Cease and Desist Consent Order Issued Against DocX and LPS Default Solutions
By Daniel Edstrom
DTC Systems, Inc.
These consent orders are coming out of the woodwork. Here is an excerpt:
WHEREAS, in providing document execution services to Examined Servicers, including
services that facilitated completing foreclosures, LPS and its employees allegedly:(a) Executed numerous affidavits and similar sworn statements (collectively,
“Affidavits”) making various assertions, such as the ownership of the mortgage note and
mortgage (or deed of trust), the amount of principal and interest due, and the fees and expenses
chargeable to the borrower, in which the affiant represented that the assertions in the Affidavit
were made based on personal knowledge or based on a review by the affiant of the relevant
books and records, when, in many cases, they were not based on such knowledge or review.
LPS executed these Affidavits on behalf of Examined Servicers knowing they would be filed in
state courts and in connection with bankruptcy proceedings in federal courts;Continue reading “Cease and Desist Consent Order Issued Against DocX and LPS Default Solutions”
