Lender Settles Nevada AG's Suit

Lender Settles Nevada AG's Suit
20.02.2014355 Mal gelesen
February 18, 2014 Lender Processing Services has agreed to pay $6 million to settle a lawsuit by the Nevada Attorney General that accuses it of “robosigning” mortgage documents, the Associated Press reports. The settlement includes $500,000 in attorney fees.

February 18, 2014

Lender Processing Services has agreed to pay $6 million to settle a lawsuit by the Nevada Attorney General that accuses it of “robosigning” mortgage documents, the Associated Press reports. The settlement includes $500,000 in attorney fees.

Nevada was the only state not to accept a nationwide settlement with the company.

Earlier this month, a judge ordered the AG’s office to pay LPS’ legal fees after finding the AG failed to comply with court orders in the case. LPS alleged that the AG’s office failed to produce hard evidence and “outsourced” the litigation to a private law firm. A spokesperson for the AG says the settlement announced on Friday removes the sanctions:

Spokeswoman Beatriz Aguirre said the deal resolved every element of the case — and took the state off the hook after a judge two weeks ago ordered AG Masto's office to pay sanctions that could have amounted to hundreds of thousands of dollars in legal fees to the company.