Thursday, November 17, 2011

LPS (Lender Processing Service) In Deep Doo-Doo

The State of Nevada is fixin' to have some fun with LPS.

The 606-count indictment alleges that the two title officers, Gary Trafford and Gerri Sheppard, directed employees under their supervision to forge their names on foreclosure documents, then notarize the forged signatures, so that it appeared that the pair actually signed the documents.
The pair then allegedly directed the employees to file the fraudulent documents with the County Recorder's office in Clark County, Nevada. The grand jury found "probable cause" that the alleged scheme "resulted in the filing of tens of thousands of fraudulent documents ... between 2005 and 2008," said Nevada Chief Deputy Attorney General John Kelleher.

--Ticker quoting Nevada AG


This is aimed at Lender Processing Services indirectly although the firm itself has not been charged (yet anyway.)  The incentive of course is for the employees to roll over on their employers along with everyone else involved, and I suspect part of the path forward here is to go after the business records (e.g. software systems, etc) and potentially make the case in the process that these actions are directed by and through LPS and their client companies, the banks.

Couldn't happen to nicer guys.

1 comment:

Anonymous said...

Good, nail as many of the Obama loving Democrat Bankers as possible and send them to rot in jail.