imagine people calling and saying "I love your music!"
8) Demanded a kickback/referral fee from foreclosure firms for each case referred to the firm by LPS
wooooahhhhh
And yet, an attorney general, who has the legal position to do so is not charging them with criminal fraud.
Odd, no?
Here's why Holder won't go after these corrupt cretins...
http://www.nakedcapitalism.com/2011/12/bill-black-dante’s-divine-comedy-–-banksters-edition.html
enjoy! remember, re-elect Obama! (I fyou want more of this shit).
Harry Reid no doubt in bed with all of them imo. Yet Nevadans keep reelecting that corrupt prick. No sympathy from me for Nevadans. They made their bed the last time they reelected Reid now it's time for them to wallow in it.
Ad hominen and empty.....thumbs down, from a Nevadan who dislikes Reid but dislikes haters more.
Kaboom is right.
Now, if they'd just go after the banks that knowingly contracted them to file the fraudulent docs.
Fuck yeah, I just copped JLo's digits...thanks 4closurefraud.
3 ... 2 ... 1
Thats about how long it will probably take Eric Holder to serve up a lawsuit to prevent Nevada from protecting its citizens from fraud. They will claim federal superiority. After all, that works with immigration and almost everything else. I would imagine he is already on the case now, preparing for Monday to put an end to this.
Too ****** early again! (LPS September Puts)
By all means, lets keep the deadbeats in their homes as long as possible. Who cares if they dont pay property taxes either.
Hell, maybe the taxpayers (FNMA, FHLMC) should just give the scumbags the houses as compensation for the emotional distress they suffered.
you sir, are an example of an ignorant fuckball.
That's the problem.
If you don't hold banks, lawyers, and politicians accountable for fraud, how can you expect people to pay their mortgage or taxes?
By all means, let us keep zombie banks and deadbeat mortgage lenders propped up after they have systematically destroyed several hundred years of best practices regarding land ownership that served so well. They f*cked up so badly, through greed and fraud, that no one is quite sure who owns what. This is called Rule of Law. If you can not hack it, go live in Zimbabwe. They take dollars.
RULE OF LAW, BITCHEZ! IT WORKS BOTH WAYS.
It is ignorant posts like yours that require a swift kick in the ass. What, you jealous that your lender didn't give you a subprime and help you falsify your sheiesse? Kurwa!
Why do you presume I support the banks? Im not in favor of bailing them out. In fact, its high time that crony capitalism gets exposed and criminals prosecuted.
Same for lying-ass mortgage brokers.
But deadbeat borrowers dont get a free pass.
If you dont pay your mortgage, get the fuck out of the house.
Pretty simple.
What if you lost your job as a result of an econmy that imploded because of criminal acts by the banks...if the law says there has to be a chain of title and there is none recored do the current property owners have legal standing? Yes they do! Politicians have stood in the way of the law beingapplied properly. If the securitization of the note was improper and thus invalidates the note, does the current owner/occupant have standing? Under the law they do, but political animal AG's have not pressed on on behalf of the wronged because the party that is guilty controls the money (an frankly there are major financial and economic ramifications for going after the the TBTF banks). The guvmnt has basically chosen expedience over the law and in doing so has set anexample for every US citizen that breaking the law for personal gain if quite alright. Sometimes learning from our mistakes is painful. I say cleanthe shit up right, let the chips fall where they belong and hang the guilty. At least we can start out fresh with real market conditions andfaith that our system of laws actually works.
Problem = moral contract broken
Magna Carta = void
Individual Property rights = rescinded, all property now owned by municipality for tax revenue purposes (see "KELO" decision by Supine Court)
if you made a clerical / criminal related "error" (the documents never were) whose result is that you hold NO legal paper on the loan you gave me, you have NO right to collect it and You are stuck "sucking it up" (C. Munger).
I have a free house. You have a loss.
Fraud is now the accepted business practice of the Government/Wall St partnership. NO lawsuit will allowed to harm it.
"now" ???
new in these parts?
Never underestimate the power of a State AG harnessing people power when seeking higher office. If she does this right, she will crush all contenders for office. Obama could have done it, yet he remains the servant of Wall Street.
Hard to believe. What's going on here?? Could it really be that we the people have actual champions?
What the hell took her so long?
Takes time to investigate. She also was instrumental in passing the law where lenders foreclosing in Nevada must sign an affidavit stating they own the note under penalty or perjury before they can start the foreclosure process. September Notice of Defaults 4000, October 688. She has effectively stopped the banks from foreclosing on loans they dont own. Smart girl.
Holy bat guano! Do my eyes deceive me or is she not even up for reelection in 2012? Wow! How refreshing! How many politicians seeking donors and looking at 2012 elections will now jump aboard the sue the banksters gravy train?
Right on the money-gold. If she wins this, that is a lot of votes. Something the kurwa suka pols in Washington have not yet realized. To comfortable and short-sighted.
Fraud? That's not possible. The pigmen would never do anything fraudy...or crimey.
tOO BiG To fAiL LOan MOdIFiCATioN FOrm r.1.A.002.B.XXXX
(Link goes to Hamlet pdf embeds)
Every now and then Nevada gets it right. They do have a sense of supporting personal rights and individualism.
Hooray for Catherine Masto. Fire Eric Holder and let Catherine do his job. We are finding our people to support politically during this chaos. Make notes.
Catherine is a tool of puppet master Harry.
Its amateur hour in Carson City, trust me.
Sorry...but if you're casting your lot with LPS you might not be very trustworthy..lol.
Soo the victims were bottom feeding scumbag foreclosure mill lawyers?
Cry me a river, who gives a shit?
Couldn't happen to nicer people.
I wish other state attornies would join this lawsuit.
We got ourselves a real Lady here in Nevada. Ms. Masto YES!
Wait and see. Hope for the best. Be prepared for the worst. That is all.
go cathy go!!!
sue those assholes into area 51 and then drop an abomb on the whole abortion....
Can we claw back Mozilo's "get out of jail free" card? He should be stoned in a public square on PPV.
Bernanke. Geithner. Summers. Rubin. Bush. Cheney. Frank. Dodd. Obama. Congress.
And we have not even gotten to theIMF, World Bank, High Street, Europe, Asia, and everywhere else. That is a long list.
Of curse, we are speaking metaphorically.
And sell tickets to throw the rocks. I'd pay $100 per rock!
Nevadas in 49 to go.
Isn't this the case where the whistle blower Tracy Lawrence suddenly took her own life!?
http://www.huffingtonpost.com/2011/11/30/tracy-lawrence-whistleblower-de...
Must have drowned in the Hot Tub.
nah, that's the preferred suicide method used buy oil companies.
the cause of death has not been determined. there was no suicide note.
"natural causes"
Does a pillow over the face count? Done right, it counts as 'natural causes'.
Yes, In typical Las Vegas fashion.
Two to da head, one in the chest, gun in left hand.
kind of like hunter s thompson, the man who saw too much and filmed too much of certain individuals who were into doing bad things to children............as portrayed in the book, the franklin coverup...........
Wasn't he on the phone when he popped himself? And remember that case in Belgium?